Designed for advanced undergraduates in economics, this new text
provides an up-to-date analysis of the practice and theory of
monetary policy and discusses key models that tie in with
contemporary research and policy.
The transmission mechanism of monetary policy is given
particular emphasis and the book discusses the behaviour of a
number of central banks, in particular the Bank of England, the
European Central Bank and the Federal Reserve. The worldwide credit
crunch and subsequent recession and non-conventional monetary
policies such as quantitative easing are also given extensive
treatment.
General
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