The first twenty years of the European Central Bank offer a unique insight into how a central bank can navigate macroeconomic insecurity and crisis. This volume

An overview of recent theoretical and policy-related developments in monetary economics.

The Federal Reserve System, created in the early 20th century, is now more than a hundred years old. This book takes the reader through the founding and first c

The paper considers the merits of rules and discretion for monetary policy when the structure of the macroeconomic model and the probability distributions of di

This note provides guidance to facilitate the staff’s advice on macroprudential policy in Fund surveillance. It elaborates on the principles set out in the �