Experiences of Monetary Policy : The First Quarter of the 21st Century

It provides analytical narratives of monetary policy over the period in a range of countries and policy areas, i.e. basic chronologies plus analytical discussion of relevant policy issues. In other words, it offers advanced students and researchers the essential and authoritative background for more technical, especially econometric, analysis.

The first quarter of the 21st Century was a difficult period. it covers the last few years of the Great Moderation but then the Global Financial Crisis of 2007-2008, followed by the shocks to the world economy caused by the Covid pandemic and the war in Ukraine. Written by a team of leading economists, Experiences of Monetary Policy provides a wide-ranging perspective on the evolution of monetary policy over this period in response to these developments, in general and with particular reference to some of the world's most important economies – both advanced economies and the emerging economies of China, India, Mexico, South Africa and Türkiye. It analyses what policies worked and what did not, and why. The Afterword includes a discussion on how monetary policy might develop in the future, in the light of the actions of the Trump administration in the US in its first year.