Money in the Modern World

The Authors: Josef Jílek is Professor of Macroeconomics at the University of Economics, Prague (Czech Republic) and chief expert at the Czech National Bank. He lectures regularly and has published 17 books and many professional and scientific papers.Roman Matoušek is Principal Lecturer in International Banking at London Metropolitan Business School. His research encompasses theoretical and empirical inquiry into issues of emerging markets economies, banking regulation, and monetary policy.

• Contents: Money – Monetary aggregates – Liquidity – Reserve requirements – Seigniorage – Monetary policy – Issue of currency – Operating target – Intermediate target – Ultimate target – Open market operations – Inflation targeting – Monetary policy transmission mechanism – Monetary policy channels – Foreign exchange intervention – Dollarization – Payment system.