© 2016

Monetary Analysis at Central Banks

  • David Cobham

Table of contents

  1. Front Matter
    Pages i-xi
  2. Jon Bridges, James Cloyne, Ryland Thomas, Alex Tuckett
    Pages 21-51
  3. Christopher Adam, Pantaleo Kessy, Ben Langford
    Pages 93-129
  4. Back Matter
    Pages 131-139

About this book


Whatever happened to the money supply? This book explains how the analysis of monetary and credit aggregates is undertaken at the Bank of England, the European Central Bank and (as an example of a developing country) the Bank of Tanzania. The book also explores how this analysis relates to these central banks' monetary policy strategies and how it feeds into policymaking. An editorial introduction provides the intellectual and historical background – from the contributions of key economists such as Milton Friedman and Jacques Polak, to monetary targeting and inflation targeting – and argues that central banks and policy analysts would be foolish to neglect the insights monetary analysis can offer. The papers compiled in Monetary Analysis at Central Banks demonstrate just how useful and varied those insights are.


Money supply Central banks Monetary targeting Inflation targeting Bank of England

Editors and affiliations

  • David Cobham
    • 1
  1. 1.School of Management & LanguagesHeriot-Watt UniversityEdinburghUnited Kingdom

About the editors

David Cobham taught at the University of St Andrews, Scotland, UK, from 1976 to 2005, during which time he was Houblon-Norman research fellow at the Bank of England in 1987 and again in 2001. Since 2005 he has been Professor of Economics at Heriot-Watt University, Scotland, UK. David specialises in monetary policy and has published numerous papers and books in this area.

Bibliographic information


“By covering the monetary-policy frameworks and implications in three countries, partly with a comparative perspective, this book contributes to the understanding of the changes in monetary policy analysis in the post-GR period. As such, it is of considerable interest to those in the central-banking practice, as well monetary theorists around the world.” (Bilin Neyapti, Journal of Economic Literature, Vol. 55 (1), March, 2017)