According to Chrystal (money and banking, City U. London, UK) and Mizen (monetary economics, U. of Nottingham, UK), monetary policy in the major industrial countries can generally be seen as a success, with a general consensus that has emerged in academia about how the economy works now underpinning central bank monetary policies that have led to general and persistent positive growth and low inflation over the course of the late 1990s and early 2000s. Over the course of this two volume set, they presents 37 papers reflecting the key advances in recent thinking that have led to this consensus, as well as discussing some of the outstanding controversies. The papers range from the late 1970s through the late 2000s. They are presented in sections discussing credibility and reputation, target zones, central bank independence, inflation targeting, monetary transmission, policy rules, monetary policy and asset prices, low inflation and zero bounds, the role of money in monetary policy, uncertainty and policy, lessons from recent monetary policy experience, and policymaking challenges for the future. Annotation ©2009 Book News, Inc., Portland, OR (booknews.com)