Monetary Transmission in Diverse Economies

Peter Sinclair editor Lavan Mahadeva editor

Format:Hardback

Publisher:Cambridge University Press

Published:17th Oct '02

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Monetary Transmission in Diverse Economies cover

This book explains different aspects of the transmission mechanism for monetary policy, using international data and examples.

This volume explains different aspects of the transmission mechanism. It scrutinizes the relevance of practical issues such as asymmetries, recent structural changes and estimation errors using data on the US, Euro area and developing countries. Also focuses on modelling crucial aspects including productivity, the exchange rate and the monetary sector.The transmission mechanism of monetary policy explains how monetary policy works - which variables respond to interest rate changes, when, why, how, how much and how predictably. It is vital that central banks and their observers, worldwide, understand the transmission mechanism so that they know what monetary policy can do and what it should do to stabilize inflation and output. The volume sets out different aspects of the transmission mechanism. Some chapters scrutinize the relevance of practical issues such as asymmetries, recent structural changes and estimation errors using data on the USA, the Euro area and developing countries. Other chapters focus on modelling crucial aspects such as productivity, the exchange rate and the monetary sector. These issues are counterpointed by contributions that analyse monetary policy in Japan and the UK.

Review of the hardback: 'The diversity of approaches and topics covered offers a variety of interesting insights into the modelling of monetary transmission and its application to monetary policy making.' International Journal of Finance & Economics
Review of the hardback: '… the papers unsurprisingly maintain a high standard and make for very worthwhile reading …' International Affairs

ISBN: 9780521813464

Dimensions: 229mm x 152mm x 19mm

Weight: 570g

276 pages