Beginning with an assessment of new thinking in macroeconomics and monetary theory, this book suggests that many … countries have adopted the New Consensus Monetary Policy since the early 1990s in an attempt to reduce inflation to low levels … the central bank. The objective of these rules is to achieve specific, or a range of, inflation targets …

; credibility and transparency; the inflation forecast and the loss function; monetary policy experiences in the US and the UK; the …1. No money, no inflation : the role of money in the economy -- 2. Central bank independence -- 3. The use and meaning … of words in central banking : inflation, targeting, credibility and transparency -- 4. The inflation forecast and the …

Monetarism is dead! Central bankers are all Wicksellians now! They target low inflation rates, with no regard to …

this relationship, and a formalisation of the theory of monetary reform. It goes on to offer an empirical assessment of the … theory, using cross-section methods and case studies, before finally presenting economic policy options for countries facing …

great inflation of the late 1960s and 1970s. It is the first detailed analysis, using Federal Reserve documents, of the … policy that led to this inflation. Thomas Mayer considers forecasting errors and wage and price controls in his attempt to … explain why the inflation occurred and places some of the blame on ineffective operating procedures, institutional …

The preparation for European Monetary Union and the significant drop in inflation characterize the 1990s for European … monetary policymakers. In the near future, the European Central Bank will be given the responsibility to fight inflation in the … European Central Bank in choosing an appropriate monetary strategy for achieving price stability. The dynamics of inflation and …

operate at the level of full employment without provoking unmanageable inflation. They also contend that budget deficits do …pt. I. Introduction -- pt. II. Functional finance : the background -- pt. III. Assessing the inflation barrier -- pt …

Axel Leijonhufvud has made a unique contribution to the development of macroeconomic theory. This volume draws together … his insightful essays dealing with the extremes of economic instability: great depressions, high inflation and the …pt. 1. Keynesianism, monetarism and rational expectations -- pt. 2. Monetary regimes and inflation -- pt. 3. Markets …

The problems associated with chronically high inflation and hyper inflation continue to preoccupy policy makers and … experiences of hyperinflation and cases of chronic inflation, this volume continues with papers on the conditions which are … conducive to generating high inflation. The link between monetary policy and inflation is examined through empirical studies of …