The success over the years in reducing inflation and, consequently, the average level of nominal interest rates has increased the likelihood that the nominal po

In The Structural Foundations of Monetary Policy, Michael D. Bordo, John H. Cochrane, and Amit Seru bring together discussions and presentations from the Hoover

We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary

This open access book gives a concise introduction to the practical implementation of monetary policy by modern central banks. It describes the conventional ins