01958cas a2200241 a 4500 AALejournalIMF012614 230101c9999 xx r poo 0 0eng d 15.00 USD 9781557751430 0251-6365 BD-DhAAL BD-DhAAL International Monetary Fund. The Conduct of Monetary Policy in the Major industrial Countries : Instruments and Operations Procedures: Occa Paper No.70. Washington, D.C. : International Monetary Fund, 1990. 1 online resource (44 pages) Occasional 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 instruments and operating procedures of the conduct of monetary policy in the major industrial countries. The exchange rate mechanism of the European Monetary System (EMS) provides clear evidence of the role of exchange rates in influencing monetary policy; the commitment of EMS participants to maintain their exchange rates within agreed limits has often led them to undertake policy measures aimed at exchange rate objectives. The procedures for implementing monetary policy in the five countries examined here exhibit numerous common features; the dissimilarities that exist do not appear to be fundamental, but rather are attributable primarily to differences in institutional conditions. This paper describes the procedures employed by these monetary authorities so that changes in policy stances can be identified. Mode of access: Internet Occasional Papers; Occasional Paper ; No. 1990/005 Full text available on IMF http://elibrary.imf.org/view/books/084/15214-9781557751430-en/15214-9781557751430-en-book.xml IMF e-Library