An analysis of the effect that monetary control arrangements have on the information content of the money stock announcements in the market for bank reserves.

This paper presents new evidence on how asset prices respond to new information about the money stock. It shows that the information content of money stock announcements and the response of asset prices to new information in the announcements vary with changes in the monetary policy regime, the...

A presentation of new evidence on the issue of Federal Reserve System credibility, examining the response pattern of asset prices to the weekly M1 announcements under different operating procedures and monetary policy regimes.

A description of the exchange-rate mechanism of the European Monetary System and a discussion of some problems with the mechanism that apply to the operation of any target-zone system for maintaining exchange rates.

An examination of proposals to improve the international monetary system by creating central exchange rates and a discussion of why such a policy might not be in the best interest of the United States.

An analysis of exchange-rate patterns and a discussion of factors thought to influence the strength of the dollar in the foreign exchange market.