As a tribute to the contributions of Alan Walters to monetary theory and policy, this book draws together international contributors to write about money. In a series of essays they review controversies in monetary economics and debate current policy issues. Combining theretical analysis with policy evaluation, the book touches on a spectrum of issues ranging from monetary union and exchange rate regimes, to credit rationing and policy games. The book focuses on the problems of modelling the effects of monetary and fiscal policy, and setting optimal policies for the future. It concludes with two panel discussions, one questioning whether the UK should join the Euro and the other discussing the appropriate targets of monetary policy.