Download or read book Precision of Monetary Control and Volatility of Rates written by Michael G. Hadjimichalakis and published by . This book was released on 1981 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Precision of Monetary Control and Volatility of Rates written by Michael G. Hadjimichalakis and published by . This book was released on 1981 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Regulation Q Phaseout written by Michael G. Hadjimichalakis and published by . This book was released on 1981 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Transparency and Monetary Policy with Imperfect Common Knowledge written by Mr.Mauro Roca and published by International Monetary Fund. This book was released on 2010-04-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is it desirable that central banks be more transparent in the communication of sensible information when agents have diverse private information? In practice, there exists some consensus about the benefits of acting in this way. However, other studies warn that increasing the precision of public information may raise the volatility of some aggregate variables - in particular, the price level - due to the disproportionate influence that it exerts on agents' decisions, and that this, in turn, will have negative effects on welfare. This paper studies the welfare effects of varying levels of transparency in a model of price-setting under monopolistic competition and imperfect common knowledge. Our results indicate that more precise public information never leads to a reduction of welfare in this framework. We find that the beneficial effects of decreased imperfect common knowledge due to a more precise common signal always compensates the potential rise in aggregate volatility. Moreover, we show that, in contrast to what has previously been assumed, the variability of the aggregate price level has no detrimental welfare effects in this model.

Download or read book Three Essays on Monetary Control written by Michael G. Hadjimichalakis and published by . This book was released on 1981 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Improving Money Stock Control written by L.H. Meyer and published by Springer Science & Business Media. This book was released on 2013-11-11 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: On October 30-31,1981, the Center for the Study of American Business and the Federal Reserve Bank of St. Louis cosponsored their sixth annual conference, "Improving Money Stock Control: Problems, Solutions, and Consequences." This book contains the papers and comments delivered at that conference. The Federal Reserve System has moved, over the last decade, toward setting policy in terms of explicit and publicly announced monetary aggre gate targets - specifically, growth ranges for alternative measures of the money supply. This conference, as the title suggests, was wide ranging in its discussions of monetary control. But rather than dealing with the merits of monetary aggregate targeting, its focus was instead on solving the problems associated with, and evaluating the consequences of, im proved monetary control. The initial paper outlines the current operating procedures followed by the Federal Reserve and suggests reforms to improve monetary control. The following three discussion papers in Part I critically examine the Fed's operating procedures. The two papers in Part II discuss the experi ence of other countries with monetary aggregate targeting - the United Kingdom and Switzerland, respectively - and Part III examines the con sequences of improved monetary control.

Download or read book International Convergence of Capital Measurement and Capital Standards written by and published by Lulu.com. This book was released on 2004 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Monetary Policy written by United States. Congress. Joint Economic Committee. Subcommittee on Monetary and Fiscal Policy and published by . This book was released on 1982 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Business Review written by and published by . This book was released on 1992 with total page 492 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book How Well are Fluctuating Exchange Rates Working written by United States. Congress. Joint Economic Committee. Subcommittee on International Economics and published by . This book was released on 1973 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book General Business and Agricultural Conditions in the Twelfth Federal Reserve District written by and published by . This book was released on 1985 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Economic Review written by and published by . This book was released on 1992 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Federal Reserve s First Monetary Policy Report for 1981 written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 1981 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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 Exchange Rate Volatility and Trade Flows Some New Evidence written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-05-19 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL

Download or read book The ECB s Future Monetary Policy Operational Framework Corridor Or Floor written by Mr. Luis Brandão-Marques and published by International Monetary Fund. This book was released on 2024-03-15 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the trade-offs involved in the choice of the ECB’s monetary policy operational framework. As long as the ECB’s supply of reserves remains well in excess of the banks’ demand, the ECB will likely continue to employ a floor system for implementing the target interest rate in money markets. Once the supply of reserves declines and approaches the steep part of the reserves demand function, the ECB will face a choice between a corridor system and some variant of a floor system. There are distinct pros and cons associated with each option. A corridor would be consistent with a smaller ECB balance sheet size, encourage banks to manage their liquidity buffers more tightly, and facilitate greater activity in the interbank market. But it would require relatively more frequent market operations to ensure the money markets rate stays close to the policy rate and could leave the banking system vulnerable to intermittent liquidity shortages that may have financial stability implications and impair monetary transmission. The floor, on the other hand, would allow for more precise control of the overnight rate and a lower risk of liquidity shortages, but it would entail a somewhat larger ECB balance sheet, weaken the incentives for banks to manage their liquidity buffers, and discourage interbank market activity. The analysis of tradeoffs suggests that, on balance, in steady state, a hybrid system that combines the features of the “parsimonious floor” (with a minimal volume of reserves) with a lending facility or frequent short-term full-allotment lending operations priced at or very close to the deposit rate, making it a “zero (or near-zero) corridor”, would be most conducive for achieving the ECB’s monetary policy objective.

Download or read book The Concrete Euro written by Paul Mercier and published by OUP Oxford. This book was released on 2014-10-02 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: The euro area's framework for monetary policy implementation was introduced in 1999. Eleven years on, this volume examines the theoretical and historical underpinnings of the framework, how it has fared in practice, and what challenges it is likely to face in the future. The technology serving the implementation of monetary policy has historically been the exclusive preserve of a narrow group of specialists but the recent global financial crisis brought the issue into the public eye, as the supply of base money exploded while inflation risked turning into deflation. This book addresses all the aspects of monetary policy implementation, with particular emphasis on the European Central Bank and the euro, allowing a more informed assessment of a neglected, but important, aspect of economic life, and a better understanding of the exceptional developments brought about by the financial crisis. Written by the leading money market operators at the European Central Bank who were involved in creating and implementing the framework, and who are still managing monetary policy implementation at the Bank today, this book provides a rare insider account of how the framework has evolved, how it works in practice, and the challenges of monetary policy implementation going forward.