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World-class scholars summarize recent monetary economics scholarship

Table of Contents

The Mechanism Design Approach to Monetary Theory--Neil Wallace
New Monetarist Economics: Models--Stephen Williamson and Randall Wright
Money and Inflation: Some Critical Issues--Bennett T. McCallum and Edward Nelson
Rational Inattention and Monetary Economics--Christopher A. Sims
Imperfect Information and Aggregate Supply--N. Gregory Mankiw and Ricardo Reis
Microeconomic Evidence on Price-Setting--Peter J. Klenow and Benjamin A. Malin
DSGE Models for Monetary Policy Analysis--Lawrence J. Christiano, Mathias Trabandt and Karl Walentin
How Has the Monetary Transmission Mechanism Evolved over Time?--Jean Boivin, Michael T. Kiley and Frederick S. Mishkin
Inflation Persistence--Jeffrey C. Fuhrer
Monetary Policy and Unemployment--Jordi Gali
Financial Intermediation and Credit Policy in Business Cycle Analysis--Mark Gertler and Nobuhiro Kiyotaki
Financial Intermediaries and Monetary Economics--Tobias Adrian and Hyung Song Shin
The Optimal Rate of Inflation--Stephanie Schmitt-Grohe and Martin Uribe
Optimal Monetary Stabilization Policy--Michael Woodford
Simple and Robust Rules for Monetary Policy--John B. Taylor and John C. Williams
Optimal Monetary Policy in Open Economies--Giancarlo Corsetti, Luca Dedola and Sylvain Leduc
The Interaction Between Monetary and Fiscal Policy--Matthew Canzoneri, Robert Cumby and Behzad Diba
The Politics of Monetary Policy--Alberto Alesina and Andrea Stella
Inflation Expectation, Adaptive Learning and Optimal Monetary Policy--Vitor Gaspar, Frank Smets and David Vestin
Wanting Robustness in Macroeconomics--Lars Peter Hansen and Thomas J. Sargent
Monetary Policy Regimes and Economic Performance: The Historical Record, 1979-2008--Luca Benati and Charles Goodhart
Inflation Targeting--Lars E.O. Svensson
The Performance of Alternative Monetary Regimes--Laurence Ball
The Implementation of Monetary Policy: How Do Central Banks Set Interest Rates?--Benjamin M. Friedman and Kenneth N. Kuttner
Monetary Policy in Emerging Markets--Jeffrey Frankel

About the Author

Michael Woodford is the John Bates Clark Professor of Political Economy at Columbia University. His first academic appointment was at Columbia in 1984, after which he held positions at the University of Chicago and Princeton University, before returning to Columbia in 2004. He received his A.B. from the University of Chicago, his J.D. from Yale Law School, and his Ph.D. in Economics from the Massachusetts Institute of Technology. He has been a MacArthur Fellow and a Guggenheim Fellow, and is a Fellow of the American Academy of Arts and Sciences, as well as a Fellow of the Econometric Society, a Research Associate of the National Bureau of Economic Research (Cambridge, Mass.), and a Research Fellow of the Centre for Economic Policy Research (London). In 2007 he was awarded the Deutsche Bank Prize in Financial Economics. Woodford’s primary research interests are in macroeconomic theory and monetary policy. He has written extensively about the microeconomic foundations of the monetary transmission mechanism, the role of interest rates in inflation determination, rules for the conduct of monetary policy, central-bank communication policy, interactions between monetary and fiscal policy, and the consequences of electronic payments for monetary control. His most important work is the treatise Interest and Prices: Foundations of a Theory of Monetary Policy, recipient of the 2003 Association of American Publishers Award for Best Professional/Scholarly Book in Economics. He is the co-editor of the Handbook in Economics series.