Monetary Policy Theory: An Introduction to Game Theory Methods

Author: Gerhard Illing (Germany)
Publisher:
Publish Date: 2002-02-01
Features: Economic theory has made significant progress over the past decade, enabling it to address these questions. The purpose of this textbook is to help readers truly understand the advancements in modern economic research. This book introduces the fundamental principles of monetary policy theory, allowing readers to firmly grasp the rules that govern banking policy in Western economies. This book is an academic monograph in Europe that systematically studies monetary policy theory using game theory methods. The search for appropriate institutional rules and monetary policy strategies for central banks has garnered increasing attention not only in Europe but also worldwide. The author applies game theory methods to analyze all the issues in monetary policy theory, the forefront of current monetary economics research, and explains the models of monetary policy theory in an intuitive way, greatly simplifying the analytical methods and deepening the understanding of theoretical models through practical problems. The theoretical insights provided in the book have played a significant role in the design of the European Central Bank's institutional framework. The book presents novel theoretical perspectives and concise analysis, making it particularly suitable for Chinese readers and capable of sparking their strong interest in game theory and monetary policy theory.