Open Market Operations As A Policy Tool In The United States
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Open Market Operations As A Policy Tool In The United States
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Author : Ann-Marie Meulendyke
language : en
Publisher:
Release Date : 1988
Open Market Operations As A Policy Tool In The United States written by Ann-Marie Meulendyke and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Monetary policy categories.
Reviews the current monetary goals and tools used in the U.S., advantage of the open market operations ...
The Federal Reserve System Purposes And Functions
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Author : Board of Governors of the Federal Reserve System
language : en
Publisher:
Release Date : 2002
The Federal Reserve System Purposes And Functions written by Board of Governors of the Federal Reserve System and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Banks and Banking categories.
Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
The Federal Reserve
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Author : Stephen H. Axilrod
language : en
Publisher: Oxford University Press
Release Date : 2013-04-16
The Federal Reserve written by Stephen H. Axilrod 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 2013-04-16 with Business & Economics categories.
The Federal Reserve System--the central bank of the United States, better known as The Fed--has never been more controversial. Criticism has reached such levels that Congressman Ron Paul, contender for the Republican presidential nomination in 2012, published End the Fed, with blurbs from musician Arlo Guthrie and actor Vince Vaughn. And yet, amid a slow economy and partisan gridlock, the Fed has never been more important. Stephen H. Axilrod explains this influential agency-its powers, operations, how it sets policy-in The Federal Reserve, a timely addition to Oxford's acclaimed series, What Everyone Needs to Know®. Of the two major governmental tools for shaping the economy, Congress controls fiscal policy-taxation and spending-and the Fed makes monetary policy-influencing how much money circulates in the economy, and how quickly. Traditionally the Fed has relied on three instruments: open-market operations (buying and selling U.S. bonds), lending to banks, and setting reserve requirements on bank deposits. It also helps to regulate the financial system. Drawing on years of experience inside the Federal Reserve System, Axilrod shows how these tools actually work, and answers a series of increasingly detailed questions in the series format. He asks, for instance, if the system of regional Fed banks needs modification for today's technological landscape; if there is corruption in the Fed's governance; what happens to profits from its operations; the impact of political pressure; the extent of Congressional oversight; and just how independent it truly is. Whether discussing the Fed's balance sheet through the financial crisis of 2008 and beyond, the federal funds rate, or the international context, Axilrod displays a mastery of his subject. Coming in time for the Fed's 100th anniversary in 2013, this book deftly explains an institution that every American needs to understand. What Everyone Needs to Know® is a registered trademark of Oxford University Press.
The Federal Reserve Act Approved December 23 1913 As Amended
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Author : United States
language : en
Publisher:
Release Date : 1919
The Federal Reserve Act Approved December 23 1913 As Amended written by United States and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1919 with Banking law categories.
Liquidity Ratios As Monetary Policy Tools Some Historical Lessons For Macroprudential Policy
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Author : Eric Monnet
language : en
Publisher: International Monetary Fund
Release Date : 2019-08-16
Liquidity Ratios As Monetary Policy Tools Some Historical Lessons For Macroprudential Policy written by Eric Monnet 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 2019-08-16 with Business & Economics categories.
This paper explores what history can tell us about the interactions between macroprudential and monetary policy. Based on numerous historical documents, we show that liquidity ratios similar to the Liquidity Coverage Ratio (LCR) were commonly used as monetary policy tools by central banks between the 1930s and 1980s. We build a model that rationalizes the mechanisms described by contemporary central bankers, in which an increase in the liquidity ratio has contractionary effects, because it reduces the quantity of assets banks can pledge as collateral. This effect, akin to quantity rationing, is more pronounced when excess reserves are scarce.
Introduction To Business
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Author : Lawrence J. Gitman
language : en
Publisher:
Release Date : 2023-05-19
Introduction To Business written by Lawrence J. Gitman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-05-19 with categories.
Introduction To Central Banking
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Author : Ulrich Bindseil
language : en
Publisher: Springer Nature
Release Date : 2021-05-18
Introduction To Central Banking written by Ulrich Bindseil and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-18 with Business & Economics categories.
This open access book gives a concise introduction to the practical implementation of monetary policy by modern central banks. It describes the conventional instruments used in advanced economies and the unconventional instruments that have been widely adopted since the financial crisis of 2007–2008. Illuminating the role of central banks in ensuring financial stability and as last resort lenders, it also offers an overview of the international monetary framework. A flow-of-funds framework is used throughout to capture this essential dimension in a consistent and unifying manner, providing a unique and accessible resource on central banking and monetary policy, and its integration with financial stability. Addressed to professionals as well as bachelors and masters students of economics, this book is suitable for a course on economic policy. Useful prerequisites include at least a general idea of the economic institutions of an economy, and knowledge of macroeconomics and monetary economics, but readers need not be familiar with any specific macroeconomic models.
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 Implementation Operational Issues For Countries With Evolving Monetary Policy Frameworks
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Author : Nils Mæhle
language : en
Publisher: International Monetary Fund
Release Date : 2020-02-07
Monetary Policy Implementation Operational Issues For Countries With Evolving Monetary Policy Frameworks written by Nils Mæhle 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 2020-02-07 with Business & Economics categories.
This paper discusses operational issues for countries that want to reform their monetary policy frameworks. It argues that stabilizing short-term interest rates on a day-to-day basis has significant advantages, and thus that short-term interest rates, not reserve money, in most cases should be the daily operating target, including for countries relying on a money targeting policy strategy. The paper discusses how a policy formulation framework based on monetary aggregates can be combined with an operational framework that ensures more stable and predictable short-term rates to enhance policy transmission. It also discusses how to best configure an interest-rate-based operational framework when markets are underdeveloped and liqudity management capacity is weak.
Japanese Monetary Policy
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Author : Kenneth J. Singleton
language : en
Publisher: University of Chicago Press
Release Date : 2007-12-01
Japanese Monetary Policy written by Kenneth J. Singleton 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 2007-12-01 with Business & Economics categories.
How has the Bank of Japan (BOJ) helped shape Japan's economic growth during the past two decades? This book comprehensively explores the relations between financial market liberalization and BOJ policies and examines the ways in which these policies promoted economic growth in the 1980s. The authors argue that the structure of Japan's financial markets, particularly restrictions on money-market transactions and the key role of commercial banks in financing corporate investments, allowed the BOJ to influence Japan's economic success. The first two chapters provide the most in-depth English-language discussion of the BOJ's operating procedures and policymaker's views about how BOJ actions affect the Japanese business cycle. Chapter three explores the impact of the BOJ's distinctive window guidance policy on corporate investment, while chapter four looks at how monetary policy affects the term structure of interest rates in Japan. The final two chapters examine the overall effect of monetary policy on real aggregate economic activity. This volume will prove invaluable not only to economists interested in the technical operating procedures of the BOJ, but also to those interested in the Japanese economy and in the operation and outcome of monetary reform in general.