Monetary Theory and Policy

Focusing on monetary economics, this comprehensive textbook delves into essential topics, including the effective lower bound on nominal interest rates. It balances insight, accessibility, and rigor, presenting primary models used in theory and policy. The book not only covers basic theoretical approaches but also guides readers on simulation work with these models. Additionally, it explores various frictions that economists analyze to understand the impacts of monetary policy, making it a valuable resource for students and practitioners alike.