The monetary conditions index is a composite index of interest and exchange rates frequently used by central banks, the International Monetary Fund, and the Organisation for Economic Cooperation and Development. This paper considers the benefits and weaknesses of the monetary conditions index in...

Although Europe is about to introduce a commom monetary policy with one common European currency, the euro, estimating the expected costs and income is not an easy task. This paper analyzes in-depth the benefits of the euro. The prospects are positive.

There seems to be a general perception that the exchange rate pass-through is the most important channel in the transmission process of monetary policy in Albania. This perception is questioned here in light of the altering relationships in this developing economy. A discussion on the...