Download or read book Financial Innovation Monetary Aggregates and Monetary Policy in the UK and Germany written by Werner Gaab and published by . This book was released on 1995* with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Innovation Banking and Monetary Aggregates written by A. W. Mullineux and published by Edward Elgar Publishing. This book was released on 1996-01-01 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Innovation, Banking and Monetary Aggregates reviews the impact of financial innovation on the measurement of money and presents the first collection of country studies appraising the usefulness of Divisia indices in deriving monetary aggregates. Monetary aggregates are traditionally formed by simply summing various monetary components such as cash and balances in savings and cheque accounts. The monetary usefulness, or 'moneyness', of these components differs and can change as a result of innovation in banking, monetary transmission and payment services. To gauge the importance of such distortions and the merits of alternative weighted monetary indices, particularly Divisia indices, this volume brings together authoritative empirical studies of countries including the US, the UK, Germany, France, Sweden, Italy and Japan. The authors conclude by showing how Divisia monetary indices act as a useful supplement to traditional monetary aggregates.
Download or read book Monetary Policy and Financial Innovations in Five IndustrialCountries written by Andrew Gamble and published by Springer. This book was released on 2016-07-27 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this present volume is to analyse the response to the developments and the consequences for the conduct of monetary policy in five industrial countries. Also considered is the stability of hitherto established relationships between economic variables on which the reliability of monetary policy measures depends. The volume further covers some of the international aspects involved and the important implications of the emerging dominant and persistent flows of long-term capital across the exchanges.
Download or read book Monetary Policy and Financial Innovations in Five IndustrialCountries written by Stephen F. Frowen and published by Palgrave Macmillan. This book was released on 1992 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this present volume is to analyse the response to the developments and the consequences for the conduct of monetary policy in five industrial countries. Also considered is the stability of hitherto established relationships between economic variables on which the reliability of monetary policy measures depends. The volume further covers some of the international aspects involved and the important implications of the emerging dominant and persistent flows of long-term capital across the exchanges.
Download or read book Cross Border Deposits and Monetary Aggregates in the Transition to EMU written by Mr.Carlo Cottarelli and published by International Monetary Fund. This book was released on 1991-11-01 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the effect of cross-border deposits (CBDs) for the stability of the relation between monetary aggregates and nominal GDP in the five largest EC countries. The analysis is developed in terms of “information content” of alternative money definitions (including or excluding selected subsets of CBDs), derived from a multicountry simultaneous system of money demand equations. We show that in the most recent period traditional money aggregates have lost information value and that they are dominated by alternative money definitions that include CBDs, such as those based on the residency of the holder or on the currency of denomination.
Download or read book Banking and Finance in West Germany RLE Banking Finance written by Hans Hermann Francke and published by Routledge. This book was released on 2013-05-02 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a clear guide to the German financial system. It begins by outlining its historical development, emphasising the growth of close ties between the banking system and industry, and goes on to describe in details the nature of the credit institutions in general and the money and capital markets. The book emphasizes the crucial role played by the autonomy of the Bundesbank and it explains with clear illustrations the instruments available to it to conduct monetary policy. It analyses the type of monetary target adopted by the Bundesbank in the early 1970s and deals with the ‘transferability’ of the West German financial system to other countries. Wherever relevant, parallels and differences between that system and the ones operating in the US and UK are pointed out.
Download or read book Money and Banking written by Philip Arestis and published by Springer. This book was released on 1993-11-09 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: The turbulent 1980s and 1990s have seen important developments in the area of money and banking; these are discussed in this volume, focusing on financial innovations, the EMS and international monetary systems, monetary policy is an interdependent world, liquidity constraints and monetary policy, and monetary problems of developing countries.
Download or read book Strategy and Tactics of Monetary Policy written by Charles Albert Eric Goodhart and published by . This book was released on 1994 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Towards More Effective Monetary Policy written by Iwao Kuroda and published by Springer. This book was released on 1997-04-12 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume contains papers prepared for the Bank of Japan's Seventh International Conference which explore the operational and institutional framework for effective monetary policy implementation against the background of recent developments in economics and central banking practice. Features important contributions from leading figures from academia, central banks, and international institutions. Essential reading for anyone interested in central banking or the conduct of monetary policy.
Download or read book Monetary Theory and Monetary Policy written by S. Frowen and published by Palgrave Macmillan. This book was released on 1993-11-09 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: These conference proceedings bring together 12 new essays on a variety of key issues in the field of domestic and international monetary economics. The papers cover a wide range of topics aimed at meeting some of the challenges likely to arise during the late-20th century and beyond.
Download or read book The ECB s Monetary Analysis Revisited written by Helge Berger and published by International Monetary Fund. This book was released on 2008-07 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary aggregates continue to play an important role in the ECB's policy strategy. This paper revisits the case for money, surveying the ongoing theoretical and empirical debate. The key conclusion is that an exclusive focus on non-monetary factors alone may leave the ECB with an incomplete picture of the economy. However, treating monetary factors as a separate matter is a second-best solution. Instead, a general-equilibrium inspired analytical framework that merges the economic and monetary "pillars" of the ECB's policy strategy appears the most promising way forward. The role played by monetary aggregates in such unified framework may be rather limited. However, an integrated framework would facilitate the presentation of policy decisions by providing a clearer narrative of the relative role of money in the interaction with other economic and financial sector variables, including asset prices, and their impact on consumer prices.
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 FinTech in Sub Saharan African Countries written by Mr.Amadou N Sy and published by International Monetary Fund. This book was released on 2019-02-14 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: FinTech is a major force shaping the structure of the financial industry in sub-Saharan Africa. New technologies are being developed and implemented in sub-Saharan Africa with the potential to change the competitive landscape in the financial industry. While it raises concerns on the emergence of vulnerabilities, FinTech challenges traditional structures and creates efficiency gains by opening up the financial services value chain. Today, FinTech is emerging as a technological enabler in the region, improving financial inclusion and serving as a catalyst for the emergence of innovations in other sectors, such as agriculture and infrastructure.
Download or read book Powering the Digital Economy Opportunities and Risks of Artificial Intelligence in Finance written by El Bachir Boukherouaa and published by International Monetary Fund. This book was released on 2021-10-22 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
Download or read book The Chicago Plan Revisited written by Mr.Jaromir Benes and published by International Monetary Fund. This book was released on 2012-08-01 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) public debt. (4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation. We study these claims by embedding a comprehensive and carefully calibrated model of the banking system in a DSGE model of the U.S. economy. We find support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to zero without posing problems for the conduct of monetary policy.
Download or read book Evolving Monetary Policy Frameworks in Low Income and Other Developing Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-10-23 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.
