Experiences of Monetary Policy

The First Quarter of the 21st Century

Inbunden, Engelska, 2026

1 599 kr

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Beskrivning

The first quarter of the 21st Century was a difficult period. it covers the last few years of the Great Moderation but then the Global Financial Crisis of 2007-2008, followed by the shocks to the world economy caused by the Covid pandemic and the war in Ukraine. Written by a team of leading economists, Experiences of Monetary Policy provides a wide-ranging perspective on the evolution of monetary policy over this period in response to these developments, in general and with particular reference to some of the world's most important economies - both advanced economies and the emerging economies of China, India, Mexico, South Africa and Türkiye. It analyses what policies worked and what did not, and why. The Afterword includes a discussion on how monetary policy might develop in the future, in the light of the actions of the Trump administration in the US in its first year.

Produktinformation

Utgivningsdatum:2026-12-31
Format:Inbunden
Språk:Engelska
Antal sidor:400
Förlag:Cambridge University Press
ISBN:9781009662949

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Mer om författaren

David Cobham is Emeritus professor in the Department of Economics at Heriot-Watt University, Edinburgh. He has worked at St Andrews and Heriot-Watt universities. He was a Houblon-Norman Fellow at the Bank of England in 1987 and 2001. He is author of The Making of Monetary Policy in the UK, 1975–2000 (2002) and co-editor of books including Twenty Years of Inflation Targeting (2010).

Recensioner i media

'This book comes at a great time. Nearly forty years after central banks started to adopt the inflation targeting strategy and were granted independence, it offers overviews of what has happened. Now, however, second thoughts have emerged, partly for wrong reasons, partly because some mistakes have been made. The book offers sketches on what could happen next. This is all extremely useful for central bankers and academics.' Charles Wyplosz, The Graduate Institute, Geneva

Innehållsförteckning

1. Foreword Charles Goodhart; 2. Introduction David Cobham; 3. Monetary policy frameworks from 1999 to 2023: moins ça change, moins c'est la même chose David Cobham; 4. The evolution of monetary policy frameworks in the world Filiz Unsal and Chris Papageorgiou; 5. Monetary policy in China: a different model? Rongrong Sun and Eric Girardin; 6. The ECB's monetary policy Bernd Hayo and Johannes Zahner; 7. The bank of Japan: the lonely forerunner of unconventional monetary policy Toshitaka Sekine; 8. Monetary policy challenges of the United States: 2000–2024 George Bratsiotis and Kasun D. Pathirage; 9. Monetary policy in India: the long road to inflation targeting Rajeswari Sengupta; 10. The evolving framework of inflation targeting in Mexico Carlos A Carrasco and Juan Alberto Vázquez-Muñoz; 11. Monetary policy in South Africa: building credibility, managing risk Vincent Dadam and Nicola Viegi; 12. Türkiye's monetary policy in the 21st century A. Hakan Kara; 13. British monetary policy, 1997–2024 William A. Allen and Richhild Moessner; 14. How does (un)conventional monetary policy work? Alex Haas and Michael McMahon; 15. Macroprudential policy: advances towards a new policy function Erlend Nier; 16. Global monetary policy interactions: patterns and drivers of policy rate co-movements Mengdi Song; 17. Financial sector interconnectedness and monetary policy transmission Daniel Carvalho; 18. Afterword David Cobham; Index.