What are the goals of monetary policy and how are they transmitted? Top scholars summarize recent evidence on the roles of money in the economy, the effects of information, and the growing importance of nonbank financial institutions. Their investigations lead to questions about standard presumptions about the rationality of asset markets and renewed interest in fiscal-monetary connections. …

This successful text, now in its second edition, offers the most comprehensive overview of monetary economics and monetary policy currently available. It covers the microeconomic, macroeconomic and monetary policy components of the field. Major features of the new edition include: Stylised facts on money demand and supply, and the relationships between monetary policy, inflation, output…

V. 3A. The Mechanism-design approach to monetary theory / Neil Wallace — New monetarist economics: models / Stephen Williamson and Randall Wright — Money and inflation: some critical issues / Bennett T. McCallum and Edward Nelson — Foundations: information and adjustment. Rational inattention and monetary economics / Christopher A. Sims — Imperfect information and aggregate…

A comprehensive analysis of the macroeconomic and financial forces altering the economic landscape Financial decision-making requires one to anticipate how their decision will not only affect their business, but also the economic environment. Unfortunately, all too often, both private and public sector decision-makers view their decisions as one-off responses and fail to see their decisions…

The extensive monetary policy of central banks during the Great Recession has re-newed the interest in the relation between (possibly) non-neutral money and wealth and income inequality. In this work, a dynamic general equilibrium model approach is used to study the effects of an inflation rate change on inequality. These effects are found to be…