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The International Economic Association Acknowledgements Notes on the Contributors List of Abbreviations and Acronyms Introduction; A.Leijonhufvud Monetary Theory and Central Banking; A.Leijonhufvud Comment; J.Mélitz PART I: INTERTEMPORAL EQUILIBRIUM Intertemporal General Equilibrium Theory and Monetary Policy; J.Drèze & H.Polemarchakis Comment; J.M.Grandmont Comment; J.Urrutia The Fiscalist Approach to Monetary Theory; R.Marimon Comment; S.Honkapohja Inflation and Welfare; R.Lucas Comment; D.Laidler Comment; H.W.Sinn PART II: MONETARY AND FINANCIAL INSTABILITY Business Cycles in a Financially Deregulated America; A.Wojnilower Comment; L.Jonung Learning About Trends: Spending and Credit Fluctuations in Open Economies; D.Heymann, M.Kaufman & P.Sanguinetti Comment; P.L.Sacco Comment; J.L.Gaffard Monetary Policy and the Macroeconomics of 'Soft' Growth; J.P.Fitoussi Comment; E.Streissler Index of Names Subject Index