Advances In Monetary Policy Design

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Advances In Monetary Policy Design

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Author : Ryadh M. Alkhareif
language : en
Publisher: Cambridge Scholars Publishing
Release Date : 2013-10-03

Advances In Monetary Policy Design written by Ryadh M. Alkhareif and has been published by Cambridge Scholars Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10-03 with Business & Economics categories.

In response to the recent financial crisis, many countries have initiated monetary stimulus packages. Maintaining proper measures of monetary aggregates is of particular importance for such economic policies. However, many central banks worldwide use the simple-sum monetary indexes, which ignore the liquidity characteristics of financial assets. Using the simple-sum indexes can produce misleading information, especially for broad monetary aggregates within which financial assets are not likely to be perfect substitutes. This book focuses on alternative economic stability indicators, and outlines the methods for constructing proper monetary and financial indicators – known as Divisia indexes. The Divisia monetary indexes are designed to measure accurately the liquidity in the economy by assigning different weights to different financial assets according to their usefulness in transactions. This book is highly relevant to economists interested in monetary policy and the construction of core inflation indicators and proper monetary indexes, in accordance with aggregation and index number theory. This book is the first to publish Divisia-based money supply indexes and core inflation indicators for the Gulf Cooperation Council (GCC) countries and for the Gulf Monetary Union. Researchers who use the financial data published by GCC central banks can use our indexes and findings to examine the interactions among the relevant macro-economic variables.

Monetary Theory And Policy

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Author : Carl E. Walsh
language : en
Publisher: MIT Press
Release Date : 2003

Monetary Theory And Policy written by Carl E. Walsh and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.

An overview of recent theoretical and policy-related developments in monetary economics.

Advancing The Frontiers Of Monetary Policy

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Author : Tobias Adrian
language : en
Publisher: International Monetary Fund
Release Date : 2018-04-13

Advancing The Frontiers Of Monetary Policy written by Tobias Adrian and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-13 with Business & Economics categories.

Contributors working at the International Monetary Fund present 14 chapters on the development of monetary policy over the past quarter century through the lens of the evolution of inflation-forecast targeting. They describe the principles and practices of inflation-forecast targeting, including managing expectations, the implementation of a forecasting and policy analysis system, monetary operations, monetary policy and financial stability, financial conditions, and transparency and communications; aspects of inflation-forecast targeting in Canada, the Czech Republic, India, and the US; and monetary policy challenges faced by low-income countries and how inflation-forecast targeting can provide an anchor in countries with different economic structures and circumstances.

Inflation Forecast Targeting

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Author : Kevin Clinton
language : en
Publisher: International Monetary Fund
Release Date : 2015-06-24

Inflation Forecast Targeting written by Kevin Clinton and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-24 with Business & Economics categories.

Many central banks in emerging and advanced economies have adopted an inflation-forecast targeting (IFT) approach to monetary policy, in order to successfully establish a stable, low-inflation environment. To support policy making, each has developed a structured system of forecasting and policy analysis appropriate to its needs. A common component is a model-based forecast with an endogenous policy interest rate path. The approach is characterized, among other things, by transparent communications—some IFT central banks go so far as to publish their policy interest rate projection. Some elements of this regime, although a work still in progress, are worthy of consideration by central banks that have not yet officially adopted full-fledged inflation targeting.

Evolving Monetary Policy Frameworks In Low Income And Other Developing Countries

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2015-10-23

Evolving Monetary Policy Frameworks In Low Income And Other Developing Countries written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-23 with Business & Economics categories.

Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.

The Great Inflation

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Author : Michael D. Bordo
language : en
Publisher: University of Chicago Press
Release Date : 2013-06-28

The Great Inflation written by Michael D. Bordo and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-28 with Business & Economics categories.

Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.

Advanced Introduction To Central Banks And Monetary Policy

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Author : de Haan, Jakob
language : en
Publisher: Edward Elgar Publishing
Release Date : 2022-08-12

Advanced Introduction To Central Banks And Monetary Policy written by de Haan, Jakob and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-08-12 with Business & Economics categories.

Written by two expert economists, this comprehensive Advanced Introduction provides a thorough and up-to-date analysis of central banks and monetary policy, analysing the ways in which views about monetary policy have developed and changed.

The Payment System

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Author : Mr.Bruce J. Summers
language : en
Publisher: International Monetary Fund
Release Date : 1994-12-15

The Payment System written by Mr.Bruce J. Summers and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-12-15 with Business & Economics categories.

This book makes a practical contribution to increased understanding of payment system design and management and of the relationship between the payment system and monetary policy. The authors of the twelve papers included in the book are central banking experts from around the world who draw on their experiences in providing technical assistance to the central banks of the countries of the former U.S.S.R.

Conditionality In Evolving Monetary Policy Regimes

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2014-05-03

Conditionality In Evolving Monetary Policy Regimes written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-03 with Business & Economics categories.

With single-digit inflation and substantial financial deepening, developing countries are adopting more flexible and forward-looking monetary policy frameworks and ascribing a greater role to policy interest rates and inflation objectives. While some countries have adopted formal inflation targeting regimes, others have developed frameworks with greater target flexibility to accommodate changing money demand, use of policy rates to signal the monetary policy stance, and implicit inflation targets.

Reassessing The Role And Modalities Of Fiscal Policy In Advanced Economies

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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2013-06-21

Reassessing The Role And Modalities Of Fiscal Policy In Advanced Economies written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-21 with Business & Economics categories.

This paper investigates how developments during and after the 2008–09 crisis have changed economists’ and policymakers’ views on: (i) fiscal risks and fiscal sustainability; (ii) the effectiveness of fiscal policy as a countercyclical tool; (iii) the appropriate design of fiscal adjustment programs; and (iv) the role of fiscal institutions.