Overview

"""Monetary Policy in Advanced Economies: What New Normal"" is a comprehensive book written by Manuel Perto, an experienced economist who has worked in both academia and policy-making. The book examines the current state of monetary policy in advanced economies and discusses the challenges and opportunities faced by central banks in the aftermath of the 2008 financial crisis. The book starts by providing an overview of the evolution of monetary policy over the last few decades, highlighting the changes in the goals and tools of central banks. It then examines the impact of the global financial crisis on monetary policy and the measures taken by central banks to address the crisis. Perto discusses the unconventional monetary policies adopted by central banks, such as quantitative easing and negative interest rates, and their effectiveness in promoting economic growth and stability. Perto then delves deeper into the challenges facing central banks in the current economic environment. He discusses the low-interest-rate environment and the impact it has on the economy, including the potential for creating asset bubbles and contributing to income inequality. He also examines the issue of financial stability and the role of central banks in promoting it. The book also discusses the increasing role of technology in the financial sector and the challenges it presents for monetary policy. Perto explores the implications of digital currencies, such as Bitcoin, and their potential impact on monetary policy and the financial system as a whole. Throughout the book, Perto provides a balanced and nuanced analysis of the challenges and opportunities facing central banks in the current economic environment. He draws on his extensive experience in both academia and policy-making to provide insights that are both practical and informed by rigorous economic analysis. Overall, ""Monetary Policy in Advanced Economies: What New Normal"" is a must-read for anyone interested in understanding the current state of monetary policy and the challenges facing central banks in the aftermath of the 2008 financial crisis. It provides a comprehensive and insightful analysis of the issues and is written in a clear and accessible style that makes it suitable for both academics and practitioners."

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9781805285670

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