Kent Matthews & Philip M. Booth 
Issues in Monetary Policy [PDF ebook] 
The Relationship Between Money and the Financial Markets

Since the Bank of England was made independent in 1997, the conduct
of monetary policy has been relatively uncontroversial. The debates
between Keyneisans, monetarists and supporters of fixed exchange
rate mechanisms now appear very distant.

Despite the apparent consensus there are many issues related to
the conduct of monetary policy that are not yet settled and which
will soon come to the fore. Is the current form of independence for
the Bank of England appropriate? Should a central bank target
inflation or the prices level? How does a central bank deal with
asset price deflation? Should more account be taken of monetary
aggregates? Should central banks target asset prices? What is the
relationship between the money supply and asset price inflation?
How should central banks ensure financial stability?

The IEA was at the forefront of changing the parameters of the
debate surrounding monetary policy in the 1970s and 1980s. This
text, brings together some of the leading authors in the field,
including the current Governor of the Bank of England, to discuss
current issues in monetary policy and the relationship between
monetary policy and financial markets. It is appropriate for
undergraduates and postgraduates in economics and finance as well
as for practitioners in financial markets.

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Kent Matthews is the Julian Hodge Professor of Banking and
Finance at Cardiff University. He trained at the London School of
Economics, Birkbeck College and Liverpool University and has held
previous academic positions at Liverpool University, Liverpool
Business School. He has held visiting posts at the Catholic
University of Leuven Belgium, Humbolt University, Berlin and
University of Western Ontario, Canada as well as professional posts
at the National Institute of Economic & Social Research, the
Bank of England and Lombard Street Research Ltd.

Philip Booth BA, Ph D, FIA, FSS is Editorial and Programme
Director at the Institute of Economic Affairs and Professor of
Insurance and Risk Management at Cass Business School, City
University. He has previously worked as a special advisor on
financial stability issues for the Bank of England. Philip Booth is
editor of the journal Economic Affairs and associate editor
of the British Actuarial Journal. He is a Fellow of the
Institute of Actuaries and of the Royal Statistical Society.
Amongst previous books he has written are Investment
Mathematics (Wiley), Modern Actuarial Theory and
Practice (CRC/Chapman Hall) and The Way Out of the Pensions
Quagmire (Institute of Economic Affairs). He teaches,
researches and writes in the areas of finance, investment and
social insurance.