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The Science and Practice of Monetary Policy Today

The Deutsche Bank Prize in Financial Economics 2007

Editors: Wieland, Volker (Ed.)

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  • Brings together contributions by leading academics and experienced policy-makers
  • Offers a presentation and evaluation of key elements of the New-Keynesian approach to monetary policy analysis
  • Includes lessons and implications for practical policy design
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eBook $109.00
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  • ISBN 978-3-642-02953-0
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Hardcover $149.99
price for USA in USD
  • ISBN 978-3-642-02952-3
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  • Online orders shipping within 2-3 days.
Softcover $149.99
price for USA in USD
  • ISBN 978-3-662-51946-2
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

This book presents important aspects of the New-Keynesian theory of monetary policy and its implications for the practical decision-making of central bankers today. Bridging the theory and practice of monetary policy, it provides an exposition on the key elements of the New-Keynesian approach, outlines important lessons for policymakers, and points to new directions for further research. Important policy implications of the New-Keynesian approach such as the case for forecast targeting as a strategy for monetary policy, the combination of model-based forecasts with cyclical analysis, and strategies for cross-checking model-based policy recommendations are presented in detail. The book brings together new contributions from leading scientists and experienced policymakers presented at an academic symposium on the occasion of the awarding of the Deutsche Bank Prize in Financial Economics 2007 to Professor Michael Woodford.

With contributions by: Josef Ackermann, Deutsche Bank AG; Günter Beck, Goethe University Frankfurt; Jordi Galí, Universitat Pompeu Fabra; Stefan Gerlach, Goethe University Frankfurt; Domenico Giannone, European Central Bank; Otmar Issing, Goethe University Frankfurt; Hermann-Josef Lamberti, Deutsche Bank AG; Patrick Lane, The Economist; Bennet T. McCallum, Carnegie Mellon University; Frederic Mishkin, Columbia Business School; Francesca Monti, Université Libre de Bruxelles; Lucrezia Reichlin, London Business School; Norbert Walter, Deutsche Bank AG; Celia Wieland, wieland EconConsult; Volker Wieland, Goethe University Frankfurt; Michael Woodford, Columbia University

Table of contents (11 chapters)

Table of contents (11 chapters)
  • Michael Woodford’s Contributions to Monetary Economics

    Pages 1-8

    McCallum, Bennett T.

  • The New-Keynesian Approach to Monetary Policy Analysis: Lessons and New Directions

    Pages 9-19

    Galí, Jordi

  • The Case for Forecast Targeting as a Monetary Policy Strategy

    Pages 23-40

    Woodford, Michael

  • Incorporating Conjunctural Analysis in Structural Models

    Pages 41-57

    Giannone, Domenico (et al.)

  • Money in Monetary Policy Design: Monetary Cross-Checking in the New-Keynesian Model

    Pages 59-77

    Beck, Guenter W. (et al.)

Buy this book

eBook $109.00
price for USA in USD (gross)
  • ISBN 978-3-642-02953-0
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $149.99
price for USA in USD
  • ISBN 978-3-642-02952-3
  • Free shipping for individuals worldwide
  • Online orders shipping within 2-3 days.
Softcover $149.99
price for USA in USD
  • ISBN 978-3-662-51946-2
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
The Science and Practice of Monetary Policy Today
Book Subtitle
The Deutsche Bank Prize in Financial Economics 2007
Editors
  • Volker Wieland
Copyright
2010
Publisher
Springer-Verlag Berlin Heidelberg
Copyright Holder
Springer-Verlag Berlin Heidelberg
eBook ISBN
978-3-642-02953-0
DOI
10.1007/978-3-642-02953-0
Hardcover ISBN
978-3-642-02952-3
Softcover ISBN
978-3-662-51946-2
Edition Number
1
Number of Pages
X, 145
Topics