Central Banks and Financial Markets: The Declining Power of US Monetary Policy

In the wake of the financial crisis of 2008, there has been increasing debate over the appropriate role of central banks in mitigating economic disaster. This timely volume combines detailed historical and econometric analyses to explore the profound changes that occurred within the US financial system from the 1980s to the present, and shows how these changes have affected the US economy.

Hasan Cömert demonstrates how dramatic shifts in the financial system undermined the ability of the US ...