The International Monetary Fund The European Central Bank And The Federal Reserve And Their Role In The Economic Crisis
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The International Monetary Fund The European Central Bank And The Federal Reserve And Their Role In The Economic Crisis
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Author : Katharina Lurz
language : en
Publisher: GRIN Verlag
Release Date : 2018-07-09
The International Monetary Fund The European Central Bank And The Federal Reserve And Their Role In The Economic Crisis written by Katharina Lurz and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-09 with Political Science categories.
Seminar paper from the year 2015 in the subject Politics - Region: USA, grade: 1,0, University of Bonn, language: English, abstract: This term paper is going to elaborate on the tasks and functions of certain international financial institutions, and subsequently on their role and course of action in the economic crisis. The institutions selected for that end are the International Monetary Fund, the European Central Bank and the Federal Reserve. Interestingly, all of these institutions have different spheres of influence, namely worldwide, Europe and the US, which also responds to the global character of the crisis itself. This suggests a global rescue effort which "transcended national boundaries" (Mihm and Roubini 177). This paper is concerned with the question what significant measures the respective institutions took and whether these actions were consistent with their original mandate and key objectives. For this purpose, each international institution will be examined individually, first according to their function and tasks (in tranquil times), and then with focus on their measures and reactions in the course of the economic crisis.
The Role Of The International Monetary Fund And The Federal Reserve In Stabilizing Europe
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Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Domestic Monetary Policy and Technology
language : en
Publisher:
Release Date : 2010
The Role Of The International Monetary Fund And The Federal Reserve In Stabilizing Europe written by United States. Congress. House. Committee on Financial Services. Subcommittee on Domestic Monetary Policy and Technology and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.
"Today's hearing is a part of our ongoing effort to examine and understand what can cause a global economic crisis and threaten our economic well-being. Today, we will look at the sovereign debt crisis in many nations, particularly in Europe. We will explore the root causes and potential solutions to the European debt crisis with particular focus on the policy responses made by the Federal Reserve and the International Monetary Fund (IMF) to help stabilize European financial markets."--P. 1.
The Federal Reserve S Role In The Global Economy
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Author : Michael D. Bordo
language : en
Publisher: Cambridge University Press
Release Date : 2016-04
The Federal Reserve S Role In The Global Economy written by Michael D. Bordo 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 2016-04 with Business & Economics categories.
Leading academics and senior policy makers provide an international perspective on the changing role of the US Federal Reserve System.
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 Money Masters
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Author : Onno de Beaufort Wijnholds
language : en
Publisher: Springer Nature
Release Date : 2020-07-23
The Money Masters written by Onno de Beaufort Wijnholds and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-07-23 with Business & Economics categories.
Central banks are major players in today’s economic and financial policy-making. While respected for their technical acumen and their pivotal role in defusing the global financial crisis, they are at the same time mistrusted by others and considered to be too powerful. In order to contribute to a better understanding of the why, what and how of central banking, this book traces the progress of central banks from modest beginnings, including financing wars, to the powerful institutions they have become. It describes the evolution of the Bank of England to a fully-fledged central bank, the very different route taken by the Federal Reserve and, much later, by the European Central Bank. The gold standard, floating exchange rates, and the battle against inflation are covered in depth, alongside a review of modern monetary policy and central banks’ role in maintaining financial stability. Throughout the book, the ups and downs of central banks’ relationship vis-a-vis their governments are a recurring theme, even surmising that reigning in the independence of central banks risks inflicting serious damage to economic and financial stability. Uncovering the challenges that the money masters may face in an uncertain future, this book will be of interest to academics, researchers, and practitioners in central banking, finance, and economics at large.
Responsibility Of Central Banks For Stability In Financial Markets
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Author : Mr.Garry J. Schinasi
language : en
Publisher: International Monetary Fund
Release Date : 2003-06-01
Responsibility Of Central Banks For Stability In Financial Markets written by Mr.Garry J. Schinasi 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 2003-06-01 with Business & Economics categories.
What is the role of central banks in ensuring financial stability? This paper addresses this controversial subject, in part by drawing on the experiences in Europe, Japan, and the United States, and by examining four questions. What is meant by financial stability? Do central banks have a natural role in ensuring financial stability? What does a central bank need to execute this role effectively? How far have central banks actually gone in safeguarding financial stability? The experience drawn on in the paper suggest that central banks: have a natural role to play; at times may require supervisory information to execute this natural role; and have incurred risks to their balance sheets to ensure financial stability.
Per Jacobsson Lecture
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2014-04-08
Per Jacobsson Lecture 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 2014-04-08 with Business & Economics categories.
Since the grave disruption of the subprime market at the start of the global financial crisis triggered major turbulences in the functioning of money markets in all large advanced economies, central bankers have experienced extraordinarily demanding and difficult times, characterized by a succession of shocks unseen, in the advanced economies, since World War II. Given the structurally very different economies that central banks were dealing with, one could have expected that the shock of the crisis would have accentuated their differences and given rise to an even more diverse setof central bank policies, conceptual references, and measures in a selfish, inward-looking mode. Instead, however, a phenomenon of “practical and conceptual rapprochement” took place between central banks, amidst the economic and financial turmoil, with the closest central bank cooperation ever, as symbolically illustrated by the coordinated decrease of interest rates in October 2008. The crisis also started or accelerated a multidimensional process of convergence of key elements of monetary policy thinking and policymaking—“conceptual convergence”—that is far from being achieved, but calls for great attention from both academia and policymakers. This Per Jacobsson Lecture concentrates on this convergence process, reflecting as well on some theoretical and practical issues that are associated with unconventional monetary policy liquidity and quantitative measures and the forward guidance generalization, themselves part of the conceptual convergence phenomenon.
Financial Crisis
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Author : James K. Jackson
language : en
Publisher: DIANE Publishing
Release Date : 2010
Financial Crisis written by James K. Jackson and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.
Contents: (1) Overview: Financial Architecture; Economic Performance; (2) The Financial Crisis and the European Union; (3) Phase I ¿ Build-up; (4) Phase II ¿ Liquidity Issues: Central Bank Operations; Interest Rates; Currency Swap Facilities; Depositor Guarantees; (5) Phase III ¿ Solvency and Deleveraging: The ¿European Framework for Action¿; ¿Bad Banks¿; (6) Phase IV ¿ Fiscal Intervention; European Economic Recovery Plan; Germany; France; United Kingdom; (7) Outlook. Charts and tables.
The European Central Bank And The Federal Reserve System A General Comparison
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Author : Cedric Längin
language : en
Publisher: GRIN Verlag
Release Date : 2011-04
The European Central Bank And The Federal Reserve System A General Comparison written by Cedric Längin and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-04 with categories.
Seminar paper from the year 2010 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,0, Cologne University of Applied Sciences, course: Effective Environmental Scanning, language: English, abstract: Since the foundation of the European currency union in 1998, the European Central Bank and the Federal Reserve System represent the most influential two central banks in the world. In this comparison their general structure, tasks and objectives and monetary policy instruments are contrasted. The institutions and bodies of the banks are explained in the second chapter, to see the structural differences. While the ECB defined price stability as its primary objective, the Fed has several equal objectives. These objectives and further tasks of the central banks are described in the third chapter. To steer and implement their objectives and tasks, the central banks have monetary policy instruments at disposal, whereas open market operations and the minimum reserve system play a key role. These instruments are explained in chapter 4 in general and their arrangement and implementation at the example of the ECB. Then the Feds corresponding instruments are contrasted with the ECB, because in my opinion the ECB has a role model position, in this context. Then follows an elaboration of the instruments standing facilities and discount policy. These instruments are examined in two separate subchapters, due to the fact that the implementation of these instruments is only made by the ECB or the Fed. In the last part I examined the reactions of the ECB and the Fed to compensate the risks of the current financial crisis. The attention is directed to the evaluation of the quality and effectiveness of the implemented monetary policy instruments. At the end the results are summarized.
Lessons For Monetary Policy
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Author : Mr. Otmar Issing
language : en
Publisher: International Monetary Fund
Release Date : 2011-04-01
Lessons For Monetary Policy written by Mr. Otmar Issing 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 2011-04-01 with Business & Economics categories.
This paper outlines important lessons for monetary policy. In particular, the role of inflation targeting, which was much acclaimed prior to the financial crisis and since then has not lost much of its endorsement, is critically reviewed. Ignoring the relation between monetary policy and asset prices, as is the case in this monetary policy approach, can lead to financial instability. In contrast, giving, inter alia, monetary factors a role in central banks’ policy decisions, as is done in the ECB’s encompassing approach, helps prevent these potentially harmful side effects and thus allows for fostering financial stability. Finally, this paper makes a case against increasing the central banks’ inflation target.