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Monetary Theory and Policy (Hardcover, fourth edition)
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Monetary Theory and Policy (Hardcover, fourth edition)
Series: Monetary Theory and Policy
Expected to ship within 9 - 17 working days
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The new edition of a comprehensive treatment of monetary economics,
including the first extensive coverage of the effective lower bound
on nominal interest rates. This textbook presents a comprehensive
treatment of the most important topics in monetary economics,
focusing on the primary models monetary economists have employed to
address topics in theory and policy. Striking a balance of insight,
accessibility, and rigor, the book covers the basic theoretical
approaches, shows how to do simulation work with the models, and
discusses the full range of frictions that economists have studied
to understand the impacts of monetary policy. For the fourth
edition, every chapter has been revised to improve the exposition
and to reflect recent research. The new edition offers an entirely
new chapter on the effective lower bound on nominal interest rates,
forward guidance policies, and quantitative and credit easing
policies. Material on the basic new Keynesian model has been
reorganized into a single chapter to provide a comprehensive
analysis of the model and its policy implications. In addition, the
chapter on the open economy now reflects the dominance of the new
Keynesian approach. Other new material includes discussions of
price adjustment, labor market frictions and unemployment, and
moral hazard frictions among financial intermediaries. References
and end-of-chapter problems allow readers to extend their knowledge
of the topics covered. Monetary Theory and Policy continues to be
the most comprehensive and up-to-date treatment of monetary
economics, not only the leading text in the field but also the
standard reference for academics and central bank researchers.
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