Comments on ‘Tracks Towards a Common Monetary Policy in Europe’ by Norbert Kloten

  • Manfred Borchert


When economists talk about establishing monetary unions they first discuss two theoretical models, namely the monetarist concept and the economistic concept, which means the alternatives of either first adjusting monetary policies of the countries wishing to unionise or to start by founding a central monetary institution.


Exchange Rate Monetary Policy European Central Bank Monetary Union Domestic Currency 
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  1. Issing, O. (1993) ‘Hayek’s Suggestion for Currency Competition — A Central Banker’s View’, Deutsche Bundesbank Auszüge aus Prcsseartikeln, no. 32, 30 April, 1993, pp. 12–14, to be published in S. F. Frowen (ed.) Hayek the Economist and Social Philosopher — A Critical Retrospective (London: Macmillan, 1994).Google Scholar

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© Stephen F. Frowen 1993

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  • Manfred Borchert

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