Monetary Policy in Developed Economies

This volume (the third in Greenwood’s Handbook of Comparative Economic Policies ) provides an overview and comparison of monetary policies in the United States and the world’s leading industrial, or G-7, countries. Although monetary policy is one of the most powerful and frequently used means of combating inflation and unemployment and of promoting long-term economic growth, there are many unresolved questions pertaining to the theory and practice of monetary policy. Moreover, in a world becoming increasingly interdependent, monetary policies in each industrial country have significant repercussions in other countries. This handbook intends to provide an exhaustive comparative overview of the theory and practice of monetary policy in developed economies. Following an introduction written by the editors, the volume is divided into three parts. Part one, encompassing five chapters, covers the major issues in the theory and practice of monetary policy, including monetary policy and the money supply process, monetary policy and economic activity, monetary policy and inflation, monetary policy and regulation, and monetary policy and bank regulation. Part two, comprising of two chapters, deals with monetary policy in the United States, and Part three includes chapters examining monetary policy in each of the other G-7 countries. A final chapter discussed monetary policy coordination in the European Monetary System. The chapters are written by experts in the field of monetary economics. Chapter references and a selected bibliography identify the most important sources of additional information.