Experiences of Monetary Policy

The First Quarter of the 21st Century
Erscheinungsjahr 2026
ISBN: 978-1-009-66295-6
Verlag: Cambridge University Press

Buch, Englisch, 400 Seiten

The first quarter of the 21st Century was a difficult period. it covers the last few years of the Great Moderation but then the Global Financial Crisis of 2007-2008, followed by the shocks to the world economy caused by the Covid pandemic and the war in Ukraine. Written by a team of leading economists, Experiences of Monetary Policy provides a wide-ranging perspective on the evolution of monetary policy over this period in response to these developments, in general and with particular reference to some of the world's most important economies – both advanced economies and the emerging economies of China, India, Mexico, South Africa and Türkiye. It analyses what policies worked and what did not, and why. The Afterword includes a discussion on how monetary policy might develop in the future, in the light of the actions of the Trump administration in the US in its first year.

Autoren/Hrsg.

Cobham, David

Inhaltsverzeichnis

1. Foreword Charles Goodhart; 2. Introduction David Cobham; 3. Monetary policy frameworks from 1999 to 2023: moins ça change, moins c'est la même chose David Cobham; 4. The evolution of monetary policy frameworks in the world Filiz Unsal and Chris Papageorgiou; 5. Monetary policy in China: a different model? Rongrong Sun and Eric Girardin; 6. The ECB's monetary policy Bernd Hayo and Johannes Zahner; 7. The bank of Japan: the lonely forerunner of unconventional monetary policy Toshitaka Sekine; 8. Monetary policy challenges of the United States: 2000–2024 George Bratsiotis and Kasun D. Pathirage; 9. Monetary policy in India: the long road to inflation targeting Rajeswari Sengupta; 10. The evolving framework of inflation targeting in Mexico Carlos A Carrasco and Juan Alberto Vázquez-Muñoz; 11. Monetary policy in South Africa: building credibility, managing risk Vincent Dadam and Nicola Viegi; 12. Türkiye's monetary policy in the 21st century A. Hakan Kara; 13. British monetary policy, 1997–2024 William A. Allen and Richhild Moessner; 14. How does (un)conventional monetary policy work? Alex Haas and Michael McMahon; 15. Macroprudential policy: advances towards a new policy function Erlend Nier; 16. Global monetary policy interactions: patterns and drivers of policy rate co-movements Mengdi Song; 17. Financial sector interconnectedness and monetary policy transmission Daniel Carvalho; 18. Afterword David Cobham; Index.

Über Autor(innen)

Cobham, David
David Cobham is Emeritus professor in the Department of Economics at Heriot-Watt University, Edinburgh. He has worked at St Andrews and Heriot-Watt universities. He was a Houblon-Norman Fellow at the Bank of England in 1987 and 2001. He is author of The Making of Monetary Policy in the UK, 1975–2000 (2002) and co-editor of books including Twenty Years of Inflation Targeting (2010).