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The Science and Practice of Monetary Policy Today - The Deutsche Bank Prize in Financial Economics 2007 (Hardcover, 2010 ed.)
Loot Price: R2,791
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The Science and Practice of Monetary Policy Today - The Deutsche Bank Prize in Financial Economics 2007 (Hardcover, 2010 ed.)
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This book presents important aspects of the New-Keynesian theory of
monetary policy and its implications for the practical decision
making of central bankers today. It brings together several new
research contributions that were presented at the scientific
symposium on the occasion of the award of the Deutsche Bank Prize
in Financial Economics 2007 to Professor Michael Woodford of
Columbia University. Woodford received this prize according to the
jury in recognition of his fundamental contributions to the theory
and practical analysis of monetary policy. The prize jury included
Gunter Franke, Michael Haliassos, Otmar Issing, Jan Krahnen,
Patrick Lane, Lucrezia Reichlin, Reinhardt Schmidt, Lars Svensson,
Norbert Walter and Volker Wieland. The first part on "The
New-Keynesian Approach to Understanding the Economy" contains two
chapters written by Bennett McCallum and Jordi Gali, respectively.
McCallum provides an exposition of key elements of the
New-Keynesian approach to monetary policy analysis and an
appreciation of Woodford's contributions. Gali further develops
several key lessons of this approach and points out important new
directions for further research.
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