Table of Contents:
  • Monetary regimes and protectionism / Karl Brunner and Allan H. Meltzer
  • Transition from inflation to price stability / Peter M. Garber
  • Comment on the Garber paper / Herschel I. Grossman
  • Monetary accommodation and the variability of output, prices, and exchange rates / Leonardo Leiderman
  • Comment on the Leiderman paper / Robert J. Hodrick
  • Changes in the provision of correspondent-banking services and the role of Federal Reserve banks under the DIDMC Act / Edward J. Kane
  • Comment on the Kane paper / Robert Auerbach
  • Reply to Auerbach / Edward J. Kane
  • The macroeconomics of protection with a floating exchange rate / Paul Krugman
  • Comment on the Krugman paper / Rachel McCulloch
  • Four observations on modern international commercial policy under floating exchange rates / J. David Richardson
  • Conditionality and the argument against neo-merchantilist policies: a comment on Richardson's paper / Russell S. Boyer
  • How much is owed by the Federal government? / Rudolph G. Penner
  • Comment on the Penner paper / Carl F. Christ.