The Yen as an international currency

Article Abstract:

Policy-makers in Japan have placed strong emphasis on increasing the international role of the Yen. However, there are problems with establishing what the internationalization of a currency actually means in practice. It appears that the Asian currency crisis has been more effective in internationalizing the Yen than many years of Japanese policy initiatives. There are signs that the purely Dollar-based systems in operation before the currency crisis will be replaced with a more balanced approach to currency management.

Administration of General Economic Programs, Currency Stabilization Programs, Japan, International aspects, Currency stabilization, Yen (Japan)

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Can interest rate policy be independent?

Article Abstract:

It is generally assumed that interest rates in different countries are interlinked and that large countries can affect the rates which are set by smaller countries. However, research suggests that this may not be correct. The major indicators may be national and not international. Individual countries can therefore set their own interest rates independently if they choose to do so.

Interest Rates, Research, International economic relations

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Reviewing Bank of England independence: the report of the Bank of England Commission

Article Abstract:

The British Conservative party set up the Bank of England Commission, which has reviewed the framework for monetary policy in Britain. The commission argues for retaining independence for the Bank of England, with some changes in the way that policy is formulated.

Banking Institutions, Depository Credit Intermediation, DEPOSITORY INSTITUTIONS, United Kingdom, Bank of England, Banks (Finance), Central banks

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