How Monetary Policy Works

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Central Bank Interest Rate
central bank strategies
CPI Inflation
Dependent Var
empirical monetary models
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GDP Data
Gdp Output
Inflation Target
inflation targeting frameworks
Interest Rate Channel
interest rate transmission
macroeconomic policy analysis
Monetary Policy
Monetary Policy Model
Monetary Policy Reaction Function
Monetary Policy Rule
Monetary Policy Transmission Mechanism
monetary transmission in emerging markets
Monetary Transmission Mechanism
Nominal Rigidities
Nominal Shocks
Official Interest Rate
open economy macroeconomics
Output Gap
Output Gap Measures
Overnight Rate
Phillips Curve
Ramsey RESET Test
Real Exchange Rate
Real Interest Rates
Traditional Interest Rate Channel

Product details

  • ISBN 9780415343510
  • Weight: 861g
  • Dimensions: 156 x 234mm
  • Publication Date: 30 Sep 2004
  • Publisher: Taylor & Francis Ltd
  • Publication City/Country: GB
  • Product Form: Hardback
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For monetary policymakers worldwide, developing a practical understanding of how monetary policy transmits to the economy is a day-to-day challenge. The data such policymakers have is imperfect, the maps they use are continually redrawn. With such uncertainty, understanding this complicated issue is rarely straightforward. This book, a collaboration between some of the finest minds working on monetary theory in the world, helps to provide a foundation for understanding monetary policy in all its complex glory. Using models, case studies and new empirical evidence, the contributors to this book help readers on many levels develop their technical expertise. Students of macroeconomics, money and banking and international finance will find this to be a good addition to their reading lists. At the same time, policymakers and professionals within banking will learn valuable lessons from a thorough read of this book's pages.

Lavan Mahadeva is Monetary Policy Committee Research Advisor to the Bank of England, UK. His Previous book, Monetary Policy Frameworks in a Global Context, is also available from Routledge.

Peter Sinclair is Director of the Bank of England Centre for Central Banking Studies and Professor of Economics at the University of Birmingham, UK. His previous book, Financial Stability and Central Banks, is also available from Routledge.