ABSTRACT
For monetary policymakers worldwide, developing a practical understanding of how monetary policy transmits to the economy is a day-to-day challenge. The data such policymakers have is imperfect, the maps they use are continually redrawn. With such uncertainty, understanding this complicated issue is rarely straightforward.
This book, a collaboration between some of the finest minds working on monetary theory in the world, helps to provide a foundation for understanding monetary policy in all its complex glory. Using models, case studies and new empirical evidence, the contributors to this book help readers on many levels develop their technical expertise.
Students of macroeconomics, money and banking and international finance will find this to be a good addition to their reading lists. At the same time, policymakers and professionals within banking will learn valuable lessons from a thorough read of this book's pages.
TABLE OF CONTENTS
part 1|79 pages
An overview of the transmission mechanism of monetary policy
chapter 2|50 pages
The transmission of monetary policy through interest rates
part 2|162 pages
Building structural models of the monetary policy transmission
chapter 6|29 pages
Transmission mechanisms and inflation targeting
chapter 7|26 pages
Monetary policy and goals for external competitiveness
chapter 9|23 pages
Monetary transmission mechanism in Turkey
part 3|35 pages
Transparency and market expectations
part 4|104 pages
Monetary policymakers' perspectives