Handbook of Monetary Economics 3A

Other | December 8, 2010

byBenjamin M. Friedman, Benjamin M. Friedman, Michael Woodford

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What tools are available for setting and analyzing monetary policy?

World-renowned contributors examine recent evidence on subjects as varied as price-setting, inflation persistence, the private sector's formation of inflation expectations, and the monetary policy transmission mechanism. Stopping short of advocating conclusions about the ideal conduct of policy, the authors focus instead on analytical methods and the changing interactions among the ingredients and properties that inform monetary models. The influences between economic performance and monetary policy regimes can be both grand and muted, and this volume clarifies the present state of this continually evolving relationship.



  • Explores the models and practices used in formulating and transmitting monetary policies 
  • Raises new questions about the volume, price, and availability of credit in the 2007-2010 downturn
  • Questions fiscal-monetary connnections and encourages new thinking about the business cycle itself
  • Observes changes in the formulation of monetary policies over the last 25 years

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From the Publisher

What tools are available for setting and analyzing monetary policy? World-renowned contributors examine recent evidence on subjects as varied as price-setting, inflation persistence, the private sector's formation of inflation expectations, and the monetary policy transmission mechanism. Stopping short of advocating conclusions about ...

Michael Woodford is the John Bates Clark Professor of Political Economy at Columbia University. His first academic appointment was at Columbia in 1984, after which he held positions at the University of Chicago and Princeton University, before returning to Columbia in 2004. He received his A.B. from the University of Chicago, his J.D. ...

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Format:OtherDimensions:752 pages, 1 × 1 × 1 inPublished:December 8, 2010Publisher:Elsevier ScienceLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0080932703

ISBN - 13:9780080932705

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Table of Contents

  • 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
  • Rational Inattention and Monetary Economics--Christopher A. Sims
  • Imperfect Information and Aggregate Supply--N. Gregory Mankiw and Ricardo Reis
  • Microeconomic Evidence on Price-Setting--Peter J. Klenow and Benjamin A. Malin
  • DSGE Models for Monetary Policy Analysis--Lawrence J. Christiano, Mathias Trabandt and Karl Walentin
  • How Has the Monetary Transmission Mechanism Evolved over Time?--Jean Boivin, Michael T. Kiley and Frederick S. Mishkin
  • Inflation Persistence--Jeffrey C. Fuhrer
  • Monetary Policy and Unemployment--Jordi Gali
  • Financial Intermediation and Credit Policy in Business Cycle Analysis--Mark Gertler and Nobuhiro Kiyotaki
  • Financial Intermediaries and Monetary Economics--Tobias Adrian and Hyung Song Shin