Monetary Policy Frameworks In A Global Context
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Monetary Policy Frameworks In A Global Context
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Author : Lavan Mahadeva
language : en
Publisher: Routledge
Release Date : 2012-11-12
Monetary Policy Frameworks In A Global Context written by Lavan Mahadeva and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-12 with Business & Economics categories.
This broad-ranging collection assesses the links between targets and central bank independence, accountability and the transparency of monetary policy. Renowned experts contribute to this original and comprehensive text which will be of great value to professional economists and students of economics and banking alike. Monetary Policy Frameworks in a Global Context was named Book of the Year, 2000 by Central Banking journal
Monetary Policy Frameworks In A Global Context
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Author : Lavan Mahadeva
language : en
Publisher: Routledge
Release Date : 2012-11-12
Monetary Policy Frameworks In A Global Context written by Lavan Mahadeva and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-12 with Business & Economics categories.
This broad-ranging collection assesses the links between targets and central bank independence, accountability and the transparency of monetary policy. Renowned experts contribute to this original and comprehensive text which will be of great value to professional economists and students of economics and banking alike. Monetary Policy Frameworks in a Global Context was named Book of the Year, 2000 by Central Banking journal
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.
Issues In Monetary And Fiscal Policy In Small Developing States
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Author : Anthony Birchwood
language : en
Publisher: Commonwealth Secretariat
Release Date : 2011-09-23
Issues In Monetary And Fiscal Policy In Small Developing States written by Anthony Birchwood and has been published by Commonwealth Secretariat this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-09-23 with Social Science categories.
This study examines how monetary and fiscal policies are implemented in Caribbean small states, tracing the differences and similarities in tax structure, current expenditure and current revenues. It shows the impact of monetary policy on inflation and the importance of exchange rate regimes to the effectiveness of monetary policy in the region. The authors show that fiscal stabilisation in the region is very low and as such countries within the region would benefit from insurance mechanisms and stabilisation funds.
Review Of The Monetary Policy Framework
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Author : Great Britain: H.M. Treasury
language : en
Publisher: The Stationery Office
Release Date : 2013-03-20
Review Of The Monetary Policy Framework written by Great Britain: H.M. Treasury and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-20 with Business & Economics categories.
This paper reviews the performance of the UK's flexible inflation targeting framework against the internationally-accepted monetary policy objective of price stability, a pre-requisite to longer-term growth and macroeconomic stability. Chapters cover the historical and international context, monetary policy frameworks and monetary policy instruments. The paper gives the Monetary Policy Committee's revised remit at Budget 2013. The Government has retained a flexible inflation target framework. The inflation target of 2 per cent, as measured by the 12-month increase in the Consumer Prices Index, is re-affirmed. The remit has been updated to clarify the trade-offs that are involved in setting monetary policy to meet a forward-looking inflation target, and in forming and communicating its judgements the MPC should promote understanding of these trade-offs. The remit continues to require an exchange of open letters between the Governor of the Bank of England and the Chancellor of the Exchequer if inflation moves away from the target by more than 1 percentage point in either direction. The open letter from the Governor should now be sent alongside the minutes of the MPC meeting that followed the publication of the CPI data. The remit requests that the MPC provides in its August 2013 inflation report an assessment of the merits of using intermediate thresholds - policy commitments conditional on future economic developments. The remit also reflects the Government's intention that the frameworks for monetary policy and macro-prudential policy, operated by the MPC and FPC of the Bank of England respectively, should be coordinated.
Monetary Policy Strategy
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Author : Frederic S. Mishkin
language : en
Publisher: MIT Press
Release Date : 2009-08-21
Monetary Policy Strategy written by Frederic S. Mishkin and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-08-21 with Business & Economics categories.
A leading academic authority and policymaker discusses monetary policy strategy from the perspectives of both scholar and practitioner, offering theory, econometric evidence, and extensive case studies. This book by a leading authority on monetary policy offers a unique view of the subject from the perspectives of both scholar and practitioner. Frederic Mishkin is not only an academic expert in the field but also a high-level policymaker. He is especially well positioned to discuss the changes in the conduct of monetary policy in recent years, in particular the turn to inflation targeting. Monetary Policy Strategy describes his work over the last ten years, offering published papers, new introductory material, and a summing up, “Everything You Wanted to Know about Monetary Policy Strategy, But Were Afraid to Ask,” which reflects on what we have learned about monetary policy over the last thirty years. Mishkin blends theory, econometric evidence, and extensive case studies of monetary policy in advanced and emerging market and transition economies. Throughout, his focus is on these key areas: the importance of price stability and a nominal anchor; fiscal and financial preconditions for achieving price stability; central bank independence as an additional precondition; central bank accountability; the rationale for inflation targeting; the optimal inflation target; central bank transparency and communication; and the role of asset prices in monetary policy.
The Global Financial Crisis And The New Monetary Consensus
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Author : Marc Pilkington
language : en
Publisher: Routledge
Release Date : 2013-10-01
The Global Financial Crisis And The New Monetary Consensus written by Marc Pilkington and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10-01 with Business & Economics categories.
The Global Financial Crisis has reshuffled the cards for central banks throughout the world. In the wake of the biggest crisis since the Great Depression, this volume traces the evolution of modern central banking over the last fifty years. It takes in the inflationary chaos of the 1970s and the monetarist experiments of the 1980s, eventually leading to the New Monetary Consensus, which took shape in the 1990s and prevailed until 2007. The book then goes on to review the limitations placed on monetary policy in the aftermath of the global meltdown, arguing that the financial crisis has shaken the new monetary consensus. In the aftermath of the worst crisis since the Great Depression, the book investigates the nature of present and future monetary policy. Is the Taylor rule still a satisfactory monetary precept for central bankers? Has the New Monetary Consensus been shaken by the Global Financial Crisis? What are the fundamental issues raised by the latter cataclysmic chain of events? How should central banks conceptualize monetary policy anew in a post-crisis scenario? Existing books have dwelt extensively on the characteristics of the New Monetary Consensus, but few have cast light on its relevance in a post-crisis scenario. This book seeks to fill this gap, drawing on the lessons from five decades of contrasted theoretical approaches ranging from Keynesianism, monetarism, new classical macroeconomics, inflation targeting and more recently, pragmatic global crisis management.
Money In The Middle East And North Africa
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Author : David Cobham
language : en
Publisher: Routledge
Release Date : 2010-12-07
Money In The Middle East And North Africa written by David Cobham and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-12-07 with Business & Economics categories.
Monetary policy in the Middle East and North African (MENA) countries remains an understudied area; this book fills an important gap by examining monetary policy frameworks and monetary policy strategies in the region. Building on the editors’ earlier book, Monetary Policy and Central Banking in the Middle East and North Africa, which focused on central bank independence issues and on exchange rate regimes, this book emphasises monetary policy strategies. Part I contains an overview of the financial markets and institutions which condition the choice of monetary policy strategy in the countries of the region, followed by single-country studies on aspects of the monetary policy frameworks of Lebanon, Egypt, Jordan, the Palestinian Territory and Turkey. Part II includes analyses of the prospects for inflation targeting in Egypt, Morocco and Tunisia, of the monetary transmission mechanism in the Gulf Cooperation Council countries, of the relative advantages of inflation targeting and exchange rate fixity with reference to Egypt, of the problem of fiscal dominance in Egypt, and of the inflationary implications of exchange rate fixity for Saudi Arabia and Kuwait. The contributors are experts from universities inside and outside the MENA region, from central banks in the region and from outside institutions such as the European Central Bank and the International Monetary Fund.
Monetary Policy Strategies For Latin America
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Author : Frederic S. Mishkin
language : en
Publisher: World Bank Publications
Release Date : 2000
Monetary Policy Strategies For Latin America written by Frederic S. Mishkin and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Anti-inflationary policies categories.
Instead of focusing the debate about the conduct of monetary policy on whether the normal exchange rate should be fixed or flexible, the focus should be on whether the monetary policy regime appropriately constrains discretion in monetary policymaking. Three frameworks deserve serious discussion as possible long-run strategies for monetary policy in Latin America. A hard exchange-rate peg, monetary targeting, and inflation targeting.
Monetary Policy Frameworks In A Global Context
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Author : Lavan Mahadeva
language : en
Publisher: Psychology Press
Release Date : 2000
Monetary Policy Frameworks In A Global Context written by Lavan Mahadeva and has been published by Psychology Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.
Based on data collected through a questionnaire completed by over 70 central banks in industrialized, transitional and developing economies, the analysis shows how the detailed characteristics of a monetary framework depend upon: structural differences; varying degrees of indexation and other nominal rigidities that affect the speed of transmission from monetary policy to inflation; and institutional arrangements and analytical constraints that influence the way in which monetary policy can respond. This comprehensive text with contributions from renowned experts should be of value to professional economists and students of economics and banking alike.