There has been a major shift within macroeconomic policy over the past two decades or so in terms of the relative importance given to monetary policy and to fiscal policy in both policy and theoretical terms. The former has gained considerably in importance, with the latter being rarely...

There have been important advances in monetary economics and macroeconomics recently. In macroeconomics there has been the paramount development of the New Consensus Macroeconomics along with significant policy implications, thereby giving rise to the notion of New Monetary Policy. This book...