Abstract
Viewed over the long term, prices have risen at a considerably slower pace in Germany than in comparable major industrial countries. At the same time the Deutsche Mark has appreciated strongly in the foreign exchange markets and has become the anchor currency in the EMS. This has owed much to the monetary policy of the Bundesbank, which is based on a clear statutory stability mandate, an independent status and a convincing monetary policy strategy.
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© 1998 Peter Schmid
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Schmid, P. (1998). Monetary Policy: Targets and Instruments. In: Frowen, S.F., Pringle, R. (eds) Inside the Bundesbank. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-26476-6_4
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DOI: https://doi.org/10.1007/978-1-349-26476-6_4
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