Product Description

This book provides an in-depth description and analysis of monetary policy in Europe and the United States. Unusually for a volume in the field, it focuses on actual monetary policy---targets, institutions, strategies, and instruments---but traditional and contemporary theoretical approaches to monetary policy form the basis for each chapter. Concentrating specifically on the European Central Bank, Monetary Policy offers one of the first comprehensive guides to understanding the targets, strategy, and instruments of the ECB. In the past, many books have presented mere descriptions of the institutional framework without providing a theoretical framework, while others have dealt mainly with theoretical aspects, thus neglecting the policy implications of their analysis. By combining a theoretical with a policy-oriented approach, Peter Bofinger succeeds in closing this gap in the monetary policy literature. As a result, his book will appeal to a broad readership, including investment bankers and other professional investors, central bankers, and scholars working in the field.

Product Details

• Amazon Sales Rank: #258706 in Books
• Published on: 2001-10-04
• Original language: English
• Number of items: 1
• Binding: Paperback
• 480 pages

Review
A comprehensive user's guide to monetary policy ... a noble endeavour to improve understanding of the "dark art", to gather all the strands together so that this book is one that both practitioners and non-practitioners alike can benefit from. While central bankers will find it a valuable resource, academics will find it a useful work of reference and it should become a requisite handbook for students of central banking ... It is his [Bofinger's] blend of analysis of institutional practice within a theoretical framework that makes his book so useful. (Central Banking Journal )

About the Author
Peter Bofinger is Full Professor and Chair in Monetary and International Economics at the University of Wuerzburg. He is also Consultant for the European Commission, the European Parliament, the Government of Kazakstan, and the Central Bank of Uzbekistan.

Customer Reviews

The best that money can buy
Prof. Bofinger's new book "Monetary Policy" is more than just the new edition of the old textbook "Geldpolitik". The new concept gets obvious by reading the chapter "Transmission process". Mr. Bofinger included the Phillips-Curve into this section. The result is a new, but straight forward sight of activist and passivist monetary policy approaches.
The partition into three parts "Theoretical fundaments", "Monetary Policy in closed economies" and "Monetary Policy in open economies" is very good. The last chapter deals with the recent crises in emerging market economies in a decent way.
The book is certainly not only for Prof. Bofinger's students; much more I would like to recommend it to anyone interesting in monetary policy.