"Since the end of the Great Recession in 2009 the central banks of the advanced countries have taken unprecedented actions to reflate and stimulate their economies. There have been significant differences in the timing and pace of these actions...These independent monetary policy actions have had significant spillover effects on the economies and monetary policy strategies of other advanced countries. In addition the monetary policy actions and interventions of the advanced countries have had a significant impact on the emerging market economies leading to the charge of 'currency wars.' The perceived negative consequences of spillovers from the actions of national central banks has led to calls for international monetary policy coordination...The arguments for coordination based on game theory are the same today as back in the 1980s...[which led to accords that requried participating countries to] follow policies to improve global welfare at the expense of domestic fundamentals...An alternative approach to the international spillovers of national monetary policy actions is to view them as deviations from rules based monetary policy...In this book, [the editors] report the results from a recent conference which brought together academics, market participants, and policymakers to focus on these issues."--