01844cas a2200253 a 4500 AALejournalIMF000112 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451958522 1018-5941 BD-DhAAL BD-DhAAL Frenkel, Jacob. Monetary Policy in an Emerging European Economic and Monetary Union : Key Issues / Jacob Frenkel, Morris Goldstein. Washington, D.C. : International Monetary Fund, 1990. 1 online resource (18 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper discusses key issues relating to the design and implementation of monetary policy in an emerging European economic and monetary union. Specific institutional proposals for transition to EMU are neither endorsed nor dismissed. In examining the goals of monetary policy, the paper explores the interrelationships among price stability, current account equilibrium, and exchange rate stability. Turning to the implementation of monetary policy, the issues addressed are: coordination versus autonomy, rules versus discretion, and the role of sterilized official intervention. Finally, the last part of the paper emphasizes the importance of fiscal discipline, and evaluates several alternative mechanisms for encouraging it. Mode of access: Internet Goldstein, Morris. IMF Working Papers; Working Paper ; No. 1990/073 Full text available on IMF http://elibrary.imf.org/view/journals/001/1990/073/001.1990.issue-073-en.xml IMF e-Library