Home > Economics > An Overview of Research in Monetary Economics

An Overview of Research in Monetary Economics

Christina Romer and David Romer have recently written about monetary economics, and an excerpt of their report is available below (via Economist’s View):

The subject matter of monetary economics encompasses a large part of macroeconomics. Most obviously, monetary economics is concerned with the conduct, effects, institutions, and history of monetary policy. But it extends far beyond that. The sources of aggregate fluctuations, the channels through which changes in monetary policy and other developments are transmitted to the macroeconomy, and households’ and firms’ decisions about consumption, investment, prices, and other variables that are critical to aggregate fluctuations are all important subjects in monetary economics. Indeed, the unofficial working definition of “monetary economics” that is used by the NBER’s Program in Monetary Economics is “anything that central bankers should be interested in.”…

In this report, we provide an overview of some of the lines of research that have been pursued in the program in the past few years. As the previous discussion suggests, however, the work done in the program is so diverse that we can only discuss a small part of it.

Read the complete text >>

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