Twenty-five international economists give their assessments of how European monetary policy should be conducted when the European System of Central Banks (ESCB) starts operating at the beginning of 1999. The three main areas covered are the transmission mechanism of monetary policy; issues related to objectives and targets of monetary policy, including the problem of unemployment; and instruments available for the future of ESCB. Distributed by Books International. Annotation c. by Book News, Inc., Portland, Or.