Part TwoMonetary Stability
Part II examines various aspects of monetary stability, the dominant central banking mandate for the past 30 years.
Chapter 5 reviews the theoretical foundations of monetary policy, the policy that a central bank uses in regulating monetary conditions in the economy in order to achieve monetary stability.
Chapter 6 looks at different monetary policy regimes (i.e., rules) that central banks might adopt in the pursuit of monetary stability.
Chapter 7 looks at monetary policy implementation, which is often done through operations in financial markets.
Chapter 8 looks at how monetary policy transmits across the economy and affects monetary stability as well as output and employment.
Chapter 9 is devoted to the exchange rate, another key variable that central banks have to watch, given that it is the price of money and that it can affect monetary stability as well as financial stability.
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