International Dimensions of Monetary Policy.

• Position: Bureau Books

International Dimensions of Monetary Policy, edited by Jordi Gali and Mark J. Gertler, will be available from the University of Chicago Press this winter for $120.00.

Traditionally, U.S. monetary policy was modeled under the assumption that the domestic economy was immune to international factors and external shocks. That assumption has become increasingly unrealistic in this age of integrated capital markets, tighter links between national economies, and reduced trading costs. This NBER Conference Volume addresses the various repercussions of the continuing evolution toward globalization for the conduct of monetary policy. The contributing authors examine both real and potential effects of increased openness and exposure to international economic dynamics...