Monetary Policy in Low-Inflation Economies
Book Details
Format
Hardback or Cased Book
ISBN-10
0521848504
ISBN-13
9780521848503
Publisher
Cambridge University Press
Imprint
Cambridge University Press
Country of Manufacture
US
Country of Publication
GB
Publication Date
Jul 31st, 2009
Print length
356 Pages
Weight
62 grams
Dimensions
23.40 x 16.00 x 2.70 cms
Product Classification:
MacroeconomicsMonetary economicsPublic finance
Ksh 13,150.00
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The essays in this volume investigate the challenges of transitioning to lower levels of inflation and conducting monetary policy in low-inflation economies. The essays make both theoretical and empirical contributions.
All central banks manage the supply of money and credit in their countries, increasing and decreasing them as needed to provide what economies need to keep growing. The way central banks typically handle that job involves short-term interest rates. But when inflation is low, central banks can''t use their usual methods to get money and credit into an economy that needs it. Several essays in this volume describe the work of economists who have investigated problems that central banks might have when inflation gets low. Other essays investigate related questions such as whether an economy suffers when it moves from high inflation to low inflation, what the costs of inflation are to economic welfare, and whether a little bit of inflation can actually be good for economic growth.
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