Monetary Transmission in Diverse Economies [Hardcover]

This book explains different aspects of the transmission mechanism for monetary policy, using international data and examples.Monetary policy mistakes can cause serious economic damage. Central banks and their observers, worldwide must strive to understand the transmission mechanism of monetary policy so that they know what monetary policy can do and what it should do to stabilise inflation and output--however imprecise that understanding may be. The volume sets out different aspects of the transmission mechanism, covering practical difficulties, as well as focussing on key areas such as the exchange rate and the monetary sector. The experiences of many countries are explained.Monetary policy mistakes can cause serious economic damage. Central banks and their observers, worldwide must strive to understand the transmission mechanism of monetary policy so that they know what monetary policy can do and what it should do to stabilise inflation and output--however imprecise that understanding may be. The volume sets out different aspects of the transmission mechanism, covering practical difficulties, as well as focussing on key areas such as the exchange rate and the monetary sector. The experiences of many countries are explained.Monetary policy mistakes can cause serious economic damage. Central banks and their worldwide observers must strive to understand the transmission mechanism of monetary policy so that they know what monetary policy can do and what it should do to stabilize inflation and output--however imprecise that understanding may be. This volume sets out different aspects of the transmission mechanism, covering practical difficulties, as well as focusing on key areas such as the exchange rate and the monetary sector. The experiences of many countries are explained.1. Introduction - the transmission mechanism and monetary policy Lavan Mahadeva and Peter Sinclair; 2. Are the effects of monetary policy in the Euro area greater in recessions than in booms? Gerl“é