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 Recommendations for Central Counterparties written by Group of Ten. Committee on Payment and Settlement Systems and published by . This book was released on 2004 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Enabling Deep Negative Rates to Fight Recessions A Guide written by Ruchir Agarwal and published by International Monetary Fund. This book was released on 2019-04-29 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: The experience of the Great Recession and its aftermath revealed that a lower bound on interest rates can be a serious obstacle for fighting recessions. However, the zero lower bound is not a law of nature; it is a policy choice. The central message of this paper is that with readily available tools a central bank can enable deep negative rates whenever needed—thus maintaining the power of monetary policy in the future to end recessions within a short time. This paper demonstrates that a subset of these tools can have a big effect in enabling deep negative rates with administratively small actions on the part of the central bank. To that end, we (i) survey approaches to enable deep negative rates discussed in the literature and present new approaches; (ii) establish how a subset of these approaches allows enabling negative rates while remaining at a minimum distance from the current paper currency policy and minimizing the political costs; (iii) discuss why standard transmission mechanisms from interest rates to aggregate demand are likely to remain unchanged in deep negative rate territory; and (iv) present communication tools that central banks can use both now and in the event to facilitate broader political acceptance of negative interest rate policy at the onset of the next serious recession.
Download or read book Monetary Policy Implementation written by Ulrich Bindseil and published by OUP Oxford. This book was released on 2004-12-02 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first of its kind, this book is entirely dedicated to the implementation of monetary policy. Monetary policy implementation has gone through tremendous changes over the last twenty years, which have witnessed the quiet end of 'reserve position doctrine' and the return of an explicit focus on short-term interest rates. Enthusiastically supported by Keynes and later by the monetarist school, reserve position doctrine was developed mainly by US central bankers and academics during the early 1920s, and at least in the US became the unchallenged dogma of monetary policy implementation for sixty years. The return of interest rate targeting also corresponds largely to the restoration of central banking principles established in the late 19th century. Providing a simple theory of monetary policy implementation, Bindseil goes on to explain the role of the three main instruments (open market operations, standing facilities, and reserve requirements) and reviews their use in the twentieth century. In closing, he summarizes current views on efficient monetary policy implementation.
Download or read book Monetary Policy Implementation Operational Issues for Countries with Evolving Monetary Policy Frameworks written by Nils Mæhle and published by International Monetary Fund. This book was released on 2020-02-07 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses operational issues for countries that want to reform their monetary policy frameworks. It argues that stabilizing short-term interest rates on a day-to-day basis has significant advantages, and thus that short-term interest rates, not reserve money, in most cases should be the daily operating target, including for countries relying on a money targeting policy strategy. The paper discusses how a policy formulation framework based on monetary aggregates can be combined with an operational framework that ensures more stable and predictable short-term rates to enhance policy transmission. It also discusses how to best configure an interest-rate-based operational framework when markets are underdeveloped and liqudity management capacity is weak.
Download or read book Economic Quarterly written by and published by . This book was released on 2007 with total page 950 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risk Management for Central Bank Foreign Reserves written by European Central Bank and published by . This book was released on 2004 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Federal Reserve Act approved December 23 1913 as Amended written by United States and published by . This book was released on 1920 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary Policy in Interdependent Economies written by Ioanna T. Kokores and published by Springer Nature. This book was released on 2023-10-04 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the challenges faced by central banks in the aftermath of the global financial crisis and the events that followed. It further emphasises the asymmetries in the transmission of monetary policy in the Eurozone economies and among major advanced economies. The book also highlights the advances in the monetary policy debate towards an efficient resource allocation. The author argues that the canonical model of macroeconomic stabilization, which assigns the main burden of stabilization to monetary policy, is outdated primarily because of the absence of financial frictions. Further, she highlights the urgency of pushing risky activities outside the perimeters of regulation in face of rapidly evolving financial markets. The book provides an analytical framework in the context of intense globalisation and increased interdependence across economies, irrespective of the recent re-examining of supply-chains and trade relationships, as well as a policy framework thoroughly amended after the global financial crisis and the crises that followed it. Presenting policy proposals, the book discusses how policymakers must try to develop a set of policies that the public will have confidence in and take into account in forming expectations about future inflation and spending. It will be useful to central banking practitioners, monetary and fiscal policymakers, as well as students and scholars in economics and, in particular, financial economics.
Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Download or read book A Fire Upon The Deep written by Vernor Vinge and published by Tor Science Fiction. This book was released on 2010-04-01 with total page 626 pages. Available in PDF, EPUB and Kindle. Book excerpt: Now with a new introduction for the Tor Essentials line, A Fire Upon the Deep is sure to bring a new generation of SF fans to Vinge's award-winning works. A Hugo Award-winning Novel! “Vinge is one of the best visionary writers of SF today.”-David Brin Thousands of years in the future, humanity is no longer alone in a universe where a mind's potential is determined by its location in space, from superintelligent entities in the Transcend, to the limited minds of the Unthinking Depths, where only simple creatures, and technology, can function. Nobody knows what strange force partitioned space into these "regions of thought," but when the warring Straumli realm use an ancient Transcendent artifact as a weapon, they unwittingly unleash an awesome power that destroys thousands of worlds and enslaves all natural and artificial intelligence. Fleeing this galactic threat, Ravna crash lands on a strange world with a ship-hold full of cryogenically frozen children, the only survivors from a destroyed space-lab. They are taken captive by the Tines, an alien race with a harsh medieval culture, and used as pawns in a ruthless power struggle. Tor books by Vernor Vinge Zones of Thought Series A Fire Upon The Deep A Deepness In The Sky The Children of The Sky Realtime/Bobble Series The Peace War Marooned in Realtime Other Novels The Witling Tatja Grimm's World Rainbows End Collections Collected Stories of Vernor Vinge True Names At the Publisher's request, this title is being sold without Digital Rights Management Software (DRM) applied.
Download or read book The Future of Payment Systems written by Stephen Millard and published by Routledge. This book was released on 2007-09-17 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on wide-ranging contributions from prominent international experts and discussing some of the most pressing issues facing policy makers and practitioners in the field of payment systems today, this volume provides cutting-edge perspectives on the current issues surrounding payment systems and their future.It covers a range of continually im
Download or read book Financial Soundness Indicators written by International Monetary Fund and published by International Monetary Fund. This book was released on 2006-04-04 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Soundness Indicators (FSIs) are measures that indicate the current financial health and soundness of a country's financial institutions, and their corporate and household counterparts. FSIs include both aggregated individual institution data and indicators that are representative of the markets in which the financial institutions operate. FSIs are calculated and disseminated for the purpose of supporting macroprudential analysis--the assessment and surveillance of the strengths and vulnerabilities of financial systems--with a view to strengthening financial stability and limiting the likelihood of financial crises. Financial Soundness Indicators: Compilation Guide is intended to give guidance on the concepts, sources, and compilation and dissemination techniques underlying FSIs; to encourage the use and cross-country comparison of these data; and, thereby, to support national and international surveillance of financial systems.
Download or read book Command Of The Air written by General Giulio Douhet and published by Pickle Partners Publishing. This book was released on 2014-08-15 with total page 620 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the pantheon of air power spokesmen, Giulio Douhet holds center stage. His writings, more often cited than perhaps actually read, appear as excerpts and aphorisms in the writings of numerous other air power spokesmen, advocates-and critics. Though a highly controversial figure, the very controversy that surrounds him offers to us a testimonial of the value and depth of his work, and the need for airmen today to become familiar with his thought. The progressive development of air power to the point where, today, it is more correct to refer to aerospace power has not outdated the notions of Douhet in the slightest In fact, in many ways, the kinds of technological capabilities that we enjoy as a global air power provider attest to the breadth of his vision. Douhet, together with Hugh “Boom” Trenchard of Great Britain and William “Billy” Mitchell of the United States, is justly recognized as one of the three great spokesmen of the early air power era. This reprint is offered in the spirit of continuing the dialogue that Douhet himself so perceptively began with the first edition of this book, published in 1921. Readers may well find much that they disagree with in this book, but also much that is of enduring value. The vital necessity of Douhet’s central vision-that command of the air is all important in modern warfare-has been proven throughout the history of wars in this century, from the fighting over the Somme to the air war over Kuwait and Iraq.
Download or read book Universal Banking in the United States written by Anthony Saunders and published by Oxford University Press. This book was released on 1994-01-06 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1933 and 1956, the United States sharply limited the kinds of securities activities, commercial activities, and insurance activities banks could engage in. The regulations imposed on banks back then remain in place despite profound changes in the economic environment, in the structure of the national and international financial markets, and in technology. In this span of time many industries, especially those confronting global competition, have transformed themselves dramatically in their efforts to survive and prosper. Not so in the American financial services sector, banks have largely remained stuck in an antiquated regulatory structure which has placed the burden of responding to the needs of market-driven structural change on the shoulders of the regulators and the courts in a constant search for loopholes in the law. The purpose of this book is to evaluate the case for and against eliminating the barriers that have so long existed between banking and other types of financial services in the United States. Universal Banking in the United States studies the consequences of bank regulation in the U.S. as it relates to competition in international financial markets. Anthony Saunders and Ingo Walter examine universal banking systems in other countries, especially Germany, Switzerland, and the U.K., and how they work. They then apply the lessons to U.S. banking, paying particular attention to the benchmarks of stability, equity, efficiency, and competitiveness against which the performance of national financial systems should be measured. In the end, the authors propose the outlines of a level playing field on which any number of forms of organization can grow in the financial services sector, in which universal banking is one of the permitted structures, and where regulation is linked to function.
Download or read book The Central Bank and the Financial System written by Charles Albert Eric Goodhart and published by MIT Press. This book was released on 1995 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: As economic advisor to the Bank of England for many years, C. A. E. Goodhart is uniquely positioned to assess the role of the central bank in the modern financial system. This book brings together twenty-one of his previously published articles dealing with the changing functions of central banks over time, recent efforts to maintain price stability, and debates over specific financial regulation proposals in the UK. Although the current day-to-day operations of central banks are subject to continuous comment and frequent criticism, their structural role within the economic system as a whole has generally been accepted without much question, despite several attempts by economists in recent decades to challenge the value of the institution. C. A. E. Goodhart brings his knowledge of both the theoretical arguments and the actual working of central banks to bear in these essays. Part I looks at the general purposes and functions of central banks within the financial system and their evolution over time. Part II concentrates on the current objectives and operations of central banks, and the maintenance of price stability in particular. Part III analyzes the broader issues of financial regulation.
Download or read book Simulation in Computational Finance and Economics Tools and Emerging Applications written by Alexandrova-Kabadjova, Biliana and published by IGI Global. This book was released on 2012-08-31 with total page 459 pages. Available in PDF, EPUB and Kindle. Book excerpt: Simulation has become a tool difficult to substitute in many scientific areas like manufacturing, medicine, telecommunications, games, etc. Finance is one of such areas where simulation is a commonly used tool; for example, we can find Monte Carlo simulation in many financial applications like market risk analysis, portfolio optimization, credit risk related applications, etc. Simulation in Computational Finance and Economics: Tools and Emerging Applications presents a thorough collection of works, covering several rich and highly productive areas of research including Risk Management, Agent-Based Simulation, and Payment Methods and Systems, topics that have found new motivations after the strong recession experienced in the last few years. Despite the fact that simulation is widely accepted as a prominent tool, dealing with a simulation-based project requires specific management abilities of the researchers. Economic researchers will find an excellent reference to introduce them to the computational simulation models. The works presented in this book can be used as an inspiration for economic researchers interested in creating their own computational models in their respective fields.
