Strengthening The Monetary Policy Framework In Korea

DOWNLOAD

Download Strengthening The Monetary Policy Framework In Korea PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Strengthening The Monetary Policy Framework In Korea book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page

Strengthening The Monetary Policy Framework In Korea

DOWNLOAD
Author : Kevin Clinton
language : en
Publisher: International Monetary Fund
Release Date : 2019-05-13

Strengthening The Monetary Policy Framework In Korea 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 2019-05-13 with Business & Economics categories.

Adoption of inflation targeting by the Bank of Korea (BOK) in 1998 contributed to low and stable inflation. However, after the global financial crisis (GFC) monetary policy faced more challenging conditions. Inflation slipped below the target range in 2012 and remains below it despite a cut in the target to 2 percent in 2016. Policy also became more complex with the addition of financial stability to the central bank’s mandate. To address these challenges, this paper proposes a two-pronged approach to strengthen the effectiveness with which monetary policy can meet its objectives: first, enhanced communication on how the target will be achieved over the medium-term, building on a forecasting and policy analysis system; and, second, by clarifying the complementary role of macroprudential policy in containing financial stability risks so that monetary policy can focus on the inflation target. Simulation of a macro model calibrated to Korea illustrates how it can be used to provide this greater medium-term focus on achieving the inflation target and strengthen communication.

Strengthening The Monetary Policy Framework In Korea

DOWNLOAD
Author : Kevin Clinton
language : en
Publisher: International Monetary Fund
Release Date : 2019-05-10

Strengthening The Monetary Policy Framework In Korea 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 2019-05-10 with Business & Economics categories.

Adoption of inflation targeting by the Bank of Korea (BOK) in 1998 contributed to low and stable inflation. However, after the global financial crisis (GFC) monetary policy faced more challenging conditions. Inflation slipped below the target range in 2012 and remains below it despite a cut in the target to 2 percent in 2016. Policy also became more complex with the addition of financial stability to the central bank’s mandate. To address these challenges, this paper proposes a two-pronged approach to strengthen the effectiveness with which monetary policy can meet its objectives: first, enhanced communication on how the target will be achieved over the medium-term, building on a forecasting and policy analysis system; and, second, by clarifying the complementary role of macroprudential policy in containing financial stability risks so that monetary policy can focus on the inflation target. Simulation of a macro model calibrated to Korea illustrates how it can be used to provide this greater medium-term focus on achieving the inflation target and strengthen communication.

Confronting South Korea S Next Crisis

DOWNLOAD
Author : Jaejoon Woo
language : en
Publisher: Oxford University Press
Release Date : 2022-05-12

Confronting South Korea S Next Crisis written by Jaejoon Woo 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 2022-05-12 with Business & Economics categories.

South Korea's economic miracle is a well-known story. However, today Korea is confronting a new set of internal and external risks, which may foreshadow the next crisis. The Korean economy has been struggling with the faltering growth momentum and the rise of unprecedented socio-economic problems over recent years well before the pandemic crisis. After abrupt downshifts to markedly slower growth in the early 2000s, economic growth has continued to decelerate. Koreans are grappling with slow income growth, all time-high household debt, high youth unemployment, inequality, and social polarization. Politics is in disarray and is incapable of directing social discourse for the common good. Rapid population aging along with the world's lowest fertility rates stokes fears of Japanification. Simultaneously, disruptive technologies and fast-changing business environment such as the rise of China clash with a range of long-standing structural problems. The contemporary challenges are radically different from those seen in the early stages of industrialization. There are multiple risks that threaten to self-perpetuate low or stagnant growth over the next decade or so, if not an outright financial crisis. Motivated by these latest developments, this book seeks to provide a timely and in-depth analysis of key current issues and foreseeable challenges of the economy, with a provocative reassessment of its future. Based on extensive new empirical works, it examines the underlying causes of the socio-economic problems. In a constructive spirit, it puts in perspective what would constitute critical elements of ideal policy solutions and the direction of the future government's role.

Republic Of Korea

DOWNLOAD
Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2018-02-13

Republic Of Korea written by International Monetary Fund. Asia and Pacific 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 2018-02-13 with Business & Economics categories.

This Selected Issues chapter outlines a strategy to facilitate this and navigate the more challenging monetary environment, involving enhanced communication of policy interest rate intentions and inflation-forecast targeting. The reduction in the inflation target by a percentage point to 2 percent in January 2016 weakened the nominal anchor. Monetary policy can play a role rebuilding the credibility of the anchor more rapidly through the adoption of inflation-forecast targeting. This strengthening of the monetary policy framework involves enhancing communications. An effective, credible monetary policy cannot address all macroeconomic challenges facing Korea. Rather, it can foster robust growth with low inflation, providing a stable and predictable environment that allows other policies to work more effectively. These other policies play a complementary role. Fiscal policy can reinforce the effectiveness of monetary policy, as illustrated by model scenarios. Structural policies can also support monetary policy by, for example, boosting potential growth.

Monetary Policy And Central Banking In Korea

DOWNLOAD
Author : U-sik Mun
language : en
Publisher: Cambridge University Press
Release Date : 2022-02-24

Monetary Policy And Central Banking In Korea written by U-sik Mun and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-02-24 with Business & Economics categories.

Examines the theory and practice of monetary policy in South Korea, and how certain policy tools can help manage financial crises.

Macroprudential Policy Framework

DOWNLOAD
Author : Damodaran Krishnamurti
language : en
Publisher: World Bank Publications
Release Date : 2014-05-14

Macroprudential Policy Framework written by Damodaran Krishnamurti 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 2014-05-14 with Business & Economics categories.

This publication aims to provide policy makers in emerging market and developing economies with inputs to better understand, envision, and implement a macroprudential policy framework. It presents the basic concepts, issues, and challenges, and encourages them to ask the right questions to design an optimal institutional framework,

Better Policies A Framework For Growth And Social Cohesion In Korea

DOWNLOAD
Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2011-06-01

Better Policies A Framework For Growth And Social Cohesion In Korea written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-06-01 with categories.

Drawing on the OECD’s expertise in comparing country experiences and identifying best practices, the Better Policies series tailors the OECD’s policy advice to the specific and timely priorities of member and partner countries, focusing on how governments can make reform happen.

The Korean Economy

DOWNLOAD
Author : Charles Harvie
language : en
Publisher: Edward Elgar Publishing
Release Date : 2004-01-01

The Korean Economy written by Charles Harvie 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 2004-01-01 with Business & Economics categories.

Korea has played, and will increasingly play, an important role in the future development of the South East Asian region, including the expansion of regional economic cooperation and interregional trade. Indeed Korea has been a leading proponent of the idea of ASEAN+3. Clearer understanding of this economy, its major contemporary policy and reform issues and its future, are of particular interest from both regional and global perspectives.

Republic Of Korea

DOWNLOAD
Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2003-03-19

Republic Of Korea 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 2003-03-19 with Business & Economics categories.

This paper presents key finding of the Financial System Stability Assessment for the Republic of Korea, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, Corporate Governance, and Payment Systems. Korea has achieved a high degree of observance of key standards and codes through newly revised laws and competent supervision. However, supervisory independence could be strengthened to improve the ability to provide authoritative guidance and interpretation. Reform of the banking sector has restored profitability and improved its strength and resilience.

Strengthening Social Cohesion In Korea

DOWNLOAD
Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2013-03-14

Strengthening Social Cohesion In Korea written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-14 with categories.

This report suggests policy options, based on the practices and reforms of other countries, in the following four areas: I) Income Distribution and Poverty; II) Tackling the Duality of the Labour Market; III) Early Childcare; and IV) Moving beyond Hospitals to better Care in the Community.