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Interest Rates, Prices and Liquidity
By:Jagjit S. Chadha,Sean Holly
Published on 2011-10-27 by Cambridge University Press

Many of the assumptions that underpin mainstream macroeconomic models have been challenged as a result of the traumatic events of the recent financial crisis. Thus, until recently, it was widely agreed that although the stock of money had a role to play, in practice it could be ignored as long as we used short-term nominal interest rates as the instrument of policy because money and other credit markets would clear at the given policy rate. However, very early on in the financial crisis interest rates effectively hit zero percent and so central banks had to resort to a wholly new set of largely untested instruments to restore order, including quantitative easing and the purchase of toxic financial assets. This book brings together contributions from economists working in academia, financial markets and central banks to assess the effectiveness of these policy instruments and explore what lessons have so far been learned.

This Book was ranked at 18 by Google Books for keyword Monetary economics.

Book ID of Interest Rates, Prices and Liquidity's Books is 91HEnOVwvbEC, Book which was written byJagjit S. Chadha,Sean Hollyhave ETAG "/G4t4Ok1gAE"

Book which was published by Cambridge University Press since 2011-10-27 have ISBNs, ISBN 13 Code is 9781139505260 and ISBN 10 Code is 1139505262

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