AXEL LEIJONHUFVUD is Professor Emeritus of the University of California at Los Angeles and is Professor of Monetary Economics at the University of Trento, Italy. His books include On Keynesian Economics and the Economics of Keynes, Information and Coordination, (with Daniel Heymann) High Inflation and Macroeconomic Instability and Coordination: Selected Essays.

• 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