Institutions And Monetary Policy
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Institutions And Monetary Policy
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Author : Eric Schaling
language : en
Publisher: Edward Elgar Publishing
Release Date : 1995
Institutions And Monetary Policy written by Eric Schaling 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 1995 with Business & Economics categories.
Central bank independence is a key issue for political and monetary authorities in many countries. In this text, the author looks at the impact of different central banks on price stability and macroeconomic performance, and their optimal degree of legislative independence.
The Evolution Of Monetary Policy And Banking In The Us
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Author : Donald D. Hester
language : en
Publisher: Springer Science & Business Media
Release Date : 2008-03-30
The Evolution Of Monetary Policy And Banking In The Us written by Donald D. Hester and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-03-30 with Business & Economics categories.
A concise analysis of the evolution of monetary policy and banking institutions over the past sixty years that stresses the dynamic interactions between the Federal Reserve and banking institutions that resulted from financial market innovations. Institutions were influenced by increasing competition in markets and monetary policies. The book consists of two parts, which are organized chronologically. The first has chapters that correspond with terms of chairmen of the Federal Reserve Board. It critically analyzes decisions taken by the Federal Open Market Committee in each period and argues that innovations forced changes in the design and conduct of monetary policy. The second part analyzes how banking institutions evolved from a very conservative and regulated system in 1945 to highly inventive financial firms and how this evolution has affected the distribution of credit, wealth, and income in the US.
Current Issues In The Design And Conduct Of Monetary Policy
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Author : Mr.Mohsin S. Khan
language : en
Publisher: International Monetary Fund
Release Date : 2003-03-01
Current Issues In The Design And Conduct Of Monetary Policy written by Mr.Mohsin S. Khan 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 2003-03-01 with Business & Economics categories.
Movements in global capital during the late 1990s and the greater emphasis on price stability led many countries to abandon fixed exchange rate regimes and to design institutions and monetary policies to achieve credibility in the goal of lowering inflation. Such recent developments have brought to the forefront the idea that freely mobile capital, independent monetary policy, and fixed exchange rates form an "impossible trinity." It is possible to have two of these policies, but not all three. Inflation-targeting regimes being adopted by many countries provide a way of resolving this dilemma.
Central Banks As Economic Institutions
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Author : Jean-Philippe Touffut
language : en
Publisher: Edward Elgar Publishing
Release Date : 2008-01-01
Central Banks As Economic Institutions written by Jean-Philippe Touffut 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 2008-01-01 with Business & Economics categories.
Theories and practices in central banking and monetary policy have changed radically over recent decades with independence and inflation targeting as the new keywords. This book offers interesting perspectives on the drivers of this development and its implication. It addresses contemporary questions on accountability, transparency and objectives for monetary policy as well as current policy problems related to globalization and financial imbalances. The book is topical, insightful and well written a must for everybody with an interest in central banking and monetary policy. Torben M. Andersen, University of Aarhus, Denmark The number of central banks in the world is approaching 180, a tenfold increase since the beginning of the twentieth century. What lies behind the spread of this economic institution? What underlying process has brought central banks to hold such a key role in economic life today? This book examines from a transatlantic perspective how the central bank has become the bank of banks. Thirteen distinguished economists and central bankers have been brought together to evaluate how central banks work, arrive at their policies, choose their instruments and gauge their success in managing economies, both in times of crisis and periods of growth. Central banks have gained greater independence from government control over the last 20 years. This widespread trend throws up new questions regarding the foundations, prerogatives and future of this economic institution. This book provides a better understanding of the current financial crisis through the in-depth study of the central bank. Researchers in the fields of monetary theory, monetary policy and central banking will find this volume of great interest. It will also appeal to students of economics, political economy, banking and finance, as well as economists, academics, and public policy advisers and analysts.
Money Financial Institutions And Macroeconomics
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Author : Avi J. Cohen
language : en
Publisher: Springer
Release Date : 1997-05-31
Money Financial Institutions And Macroeconomics written by Avi J. Cohen and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-05-31 with Business & Economics categories.
These 18 papers from the April 1995 conference at York U., Toronto present comparative and international perspectives on recent research in monetary theory and its application to practical policy issues. Although the contributors tend to emphasize the importance of credit creation in the monetary process, some of the authors offer more mainstream approaches. Topics include the roles of interest rate determination and the endogeneity of money in the credit economy, and monetary policy in North America and Europe. Annotation copyrighted by Book News, Inc., Portland, OR
Monetary Policy
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Author : Peter Bofinger
language : en
Publisher: Oxford University Press
Release Date : 2001-10-04
Monetary Policy written by Peter Bofinger and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-10-04 with Business & Economics categories.
This book provides an in-depth description and analysis of monetary policy in Europe and the United States. Unusually for a volume in the field, it focuses on actual monetary policy—-targets, institutions, strategies, and instruments—-but traditional and contemporary theoretical approaches to monetary policy form the basis for each chapter. Concentrating specifically on the European Central Bank, Monetary Policy offers one of the first comprehensive guides to understanding the targets, strategy, and instruments of the ECB. In the past, many books have presented mere descriptions of the institutional framework without providing a theoretical framework, while others have dealt mainly with theoretical aspects, thus neglecting the policy implications of their analysis. By combining a theoretical with a policy-oriented approach, Peter Bofinger succeeds in closing this gap in the monetary policy literature. As a result, his book will appeal to a broad readership, including investment bankers and other professional investors, central bankers, and scholars working in the field.
Inflation Targeting And Central Banks
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Author : Joanna Niedźwiedzińska
language : en
Publisher: Routledge
Release Date : 2021-07-28
Inflation Targeting And Central Banks written by Joanna Niedźwiedzińska and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-28 with Business & Economics categories.
Over the last three decades, inflation targeting (IT) has become the most popular monetary policy framework among larger economies. At the same time, its constituting features leave room for different interpretations, translating into various central banks’ institutional set-ups. Against this backdrop, this book investigates the importance of institutional arrangements for policy outcomes. In particular, the book answers the question of whether there are significant differences in IT central banks’ institutional set-ups, and—if yes—whether they influence the ability of monetary authorities to meet their policy goals. The book examines around 70 aspects related to independence, accountability and transparency of 42 IT central banks over the last 30 years. Based on the analysis, it can be concluded that the quality of the institutional set-ups materially affects monetary policy effectiveness. In fact, a visible improvement of institutional arrangements resulting from pursuing an inflation targeting strategy can be treated as its lasting contribution to central banking. Thus, despite the recent critique of the framework, its prospects continue to be rather favourable. Overall, for the advocates of inflation targeting, the findings of the book can be seen as identifying the sources of IT strengths, while for IT opponents, they may be viewed as indicating which elements of IT institutional set-ups should be kept even if the need to replace this strategy with another regime will, indeed, result in a change. Given the role monetary policy plays within the economy, such knowledge may have significant implications. Therefore, the book will be relevant for different audiences, including scholars and researchers of monetary economics and monetary policy, and will be essential reading for central banks already pursuing an IT strategy or those preparing to adopt one. Importantly, the book includes supplementary indices of proposed institutional arrangements that assess a range of aspects related to IT central bank’s independence, accountability, and transparency. Readers thus have access to the author’s full database, which covers individual indices for all monetary authorities investigated across the given period of analysis.
Issues In Monetary Policy
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Author : Kent Matthews
language : en
Publisher: John Wiley & Sons
Release Date : 2006-02-22
Issues In Monetary Policy written by Kent Matthews and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-02-22 with Business & Economics categories.
Since the Bank of England was made independent in 1997, the conduct of monetary policy has been relatively uncontroversial. The debates between Keyneisans, monetarists and supporters of fixed exchange rate mechanisms now appear very distant. Despite the apparent consensus there are many issues related to the conduct of monetary policy that are not yet settled and which will soon come to the fore. Is the current form of independence for the Bank of England appropriate? Should a central bank target inflation or the prices level? How does a central bank deal with asset price deflation? Should more account be taken of monetary aggregates? Should central banks target asset prices? What is the relationship between the money supply and asset price inflation? How should central banks ensure financial stability? The IEA was at the forefront of changing the parameters of the debate surrounding monetary policy in the 1970s and 1980s. This text, brings together some of the leading authors in the field, including the current Governor of the Bank of England, to discuss current issues in monetary policy and the relationship between monetary policy and financial markets. It is appropriate for undergraduates and postgraduates in economics and finance as well as for practitioners in financial markets.
Monetary Policy In Times Of Crisis
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Author : Massimo Rostagno
language : en
Publisher: Oxford University Press
Release Date : 2021
Monetary Policy In Times Of Crisis written by Massimo Rostagno and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with Business & Economics categories.
The first twenty years of the European Central Bank offer a unique insight into how a central bank can navigate macroeconomic insecurity and crisis. This volume examines the structures and decision-making processes behind the complex measures taken by the ECB to tackle some of the toughest economic challenges in the history of modern Europe.
Asian Monetary Policy Forum The Insights For Central Banking
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Author : Steven J Davis
language : en
Publisher: World Scientific
Release Date : 2021-06-03
Asian Monetary Policy Forum The Insights For Central Banking written by Steven J Davis and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-03 with Business & Economics categories.
The Monetary Authority of Singapore, Asian Bureau of Finance and Economic Research, University of Chicago Booth Business School, and National University of Singapore Business School have organised the Asian Monetary Policy Forum (AMPF) annually since 2014. The Forum brings together eminent academics, policymakers and private sector economists to deliberate pressing monetary policy issues particularly relevant for Asian countries.This volume collects the inaugural speech and commissioned papers from the past Forums from 2014 to 2020. The chapters cover a range of topics that have assumed importance in the global monetary and financial system over the past twenty years. These include the efficacy of traditional monetary policy frameworks amid synchronised global financial flows, the challenges presented by the US dollar dominance, and the optimality of central banks' use of a broader set of policy instruments within an integrated policy framework. Policymakers, practitioners, students and academicians will be able to draw from this volume useful insights to understand these complex policy challenges.