Introduction to Central Banking, Monetary Policy, and Exchange Rates

Lilian Rolim, Nathalie Marins and Sylvio Antonio Kappes

A chapter in Central Banking, Monetary Policy, and Exchange Rates, 2026, pp 1-4 from Edward Elgar Publishing

Abstract: In recent decades, the framework of central banking and monetary policymaking has undergone significant transformations. Among these changes is a growing recognition that the exchange rate should not be viewed merely as a passive shock absorber. Instead, it is increasingly understood as a strategic policy variable, one that plays a critical role in achieving monetary and broader economic objectives in many economies. Inspired by these discussions, this book brings together contributions that discuss how exchange rate dynamics intersect with central banking practices and monetary policy strategies, and how they influence growth and inflation. By bringing together eight theoretical and empirical chapters, the book offers a comprehensive view of monetary policy in an open economy, in particular from a post-Keynesian perspective.

Keywords: Exchange Rates; Monetary Policy; Central Banking; Open Economies; Post-Keynesian Economics; Capital Flows (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035330041
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