This book is a unique collection of recent research on monetary
policy. Various critical issues related to monetary policy are
investigated in this book. How often, and why, do firms in Canada
reset their prices? How does monetary policy in Japan, the United
States, and the United Kingdom influence inflation expectations?
What would the policy interest rates have been if the European
Central Bank were to set the rates of individual member countries
by responding to each member country's economic conditions? What is
the monetary transmission mechanism in Papua New Guinea? What is
the monetary transmission mechanism in Bulgaria under the currency
board? Has monetary policy in China contributed to a decline in
inflation and output volatility? These and other important issues
are thoroughly examined in this book.
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