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What tools are available for setting and analyzing monetary policy? This title examines evidence on subjects as varied as price-setting, inflation persistence, the private sector's formation of inflation expectations, and the monetary policy transmission mechanism.
Due to the fundamental two-way interaction between the theoretical and the empirical aspects of monetary economics, together with the relationship of both to matters of public policy, any organization of material spanning the subject is bound to be arbitrary. This work is suitable for graduate economics students on advanced courses.
What are the goals of monetary policy and how are they transmitted? This title summarizes evidence on the roles of money in the economy, the effects of information, and the growing importance of nonbank financial institutions.
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