What tools are available for setting and analyzing monetary
policy?
World-renowned contributors examine recent evidence on subjects
as varied as price-setting, inflation persistence, the private
sector's formation of inflation expectations, and the monetary
policy transmission mechanism. Stopping short of advocating
conclusions about the ideal conduct of policy, the authors focus
instead on analytical methods and the changing interactions among
the ingredients and properties that inform monetary models. The
influences between economic performance and monetary policy regimes
can be both grand and muted, and this volume clarifies the present
state of this continually evolving relationship.
Explores themodels and practices used in formulating and
transmitting monetary policiesRaises new questions about the
volume, price, and availability of credit in the 2007-2010
downturnQuestions fiscal-monetary connnections and encourages new
thinking about the business cycle itselfObserves changes in the
formulation of monetary policies over the last 25 years"
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