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Monetary Policy: Goal, Institutions, Strategies, and Instruments

Опубликовано на портале: 30-01-2003
Oxford: Oxford University Press, 2001
This book provides an in-depth description and analysis of monetary policy in Europe and the United States. Focusing specifically on the European Central Bank, it offers one of the first comprehensive guides to understanding the targets, strategy, and instruments of the ECB.

Readership: Investment bankers and other professional investors, central bankers, academics and advanced level students in the field of monetary policy.

I. Theoretical Fundamentals of Monetary Policy
1. What is Money?
2. The Demand for Money
3. The Money Supply Process---Trailhead of the Transmission Process
4. Monetary Policy Transmission

II. Domestic Aspects of Monetary Policy
5. The Ultimate Goal and the Final Targets of Monetary Policy
6. The Institutional Framework for Monetary Policy I: "Rules versus Discretion"
7. The Institutional Framework of Monetary Policy II: The Design of the Central Bank Legislation
8. Strategies ("Simple Rules") for a Stability-Oriented Monetary Policy
9. The Conduct of Monetary Policy by the World's major Central Banks
10. The Instruments of Monetary Policy
11. Seigniorage and Inflation Tax

III. Monetary Policy in an Open Economy
12. Important Building Blocks of Open Economy Macroeconomics
13. Monetary Policy Strategies in an Open Economy

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