For monetary policymakers worldwide, developing a practical understanding of how monetary policy transmits to the economy is a day-to-day challenge. The data such policymakers have is imperfect, the maps they use are continually redrawn. With such uncertainty, understanding this complicated issue is rarely straightforward.
This book, a collaboration between some of the finest minds working on monetary theory in the world, helps to provide a foundation for understanding monetary policy in all its complex glory. Using models, case studies and new empirical evidence, the contributors to this...