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...

This book deals with the key aspects of developments in monetary economics and macroeconomics, such as the New Consensus Macroeconomics, and further ones such as money, credit and the business cycle. Adding to the analysis are developments that focus on issues for open and spatial macroeconomics

This paper studies the consequences for the monetary policy design of information shortages on the part of the private sector. We model these shortages as exogenous shocks to expected output, which through an IS curve, disturb demand and output themselves. We constrain policymakers to follow...