Monetary Policy Implementation

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Focusing on the evolution of monetary policy implementation, the book examines the operational frameworks adopted by central banks in response to recent financial crises. It highlights the shift towards unconventional instruments, such as large-scale asset purchases and long-term refinancing, and the resulting changes in central bank balance sheets. As inflation rises, it explores the transition to a "new normal" that blends traditional and unconventional approaches. The analysis includes comparative insights from major central banks and addresses key questions about policy patterns, theoretical frameworks, and exit strategies.