Monetary Policy Implementation

Name: Monetary Policy Implementation
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ISBN: 9781009706834

Stephen Williamson (University of Western Ontario)

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English

Cambridge University Press
21 May 2026

Public administration; Monetary economics; Banking

Series: Elements in Money and Banking

Summary
Details

Monetary policy implementation refers to the mechanism for interbank payments, the set of administered interest rates, and the strategy for central bank actions designed to achieve an intermediate monetary policy goal – for example a target for an overnight nominal interest rate. This piece shows the implications of the Poole model – a common framework used to articulate ideas about monetary policy implementation – for corridor and floor systems of monetary policy implementation. A general equilibrium Poole-type dynamic model is also studied, which shows where Poole-type analysis can go wrong. Given current interest in how large central bank balance sheets and floor systems matter, the author also analyzes a general equilibrium model of quantitative easing and discusses issues with quantitative easing and monetary policy.

By: Stephen Williamson (University of Western Ontario)
Imprint: Cambridge University Press
Country of Publication: United Kingdom
Weight: 92g
ISBN: 9781009706834
ISBN 10: 1009706837
Series: Elements in Money and Banking
Pages: 52
Publication Date: 21 May 2026
Audience: Professional and scholarly , Undergraduate
Format: Paperback
Publisher's Status: Active