Abstract
This chapter provides the motivation and an overview of the book. During the last fifteen years, several innovations have been introduced in the art of central banking, that go under the name of “unconventional policies”. They have left a durable legacy, as the tools introduced under those policies remain in the toolkit of central banks. The focus of the book is on the operational framework, showing its evolution over time. The topic is relevant for the effectiveness of monetary policy, the institutional setup of central banks, and the smooth operation of money markets and financial intermediation. The book provides a simple model of monetary policy implementation, which is used to interpret the experience of some central banks, namely: ECB, Fed, BoE, and BoJ. Finally, two very innovative topics are addressed: Central Bank Digital Currency and “greening” monetary policy.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2024 The Author(s), under exclusive license to Springer Nature Switzerland AG
About this chapter
Cite this chapter
Baglioni, A. (2024). Introduction. In: Monetary Policy Implementation. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-53885-8_1
Download citation
DOI: https://doi.org/10.1007/978-3-031-53885-8_1
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-031-53884-1
Online ISBN: 978-3-031-53885-8
eBook Packages: Economics and FinanceEconomics and Finance (R0)