Download or read book COVID 19 and the Response of Central Banks written by Salewa Olawoye and published by Edward Elgar Publishing. This book was released on 2023-01-20 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: COVID-19 and the Response of Central Banks analyses the reactions of central banks to the COVID-19 crisis in Sub-Saharan Africa. It focuses on how the pandemic has affected the economic performance of Sub-Saharan African countries, many of which were already struggling with growth and sustainability. The first part of the book covers countries within monetary unions such as Cameroon, Congo, Senegal, and Cote d'Ivoire. In the second half, countries with their own independent central banks, The Democratic Republic of Congo, Nigeria, Ghana, and Sierra Leone, are discussed. Chapters highlights the differences between Monetary Union membership and independent Central Banks in policymaking during health crises and explore the role of central banking in minimizing the deleterious effects.
Download or read book Financial Systems Central Banking and Monetary Policy During COVID 19 Pandemic and After written by Çagatay Basarir and published by Rowman & Littlefield. This book was released on 2021-10-11 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book makes an effort in investigating the present and future developments in the financial system, after the COVID-19 Pandemic. The effects of health issues and epidemic diseases influencing the country economies and expected to influence to effect in the future in terms of banking sector especially Central Banking will be discussed. People who take this work will be able to look at events from different windows about money, banking, Central Banks, historical transformation of the banking sector and the relations among the entire financial system and policy makers and also their current issues.
Download or read book Central Banking in a Post Pandemic World written by Mustafa Yağcı and published by Taylor & Francis. This book was released on 2023-08-25 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the urgent need to examine central bank policies in response to the global supply and demand shock brought on by the Covid-19 pandemic, asking whether central banks are doing enough to address inequalities and concerns around climate change and emerging technologies. Adopting an interdisciplinary, critical perspective, the contributors to this volume provide novel theoretical, methodological, and empirical insights on central banks around the world, including in advanced, emerging and developing economies. The chapters in this book explore the evolution of central bank mandates, the policy tools central banks are utilizing, why and how monetary policy takes different shapes (including unconventional monetary policy), the key dynamics influencing central bank policies, how central banks are adapting to the new realities and addressing emerging challenges, and how monetary policy is perceived in the wider economic policy framework. With novel theoretical approaches and diverse empirical evidence from a variety of countries, this book will appeal to readers interested in central banking, monetary policy, the economics of the pandemic and political economy.
Download or read book Central Banking in a Post pandemic World written by Mustafa Yağcı and published by . This book was released on 2023-09 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book addresses the urgent need to examine central bank policies in response to the global supply and demand shock brought on by the Covid-19 pandemic, asking whether central banks are doing enough to address inequalities and concerns around climate change and emerging technologies. Adopting an interdisciplinary, critical perspective, the contributors to this volume provide novel theoretical, methodological, and empirical insights on central banks around the world, including in advanced, emerging and developing economies. The chapters in this book explore the evolution of central bank mandates, the policy tools central banks are utilizing, why and how monetary policy takes different shapes (including unconventional monetary policy), the key dynamics influencing central bank policies, how central banks are adapting to the new realities and addressing emerging challenges, and how monetary policy is perceived in the wider economic policy framework. With novel theoretical approaches and diverse empirical evidence from a variety of countries, this book will appeal to readers interested in central banking, monetary policy, the economics of the pandemic and political economy"--
Download or read book Monetary Policy and COVID 19 written by Michal Brzoza-Brzezina and published by International Monetary Fund. This book was released on 2021-11-12 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the macroeconomic effects of the COVID-19 epidemic in a quantitative dynamic general equilibrium setup with nominal rigidities. We evaluate various containment policies and show that they allow to dramatically reduce the welfare cost of the disease. Then we investigate the role that monetary policy, in its capacity to manage aggregate demand, should play during the epidemic. According to our results, treating the observed output contraction as a standard recession leads to overly expansionary policy. Finally, we check how central banks should resolve the trade-off between stabilizing the economy and containing the epidemic. If no administrative restrictions are in place, the second motive prevails and, despite the deep recession, optimal monetary policy is in fact contractionary. Conversely, if sufficient containment measures are introduced, central bank interventions should be expansionary and help stabilize economic activity.
Download or read book Monetary Policy and Central Banking in the Covid Era written by Bill English and published by . This book was released on 2021 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: "As Covid-19 spread in early 2020, many central banks were still struggling to boost inflation. The abruptness and speed of the economic deterioration, the sharp increase in market volatility, and the blinding uncertainty over the impact of the pandemic motivated a central bank reaction that was unprecedented in terms of size, speed and scope. This book summarises the responses by sixteen central banks from both advanced and emerging economies – with chapters written by senior central bank officials and economists in each of the countries to explain the actions taken. While responses varied across countries, there are several common threads: the size, speed and breadth of the responses; the reliance on a more multidimensional set of tools; and the ability of emerging markets to behave more like advanced economies."--Abstract.
Download or read book Economic Policy and the Covid 19 Crisis written by Bernadette Andreosso-O'Callaghan and published by Routledge. This book was released on 2021-09-28 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers an assessment of the different monetary and fiscal policy responses that have been implemented by national governments in major European and Asian countries faced with the Covid-19 crisis since 2020; it also deals with the case of the US experience as a benchmarking example. The book provides a comprehensive cross-country comparative study on health crisis management at the macroeconomic level. Its focus on monetary and fiscal policies across different countries in Asia, Europe and the USA makes it unique. Divided into three parts following a general introduction that sets the context of the study, the book deals with the case of the USA, EU and European countries as well as with that of key Asian countries. Of specific relevance is the European Union and euro-area contexts that serve as a framework to the different EU national monetary and fiscal policy responses. Each chapter deals with a specific country, including Italy and the UK in Europe and Singapore and South Korea in Asia, and covers the following topics: the extent of the outbreak of the public health crisis and its macroeconomic impact; the comparative examination of fiscal and monetary policy responses to both crises; and an overall assessment of the effectiveness of these policies along with the public health policy to mitigate the economic impact. Given the unprecedented nature of the Covid-19 crisis, anyone eager to know more about its macroeconomic impact and ensuing policies in a comparative framework will be keen to read this book. It will be essential reading to any researcher, policy maker and/or analyst working in the area of public policy and is also a unique contribution to the field of European studies, Asian studies and Comparative Economic Studies.
Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Economic and Financial Impacts of the COVID 19 Crisis Around the World written by Allen N. Berger and published by Elsevier. This book was released on 2023-09-05 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economic and Financial Impacts of the COVID-19 Crisis Around the World: Expect the Unexpected provides an informed, research-based in-depth understanding of the COVID-19 crisis, its impacts on households, nonfinancial firms, banks, and financial market participants, and the effectiveness of the reactions of governments and policymakers in the United States and around the world. It provides reflections and perspectives on the social costs and benefits of various policies undertaken and a toolkit of preventive measures to deal with crises beyond the COVID-19 crisis. Authors Allen N. Berger, Mustafa U. Karakaplan, and Raluca A. Roman apply their expertise to the research and data on the COVID-19 economic crisis as well as draw on their own rich research experience. They take a holistic approach that compares and contrasts this crisis with other economic and financial crises and assesses economic and financial behavior and government policies in the booms before crises and the aftermaths following them, as well as the crises themselves. They do all this with a keen eye on “Expecting the Unexpected future crises, and policies that might anticipate them and provide better outcomes for society. Serves as a compendium of available research and data on COVID-19, policies in response to the pandemic, and its effects on the real economy, banking sector, and financial markets Contextualizes the COVID-19 economic crisis by comparing it to two other global crises from the past: the Crash of 1929 and the Global Financial Crisis of 2007–2009 Helps illustrate how crises that originate in financial markets and in the banking sector differ from each other as well as from the COVID-19 crisis that harmed the real economy first Compares the policies and outcomes of nations to the COVID-19 pandemic and assesses their costs and benefits, with potential implications for prospective future crises
Download or read book A Global Database on Central Banks Monetary Responses to Covid 19 written by Carlos Cantú and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Next Financial Crisis written by Seyong Park and published by . This book was released on 2023-05 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: No one would deny the significance of the central bank's role in the global economy. The COVID-19 pandemic, the Russian invasion of Ukraine and higher-than-anticipated inflation in the major economies of the US and Europe have precipitated a tightening of the global financial circumstance. The slowdown in China amid the Covid-19 crisis and lockdown was more severe than envisaged. The IMF's baseline forecast lowered growth from 6.1% in 2021 to 3.2% in 2022 and lowered the US by 1.4 percentage points in early 2022 due to lower growth, lower household purchasing power and tighter monetary policy. In China, further lockdowns and the deepening real estate crisis resulted in a 1.1 percentage point downward revision to growth, while in Europe, substantially downward revisions were made to reflect the ramifications of the war in Ukraine and tightening monetary policy. Global inflation rates have been revised upward as food and energy prices and supply-demand imbalances persist.The central bank's fundamental task is to implement monetary policy utilization diverse of instruments that affect the amount of money circulating in the economy, the interest rates charged on loans, and the rate of inflation. Inflation can be a pointer that the economy is growing, but it can also be a matter owing to high inflation affects people's savings by dampening investment and lending and eroding the worth of money.For this reason, central banks make zealous efforts to suppress inflation. Central banks are commonly essential institutions focused on retaining price stability, maximizing employment, and supporting national economic growth. Accordingly, since the role of the central bank is unique and operates a core role in the global economy, I have summarized two future missions that will be necessary for the future world economy to retain soundness.First, these days, central banks around the world are having an eye on climate change with great interest. It's crucial impact on the economy and prices--namely inflation--has fueled endeavors to better comprehend climate change. Besides, central bank needs to comprehend the risks posed by climate change to their financial systems as part of their endeavors to keep them safe for their citizens. The second is a central bank digital currency.
Download or read book Macro Financial Stability in the COVID 19 Crisis Some Reflections written by Mr. Tobias Adrian and published by International Monetary Fund. This book was released on 2022-12-16 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial system has shown remarkable resilience during the COVID-19 pandemic, despite a sharp decline in economic activity and the initial financial market upheaval in March 2020. This paper takes stock of the factors that contributed to this resilience, focusing on the role of monetary and financial policies. In response to the pandemic-induced crisis, major central banks acted swiftly and decisively, cutting policy rates, introducing new asset purchase programs, providing liquidity support for the banking system, and creating several emergency facilities to sustain the flow of credit to the real economy. Several emerging market central banks also deployed asset purchase programs for the first time. While the pandemic crisis has underscored the importance of policies in preventing calamitous financial outcomes, it has also brought to the fore some unintended consequences of policy actions—in particular, of providing prolonged monetary policy support and applying regulation to specific segments of the financial system rather than taking a broader approach—that could undermine financial stability in the future.
Download or read book Why is Fiscal Policy Often Procyclical written by Alberto Alesina and published by . This book was released on 2005 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many countries, especially developing ones, follow procyclical fiscal polices, namely spending goes up (taxes go down) in booms and spending goes down (taxes go up) in recessions. We provide an explanation for this suboptimal fiscal policy based upon political distortions and incentives for less-than-benevolent government to appropriate rents. Voters have incentives similar to the "starving the Leviathan" classic argument, and demand more public goods or fewer taxes to prevent governments from appropriating rents when the economy is doing well. We test this argument against more traditional explanations based purely on borrowing constraints, with a reasonable amount of success.
Download or read book COVID 19 and the Structural Crises of Our Time written by Lim Mah-Hui and published by ISEAS-Yusof Ishak Institute. This book was released on 2021-11-22 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: “We live in paradoxical times. Traditionally, the West has led the world in theory and practice. Yet, recent developments, from COVID-19 to the storming of the US Capitol, show how lost the West has become. This loss of direction has deep roots. In their usual thoughtful and incisive fashion, Lim Mah-Hui and Michael Heng Siam-Heng, draw out the deeper origins of our current crises and show us a new way forward. A must-read for anyone who wants to understand our strange times." -- Kishore Mahbubani, founding Dean of the Lee Kuan Yew School of Public Policy, National University of Singapore, is the author of Has China Won? “A powerful and compelling critique of neoliberal globalization and its potentially devastating, but long underestimated, consequences for financial stability, the environment, social equity and democracy. COVID-19 has laid bare these dysfunctions and stresses. But this is not a pessimistic book. The authors argue, correctly, that we may be on the cusp of another Great Transformation. The choices we make today to make markets more resilient, improve social protection, and preserve our freedoms could lay the foundations for a sustainable globalization that works for future generations.” -- Donald Low, Professor of Practice in Public Policy and Director of the Institute for Emerging Market Studies, Hong Kong University of Science and Technology “This fascinating book highlights the interplay between financial and health crises that the COVID-19 pandemic exposed. Financialized capitalism is bad for the planet, bad for human health, and creates more unequal and insecure societies. The authors make a strong and convincing case for re-embedding markets into society and finance into the real economy.” --Jayati Ghosh, Professor of Economics, University of Massachusetts at Amherst, USA “Lim and Heng’s ambitious volume argues that 2020 was the year of the global ‘perfect storm’ of multiple crises, with the COVID-19 pandemic exacerbating financial, economic, socio-political and environmental breakdowns. They extend Karl Polanyi’s original insights to appeal for a sustainable global New Deal. While the reader may not agree with all their theses, the scope of their coverage and ambition will set the stage for debates over the annus horribilis.” -- Jomo K.S., Founder-chair, IDEAS www.network.ideas; former United Nations Assistant Secretary General "This book provides plenty of food for thought for many pondering if the COVID-19 crisis could lead to a major transformation of the global economic system shaped by unfettered market forces and policies of governments in their service."-- Yilmaz Akyuz, former Director, UNCTAD, Geneva
Download or read book The Future of Central Banking written by Robert Pringle and published by . This book was released on 2011-01-01 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is no blueprint for a new model central bank. It is too early for that. Where the political and intellectual mood will settle remains too difficult to gauge. Yet few would disagree with the claim of Olivier Blanchard, the chief economist of the International Monetary Fund (IMF), that events point to a greater role for the state in shaping the economic course. Factors specific to political structures, financial markets and economic circumstances have proven to matter more than we might have thought. And a world in which there is a neat segmentation between the monetary, fiscal and supervisory policy strands between central banks, treasuries and regulators no longer seems possible. So, while there is no framework for a new way to do central banking within these pages, the chapters that follow can - and do - offer much in the way of insight into how the profession can best handle the challenges this much-changed world will present.
Download or read book Economic and fiscal outlook written by Office for Budget Responsibility and published by The Stationery Office. This book was released on 2010-11-29 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Office for Budget Responsibility was established to provide independent and authoritative analysis of the UK's public finances. Part of this role includes producing the official economic and fiscal forecasts. This report sets out forecasts for the period to 2015-16. The report also assesses whether the Government is on course to meet the medium-term fiscal objectives and presents preliminary observations on the long-run sustainability of the public finances. Since the June forecast, the UK economy has recovered more strongly than initially expected. The GDP growth was greater than expected in both the 2nd and 3rd quarters, but that unemployment levels have risen to levels that the June forecast did not anticipate until the middle of 2012. In general the world economy has also grown more strongly. CPI inflation has remained slightly higher than expected in June, whilst public finances have performed as forecast. The interest rates on UK debt are lower than in June. The OBR forecasts that the economy will continue to recover from the recession, but at a slower pace than the recoveries of the 1970s, 1980s and 1990s. The publication is divided into 5 chapters with two annexes.
Download or read book Central Banks Responses to COVID 19 in ASEAN Economies written by Charan Singh and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
