Recent Developments In Monetary Policy Analysis
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Recent Developments In Monetary Policy Analysis
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Author :
language : en
Publisher:
Release Date : 1999
Recent Developments In Monetary Policy Analysis written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Monetary policy categories.
Both academic thinking about monetary economics and the practice of monetary policy have changed dramatically since 1971-1973, when the rational expectations revolution was beginning and the Bretton Woods system was crumbling. The present paper considers whether the various changes that have taken place were influenced primarily by economic theory or by empirical evidence-or by a combination of the two. Monetary economics, like macroeconomics more generally, passed through the rational expectations period into one dominated by real business cycle (RBC) analysis, which denies monetary policy any significant role in the generation or the dampening of cyclical fluctuations in crucial real variables. Recently, however, the analysis of monetary policy by both academic and central bank economists has been increasingly conducted in small quantitative structural models that combine the optimizing aspect of RBC analysis with various assumptions implying real effects of monetary policy actions due to slow adjustment of nominal prices. These models therefore attempt to combine rather strict theoretical discipline with features that permit an enhanced degree of empirical veracity. It is apparent, accordingly, that both theoretical and empirical analysis have been essential in bringing about alterations in monetary policy analysis between 1971-1973 and 1998
Recent Developments In The Analysis Of Monetary Policy Rules
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Author :
language : en
Publisher:
Release Date : 2000
Recent Developments In The Analysis Of Monetary Policy Rules written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with categories.
After a brief review of key developments in the application of monetary theory to policy analysis, the author describes the central aspects of the typical framework used to analyze monetary policy rules. He reviews the methods used to study the effects of policy behavior and provides an example of how two rules (the McCallum rule and the Taylor rule) can be used to investigate recent monetary policy in Japan. His example shows why it may be important for central banks to develop monetary policy procedures based on monetary-aggregate as well as interest-rate instruments.
The New Monetary Policy
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Author : Philip Arestis
language : en
Publisher: Edward Elgar Publishing
Release Date : 2006-01-01
The New Monetary Policy written by Philip Arestis 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 2006-01-01 with Business & Economics categories.
. . . this book provides a useful overview of the challenges facing the IT policy framework, both by pointing to the limitations of the underlying theory and, more importantly, by outlining the importance of a transparent policy framework for anchoring expectations. . . the book should be of interest to all central bankers and students of monetary policy. Colin Rogers, Economic Record Recent developments in macroeconomic and monetary thinking have given a new impetus to the management of the economy. The use of monetary policy by way of manipulating the rate of interest to affect inflation is now well accepted by both academic economists and central bank practitioners. Beginning with an assessment of new thinking in macroeconomics and monetary theory, this book suggests that many countries have adopted the New Consensus Monetary Policy since the early 1990s in an attempt to reduce inflation to low levels. It goes on to illustrate that the explicit control of the money supply, which was fashionable in the 1970s and 1980s in the UK, US, Europe and elsewhere, was abandoned in favour of monetary rules that focus on interest rate manipulation by the central bank. The objective of these rules is to achieve specific, or a range of, inflation targets. Bringing together a distinguished cast of international contributors, this book presents a collection of papers, which discuss the following issues amongst others: the stability of the macroeconomic equilibrium monetary policy divergences in the Euro area stock market prices the US post- new economy bubble the information economy inflation targeting. This useful analysis of New Consensus Monetary Policy will be of great interest to financial economists and international monetary economists, as well as students and scholars of macroeconomics and finance.
Macrofinancial Modeling At Central Banks
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Author : Mr.Scott Roger
language : en
Publisher: International Monetary Fund
Release Date : 2012-01-01
Macrofinancial Modeling At Central Banks written by Mr.Scott Roger 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 2012-01-01 with Business & Economics categories.
This paper surveys dynamic stochastic general equilibrium models with financial frictions in use by central banks and discusses priorities for future development of such models for the purpose of monetary and financial stability analysis. It highlights the need to develop macrofinancial models which allow analysis of the macroeconomic effects of macroprudential policy tools and to evaluate elements of the Basel III reforms as a priority. The paper also reviews the main approaches to introducing financial frictions into general equilibrium models.
New Contributions To Monetary Analysis
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Author : Faruk Ülgen
language : en
Publisher: Routledge
Release Date : 2013-08-21
New Contributions To Monetary Analysis written by Faruk Ülgen and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-08-21 with Business & Economics categories.
This book sheds light on some of the most recent developments in monetary analysis which offer a theoretical framework for a renewed monetary approach and related policy extensions. It points to recent research on what a consistent and broad-scope monetary theory could be based in the twenty-first century. It highlights new interpretations of monetary theory as put forth by some leading economists since the eighteenth century and new developments in the analysis of current monetary issues.
Current Issues In Monetary Economics
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Author : Taradas Bandyopadhyay
language : en
Publisher: Rowman & Littlefield
Release Date : 1990
Current Issues In Monetary Economics written by Taradas Bandyopadhyay and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Business & Economics categories.
This book brings together leading academics and researchers to make a timely contribution to our understanding of the key issues in the fast-developing field of monetary economics. It offers a thoroughly comprehensive and up-to-date treatment of major areas such as money supply and demand, interest rate determination, international transmission of inflation, public debt, stabilization of the economy, the rational expectations hypothesis and the relationship between money and economic development. The book will be essential reading for all undergraduate and graduate students of monetary economics and macroeconomic theory. Contents: Preface; Contributors; Introduction: Taradas Bandyopadhyay and Subrata Ghatak; Money demand and supply, M.J. Artis and M.K. Lewis; Money market operations of the Bank of England and the determination of interest rates, David T. Llewellyn; Real interest rates and the role of expectations, Kajal Lahiri and Mark Zaporowski; Public sector deficits and the money supply, P.M. Jackson; The international transmission of inflation, George Zis; A critique of monetary theories of the balance of payments; nihil ex nihilo, M.H.L. Burstein; A framework for the analysis of two-tier exchange markets with incomplete segmentation, Jagdeep S. Bhandari and Bernard Decaluwe; Rational expectations and monetary policy, Patrick Minford; Monetary policy and credibility, Paul Levine; Disinflation and wage-price controls, David A. Wilton; Monetary growth models: The role of money demand functions, Taradas Bandyopadhyay and Subrata Ghatak; Index.
Macroeconomics
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Author : William Scarth
language : en
Publisher: Edward Elgar Publishing
Release Date : 2014-01-31
Macroeconomics written by William Scarth 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 2014-01-31 with Business & Economics categories.
øThis important textbook offers a comprehensive look into the two main traditions in contemporary macroeconomics _ New Classical and Keynesian _ and examines the work of economists who have drawn on principles from both traditions to form a new, integr
Advances In Monetary Policy And Macroeconomics
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Author : P. Arestis
language : en
Publisher: Springer
Release Date : 2007-02-28
Advances In Monetary Policy And Macroeconomics written by P. Arestis and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-02-28 with Business & Economics categories.
This book deals with the key aspects of developments in monetary economics and macroeconomics, such as the New Consensus Macroeconomics, and further ones such as money, credit and the business cycle. Adding to the analysis are developments that focus on issues for open and spatial macroeconomics.
Advances In Endogenous Money Analysis
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Author : Louis-Philippe Rochon
language : en
Publisher: Edward Elgar Publishing
Release Date : 2017-10-27
Advances In Endogenous Money Analysis written by Louis-Philippe Rochon 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 2017-10-27 with Endogenous growth categories.
The endogenous nature of money is a fact that has been recognized rather late in monetary economics. Today, it is explained most comprehensively by the theory of money in post-Keynesian monetary theory. The expert contributors to this enlightening book revisit long-standing debates on the endogeneity of money from the position of both horizontalists and structuralists, and prescribe new areas of research and debate for post-Keynesian scholars to explore.
The Monetary System
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Author : Jean-François Serval
language : en
Publisher: John Wiley & Sons
Release Date : 2014-12-15
The Monetary System written by Jean-François Serval 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 2014-12-15 with Business & Economics categories.
A groundbreaking work that paves the way for a new, pro-active financial system With The Monetary System, innovative author pairing Jean-Francois Serval and Jean-Pascal Tranie devise a comprehensive economic modeling system that accounts for the unprecedented situation facing international and regional economies by developing a controversial new stance on the operation of money in society. Presenting a classification of financial instruments with a view toward their underlying legal structures, the book sheds new light on the present economic and financial problems of slow growth and rising debts, and proposes possible outcomes for the global economy. The authors have already gained international attention with their novel approach to currency, and now they turn their attention to the social function of money in all its myriad forms. The book provides a way forward in an era of increased life expectancy and other new social patterns and the social role of money provides a framework for understanding intergenerational redistribution—an urgently pressing task in our time. New aggregate financial categories and economic modeling reveal a possible foundation for increased financial stability Companion website includes key mathematical models, accounting standards, and PowerPoint slides Comprehensive theoretical underpinning presents the contemporary model of money as a social contract Insights into the current economic situation make sense of sovereign debt risk in markets around the world With questions and answers at the end of each chapter, The Monetary System will help you form a new conception of the role of money in society. Improved regulation and tax policies are needed to stabilize the global economy, and this book provides the framework for getting there.