Handbook of Monetary Economics vols 3A+3B SetEdited by
- Benjamin Friedman, Harvard University, Cambridge, MA, USA
- Michael Woodford, Columbia University, New York, NY, USA
How have monetary policies matured during the last decade?
The recent downturn in economies worldwide have put monetary policies in a new spotlight. In addition to their investigations of new tools, models, and assumptions, they look carefully at 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. They also reexamine standard presumptions about the rationality of asset markets and other fundamentals. 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.
Graduate students through professionals worldwide working in all fields of economics and finance, and particularly in subfields related to labor economics.