Download or read book Monetary Policy in an Uncertain World written by James A. Dorn and published by Cato Institute. This book was released on 2018-08-07 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ten years after the 2008 financial crisis we are again facing the possibility of economic turmoil as the Fed and other central banks exit their unconventional monetary policies by raising interest rates and shrinking their balance sheets. This book brings together leading scholars and former policymakers to draw lessons from the decade of unconventional monetary policies relied upon to stimulate the global economy in the aftermath of the financial crisis. The articles included in this book combine historical perspectives and forward-looking views of the Fed’s exit strategy and monetary normalization, along with the arguments for a rules-based monetary policy both at the domestic and international levels.
Download or read book Public Policy in an Uncertain World written by Charles F. Manski and published by Harvard University Press. This book was released on 2013-02-14 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: Manski argues that public policy is based on untrustworthy analysis. Failing to account for uncertainty in an uncertain world, policy analysis routinely misleads policy makers with expressions of certitude. Manski critiques the status quo and offers an innovation to improve both how policy research is conducted and how it is used by policy makers.
Download or read book Economic Policy in an Uncertain World written by Adesoji Farayibi and published by . This book was released on 2017 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reiterates that policy choices are implemented in an uncertain world. Uncertainty undermines the accuracy of the outcome of macroeconomic policies and places more demand on policy makers to look for a way of generating the desired results from policy choices. The dynamics in the monetary aggregates magnifies the effect of uncertainty on monetary policies. To manage economic policy successfully in such world therefore, the paper discusses the nature, sources and implications of such uncertainty. It also explains the various techniques and guides to reduce the effect of uncertainty on desirable outcome of macroeconomic policies. Particularly, the paper reviews inflation and monetary targeting with a view to finding how monetary policy choices fare under uncertainty. The paper concludes that policy makers should internalize a stable process into their operational framework of in order to properly reduce the effect on the misbehaviour of macroeconomic variables.
Download or read book Monetary Policy in an Uncertain World written by Charles Richard Bean and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this speech, Charles Bean, Chief Economist and member of the Monetary Policy Committee, reviews and assesses the three types of uncertainty which affect monetary policy makers: uncertainty about the data; uncertainty about the nature and persistence of shocks; and uncertainty about the structure of the economy. Focusing on uncertainty about the structure of the economy, he notes the unusual stability of inflation and output growth in the past decade or so. There are a number of possible explanations, including plain good luck, structural changes in the economy and improved policymaking. Mr Bean goes on to note that the short-run trade-off between inflation and activity seems to have flattened as inflation has stabilised at low levels and he attributes this in part to improved monetary policy making. He goes of this change.
Download or read book Is the Fed Too Thin Monetary Policy in an Uncertain World written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Federal Reserve Bank of San Francisco presents the full text of an article entitled "Is the Fed Too Thin? Monetary Policy in an Uncertain World," by Glenn D. Rudebusch. Estimates of the Taylor rule suggest that monetary policy in the United States can be characterized as having reacted in a moderate fashion to output and inflation gaps. The article discusses an attempt to match the historical policy rule with an optimal policy rule by incorporating uncertainty into the derivation of the optimal rule and by examining plausible variations in the policymaker's model and preferences.
Download or read book Monetary Policy in an Uncertain World written by Paul Levine and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary Policy and Uncertainty written by Res Federal Reserve Bank of Kansas City and published by . This book was released on 2004-07 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most difficult challenges facing central banks is how to conduct monetary policy in an uncertain economic environment. This challenge is magnified when ongoing changes in the structure of the economy make economic models and forecasts less reliable. How should policymakers act in an environment of increased uncertainty? Should they be more cautious and wait for additional information about the economy that might reduce uncertainty? Or, should they react more aggressively in an attempt to keep the economy on course? In designing monetary policy in an uncertain world, how much should policymakers depend on formal rules, and how much should they rely on judgment? To address these questions, the Federal Reserve Bank of Kansas City sponsored a symposium, titled, "Monetary Policy and Uncertainty: Adapting to a Changing Economy," at Jackson Hole, Wyoming, on August 28-30, 2003. The symposium brought together a distinguished group of central bank officials, academic economists, and business economists to discuss and debate these issues. Over the years, the Jackson Hole symposium has provided a forum for the exchange of ideas on important public policy issues of interest to central banks around the world. Its continuing success is due to the contributions of all those who participate, including authors, discussants, panelists, and audience members. Special thanks also go to Craig Hakkio, Gordon Sellon, and other members of the Bank's Research Division who developed this year's program. Thomas M. Hoenig President and Chief Executive Officer Federal Reserve Bank of Kansas City
Download or read book Is the Fed Too Timid written by Glenn D. Rudebusch and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Imperfect Knowledge and Monetary Policy written by Vítor Gaspar and published by Cambridge University Press. This book was released on 2006-02-16 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on lectures given as part of The Stone Lectures in Economics, this book discusses the problem of formulating monetary policy in practice, under the uncertain circumstances which characterize the real world. How should central banks set monetary policy? In which way should they take uncertainty into account when designing a monetary policy strategy? Should they respond to shocks aggressively or cautiously? These questions are discussed both with reference to the experience of the Bundesbank and of the European Central Bank and in relation to a simple stylized economic model.
Download or read book Monetary Policy written by David A. Dodge and published by . This book was released on 2003 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary Policy in an Uncertain Economy written by Martin Stuart Feldstein and published by . This book was released on 2003 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Good Value written by Stephen Green and published by Open Road + Grove/Atlantic. This book was released on 2011-02-08 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: “An unusual and thoughtful disquisition on how to conduct oneself in a world of high finance and ambition.” —The Wall Street Journal A Financial Times Book of the Year Can one be both an ethical person and an effective businessperson? As an ordained priest and former bank chairman, Stephen Green thinks so. In Good Value, Green retraces the history of the global economy and its financial systems, and shows that while the marketplace has delivered huge advantages to humanity, it has also abandoned over a billion people to extreme poverty, encouraged overconsumption and debt, and ravaged the environment. How do we reconcile the demands of capitalism with both the common good and our own spiritual and psychological needs as individuals? To answer that, and some of the most vexing questions of our age, Green takes us on a lively and erudite journey through history, looking for lessons in the work of economists and philosophers, businessmen and poets, theologians and novelists, playwrights and political scientists. An essential business book by a man who is uniquely qualified to write it, Good Value is a timely and persuasive analysis of the most pressing financial and moral questions we face.
Download or read book Monetary Policy in a World of Knowledge based Growth Quality Change and Uncertain Measurement written by Kunio Okina and published by Palgrave Macmillan. This book was released on 2001 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the development of the knowledge economy gathers speed, the structure of the global economy is undergoing drastic changes in the movement from tangible goods to a virtual output. Leading economists contribute their ideas to the debate surrounding policymaking for the knowledge economy.
Download or read book Monetary Policy in an Uncertain Environment written by Martin Feldstein and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the nature of the uncertainty faced by central banks and considers three approaches to dealing with uncertainty(1) formal optimization models and robust rules based on such models; (2) informal rules like the Taylor rule and inflation targeting; and (3) a case by case approach based on an informal Bayesian logic. The latter case requires considering the asymmetric nature of the risks that the central bank often faces
Download or read book Monetary Policy in Our Times written by Nihon Ginkō. Kinʼyū Kenkyūkyoku and published by Cambridge, Mass. : MIT Press. This book was released on 1985 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: The monetary side of domestic and international economic policy has generated increasingly intense debate and concern within and among the major industrial countries over the last several years. Recently, the Bank of Japan's Institute for Monetary and Economic Studies brought together leading academics and prominent economists of central banks and international organizations to analyze and discuss the key problems and issues of monetary policy of developed countries. Collected in this volume are their original contributions: eight essays that cover monetary policy in an uncertain world, domestic and international aspects of monetary policy, and policies to overcome stagflation. In particular, they recognize and provide a lively forum for the different views of academic and central bank economists. The essays are "Monetarism in Rhetoric and in Practice," by Milton Friedman; "Monetary Policy in an Uncertain World," by James Tobin; "The Conduct of Domestic Monetary Policy," by Robert Gorden; "Monetary Policy in Postwar Japan," by K. Hamada and F. Hayashi; "Monetary Policy in the Large Open Economy," by Michael Darby; "Alternative Approaches to Exchange-Rate Determination and Some Implications of the Structural Balance-of-Payments Approach for International Macroeconomic Interdependence," by Akihiro Amano; "'Reaganomics' and Credibility," by Thomas Sargent; and "Coordination of Monetary and Fiscal Policies," by Albert Ando.
Download or read book Currencies After the Crash The Uncertain Future of the Global Paper Based Currency System written by Sara Eisen and published by McGraw Hill Professional. This book was released on 2012-10-26 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the brightest minds in the field—a revealing look at how countries use their currencies to achieve prosperity . . . and the coming repercussions Bloomberg Television's Sara Eisen sheds light on the complex global financial system through this illuminating collection of essays. She hand selected the crème de la crème of authors from the world's most prestigious academic institutions and esteemed professional organizations to share—for the first time in print—their observations and deductions on the topics that matter most to you and your future wealth, including: • THE RELATIONSHIP BETWEEN CURRENCIES AND FINANCIAL CRISES • THE FLAWS WITHIN THE INTERNATIONAL EXCHANGE RATE SYSTEM AND THEIR CONSEQUENCES • HOW EMERGING MARKETS FIT INTO THE CURRENT AND FUTURE EXCHANGE RATE FRAMEWORK • THE IMPACT EXCHANGE RATES HAVE ON FREE TRADE AND ECONOMIC GROWTH • WHAT DEFINES A "SAFE HAVEN" CURRENCY AND ITS ROLE • POTENTIAL SOLUTIONS TO THE CURRENT ECONOMIC PROBLEMS "Today's fiat currency system is based upon trust among market participants, politicians, and central bankers--and that trust is assembled around the reserve currency that enjoys an exorbitant privilege. The reserve status is in doubt in a post financial crisis era but alternatives are lacking. . . . This book is a great guide on how the global currency system is morphing into apotential new standard, but not without the necessary volatility."—Ben Emons, Senior Vice President, Portfolio Manager, PIMCO
Download or read book Monetary Policy in Uncertain Times written by John Carroll Williams and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
