Download or read book Monetary Policy Rules written by John B. Taylor and published by University of Chicago Press. This book was released on 2007-12-01 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely volume presents the latest thinking on the monetary policy rules and seeks to determine just what types of rules and policy guidelines function best. A unique cooperative research effort that allowed contributors to evaluate different policy rules using their own specific approaches, this collection presents their striking findings on the potential response of interest rates to an array of variables, including alterations in the rates of inflation, unemployment, and exchange. Monetary Policy Rules illustrates that simple policy rules are more robust and more efficient than complex rules with multiple variables. A state-of-the-art appraisal of the fundamental issues facing the Federal Reserve Board and other central banks, Monetary Policy Rules is essential reading for economic analysts and policymakers alike.
Download or read book Monetary Policy Stretched to the Limit written by Ad van Riet and published by . This book was released on 2017 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: New-style central banking in many advanced economies, involving the use of unconventional monetary policy instruments and forward guidance at the effective lower bound for interest rates, has raised questions about the appropriate role of fiscal policy - also in the euro area, where a fiscal counterpart to the European Central Bank (ECB) and the Eurosystem is missing. This paper considers three areas where euro area governments could act as the 'joint sovereign' behind the euro and support the ECB in its task of maintaining price stability, staying within the boundaries of the Maastricht Treaty. First, member countries could coordinate a growth-friendly aggregate economic policy mix that is supportive of the single monetary policy, with the help of a central fiscal capacity subject to common decision-making. Second, they could introduce a safe sovereign asset for the eurozone without assuming common liability in order to anchor financial integration and facilitate monetary policy implementation. Third, the significant benefits for the Eurosystem from a lower burden on monetary policy and a reduced exposure to sovereign risk could make it acceptable for euro area governments to indemnify it against potential large losses on its much expanded balance sheet. The fundamental solution, however, lies in advancing with fiscal integration to address the 'institutional loneliness' of the Eurosystem with full respect for its independent status.
Download or read book A Critique of Monetary Policy written by J. C. R. Dow and published by Clarendon Press. This book was released on 1988-05-05 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is both a theory of monetary policy, and an examination of how it has worked in the UK. It first analyses the behaviour of the banking system, and then the difficulties of central bank control. The authors argue that money creation is an endogenous process, determined partly by the price level, and not the other way round.
Download or read book The American Monetary System written by William H. Wallace and published by Springer Science & Business Media. This book was released on 2014-01-04 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today’s financial system is considerably more complex than in years past, as new financial instruments have been introduced that are not well understood even by the people and institutions that invest in them. Numerous high-risk opportunities are available, and the number of people who unwittingly wander into such ventures seems to grow daily. There is also the realization that people’s lives are affected by the financial system without their overt participation in it. Despite no active participation, pensions can be emasculated by a sudden decline in interest rates, or a rise in rates can increase the monthly payments on a mortgage, credit cards or other debt. This book looks at the history of the American banking system, including the passage of the Federal Reserve Act in 1913, the implementation of deposit insurance, along with certain other provisions of the Glass-Steagall Act of 1933, the Bretton-Woods agreements, the forces of technological innovation and the Dodd-Frank Act, passed by Congress in 2010 for regulatory reform. This book will be of interest to undergraduate and graduate level students that want to gain a broad understanding of how the financial system works, why it is important to the economy as a whole, and what its strengths and weaknesses are. Also, readers should gain an understanding of what the Federal Reserve, other regulators and other central banks are doing, and will be in a position to critique their actions and say with some depth of understanding why they agree or disagree with them.
Download or read book EU Fiscal Policy Coordination in Hard Times written by Charlotte Rommerskirchen and published by Oxford University Press. This book was released on 2019-01-24 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: What happens to European Union (EU) fiscal policy coordination in hard times? Recent accounts of the EU have portrayed the union as plagued by an austerity regime and rampant moral hazard. Charlotte Rommerskirchen provides an alternative account of economic cooperation in Europe during the Great Recession and the European Debt Crisis. Drawing on Mancur Olson's theory of collective action, this volume combines evidence from statistical analysis and extensive interviews with key players. This book reaches an unexpected conclusion regarding the state of collective action in times of crises: Free riding was not rife. Despite heated accusations, member states crisis policies matched their fiscal room for manoeuvre. The real collective action failure is instead diagnosed in the inability to sanction free riders at the EU level and empowering erratic bond markets to discipline governments.
Download or read book Interest and Prices written by Michael Woodford and published by Princeton University Press. This book was released on 2011-12-12 with total page 805 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the collapse of the Bretton Woods system, any pretense of a connection of the world's currencies to any real commodity has been abandoned. Yet since the 1980s, most central banks have abandoned money-growth targets as practical guidelines for monetary policy as well. How then can pure "fiat" currencies be managed so as to create confidence in the stability of national units of account? Interest and Prices seeks to provide theoretical foundations for a rule-based approach to monetary policy suitable for a world of instant communications and ever more efficient financial markets. In such a world, effective monetary policy requires that central banks construct a conscious and articulate account of what they are doing. Michael Woodford reexamines the foundations of monetary economics, and shows how interest-rate policy can be used to achieve an inflation target in the absence of either commodity backing or control of a monetary aggregate. The book further shows how the tools of modern macroeconomic theory can be used to design an optimal inflation-targeting regime--one that balances stabilization goals with the pursuit of price stability in a way that is grounded in an explicit welfare analysis, and that takes account of the "New Classical" critique of traditional policy evaluation exercises. It thus argues that rule-based policymaking need not mean adherence to a rigid framework unrelated to stabilization objectives for the sake of credibility, while at the same time showing the advantages of rule-based over purely discretionary policymaking.
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 European Central Bank between the Financial Crisis and Populisms written by Corrado Macchiarelli and published by Springer Nature. This book was released on 2020-08-25 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: In light of the handover from the European Central Bank President Mario Draghi to Christine Lagarde in November 2019, this book provides an in-depth analysis of the events which unfolded since the euro area sovereign debt crisis in 2010 up until today. The book focuses on the far-reaching implications of the last decade, shedding light on a wide spectrum of political, economic and financial aspects of the European poly-crises and how monetary policy reacted to these challenges. The book places particular emphasis on the tensions that the supranational central bank was subject to during this period, and on their outcomes in terms of the policies, their legitimacy, and their public reception. As such, this book will be relevant not only to understand the political implications of the past crisis but also, and foremost, in understanding "what is next".
Download or read book Monetary Policy in Transition written by M. Nikolic and published by Springer. This book was released on 2006-06-16 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the disastrous economic consequences of pseudo lending for pseudo reforms that occurred when the IMF, as a representative of the West, pretended to aid the transition economy of post-communist Russia through stabilization while the Russian government promised reforms.
Download or read book Recent Changes in Monetary Policy and Balance of payments Problems written by United States. Congress. House. Committee on Banking and Currency and published by . This book was released on 1963 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Recent Changes in Monetary Policy and Balance of payments Problems written by United States Congress. House. Banking and Currency Committee and published by . This book was released on 1963 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Three Trillion Dollar War The True Cost of the Iraq Conflict written by Joseph E. Stiglitz and published by W. W. Norton & Company. This book was released on 2008-08-26 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reveals massive expenses associated with the Iraq War in a cautionary account that evaluates the war's long-term costs, both financial and human, as well as their consequences to taxpayers.
Download or read book Global War on Terrorism GWOT accuracy and reliability of cost estimates hearing written by and published by DIANE Publishing. This book was released on with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Policy Reforms 2011 Going for Growth written by OECD and published by OECD Publishing. This book was released on 2011-04-07 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Going for Growth 2011 highlights the structural reforms needed to restore long-term growth in the wake of the crisis. For each OECD country and, for the first time, six key emerging economies (Brazil, China, India, Indonesia, Russia and South Africa), five reform priorities are identified.
Download or read book A Concise Handbook of the Indian Economy in the 21st Century Second Edition written by Ashima Goyal and published by Oxford University Press. This book was released on 2019-09-06 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: After a phase of slow growth post Independence, the Indian economy has experienced significant changes since the mid-1980s as a result of major reforms. India’s growth story has defied established economic patterns and, in the process, created interesting paradoxes that have attracted global attention. In this new edition of A Concise Handbook of the Indian Economy in the 21st Century, select chapters from the original have been updated to present a brief but comprehensive overview of the Indian economy, contributing to a finer understanding of India’s economic development. The volume adopts a non-ideological and forward-looking approach to discuss important economic issues. It takes into account various social and political factors impacting the Indian economy, and compares the importance of external market factors with that of domestic reforms in India’s economic growth. The book aims to provide a deep understanding of the economy based on careful fact-based research, which is a pre-requisite for formulating pragmatic reforms necessary to achieve sustained and inclusive growth.
Download or read book To Eliminate Unsound Competition for Savings and Time Deposits written by United States Congress. House. Banking and Currency Committee and published by . This book was released on 1966 with total page 860 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book War at Any Cost written by United States. Congress. Joint Economic Committee and published by . This book was released on 2009 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt:
