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To conclude, I Money and the Rule of Law i is a welcome contribution to the intellectual road and research agenda at the intersection of political economy, banking theory, and monetary institutions. Despite all its macroeconomic refinement and high levels of technicality, monetary policy cannot escape this fundamental fact of economic nature; this is because both monetary policy and banking processes will always be dependent on the institutional structure in which it operates (Paniagua, [23]). The notion of taming banking crises and preventing them from ruining the financial system are among the strongest arguments employed to guarantee a higher degree of discretion in monetary and banking policy. The book is a great reminder of the fact that while economics might be a science, political economy and monetary policy are worldly arts[7] that require prudence and nuanced understanding of how institutions are constructed. [Extracted from the article]

Reviews the book "The Federal Reserve Bank of Richmond," by Charles G. Coit.

Illenin O. Kondo of the Federal Reserve Bank of Minneapolis reviews "Regional Integration in West Africa: Is There a Role for a Single Currency?" by Eswar S. Prasad and Vera Songwe. The Econlit abstract of this book begins: "Presents an evaluation of alternative exchange rate regimes and their relative benefits and complexities given the structure of the Economic Community of West African States (ECOWAS) region, discussing the institutional framework and broader aspects of economic and political integration required to underpin a stable and durable currency union." [ABSTRACT FROM AUTHOR]

Issing suggests that communication challenges are greater for central banks with dual mandates, but even for central banks with single mandates there can be times when communications are tricky. Issing argues that the ECB's announcement of its monetary policy strategy, including its problematic definition of price stability, prior to the formal launch of the euro on January 1, 1999, was key to the successful transition. One of the greatest threats to central banks, in Issing's view, is mission creep and the overburdening of central banks, which fuels the expectation that central banks can cure all economic ailments. [Extracted from the article]

Reviews the book "The Federal Reserve System, Its Origin and Growth: Reflections and Recollections," by Paul Warburg.

The article reviews the book "The Federal Reserve System," by H. Parker Willis.

Reviews the book "The Federal Reserve Act: Its Origin and Problems," by J. Laurence Laughlin.

Reviews the book "The Federal Reserve Bank of San Francisco," by Parker B. Willis.

The article reviews the book "Federal Reserve System in Operation," by E. A. Goldenweiser.

Reviews the book "Federal Reserve Bank Policy in Iowa," by R. R. Pickett.