Economic and financial integration has reshaped the monetary policy frameworks and transmission channels in the emerging market economies (EMEs) over the past two decades. Economic and financial linkages have become stronger, resulting in greater synchronization of business cycles across...

Intro -- Contents -- Preface -- Introduction: Central Bank Lessons from the Global Crisis -- I MONETARY POLICY IN VIEW OF THE CRISIS -- 1. Monetary Policy Frameworks after the Great Financial Crisis -- 2. The Role of Monetary Policy in Turkey during the Global Financial Crisis -- 3. An...

This volume is a collection of papers which were presented and discussed at a conference in January 1990 at the Bank of Israel and Tel Aviv University. The volume has three parts. The first part deals with the rules and the constraints that are fundamental for central bank policy making. It...