Monetary Policy Rules For Financially Vulnerable Economies
Download Monetary Policy Rules For Financially Vulnerable Economies full books in PDF, epub, and Kindle. Read online free Monetary Policy Rules For Financially Vulnerable Economies ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads.
Author |
: Pierre-Richard Agenor |
Publisher |
: MIT Press |
Total Pages |
: 601 |
Release |
: 2020-11-10 |
ISBN-10 |
: 9780262359429 |
ISBN-13 |
: 0262359421 |
Rating |
: 4/5 (29 Downloads) |
Synopsis Monetary Policy and Macroprudential Regulation with Financial Frictions by : Pierre-Richard Agenor
An integrated analysis of how financial frictions can be accounted for in macroeconomic models built to study monetary policy and macroprudential regulation. Since the global financial crisis, there has been a renewed effort to emphasize financial frictions in designing closed- and open-economy macroeconomic models for monetary and macroprudential policy analysis. Drawing on the extensive literature of the past decade as well as his own contributions, in this book Pierre-Richard Age&́nor provides a unified set of theoretical and quantitative macroeconomic models with financial frictions to explore issues that have emerged in the wake of the crisis. These include the need to understand better how the financial system amplifies and propagates shocks originating elsewhere in the economy; how it can itself be a source of aggregate fluctuations; the extent to which central banks should account for financial stability considerations in the conduct of monetary policy; whether national central banks and regulators should coordinate their policies to promote macroeconomic and financial stability; and how much countercyclical macroprudential policies should be coordinated at the international level to mitigate financial spillovers across countries.
Author |
: International Monetary Fund |
Publisher |
: International Monetary Fund |
Total Pages |
: 74 |
Release |
: 2015-10-23 |
ISBN-10 |
: 9781498344067 |
ISBN-13 |
: 1498344062 |
Rating |
: 4/5 (67 Downloads) |
Synopsis Evolving Monetary Policy Frameworks in Low-Income and Other Developing Countries by : International Monetary Fund
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.
Author |
: Mr.Eduardo Morón |
Publisher |
: International Monetary Fund |
Total Pages |
: 37 |
Release |
: 2003-02-01 |
ISBN-10 |
: 9781451845853 |
ISBN-13 |
: 1451845855 |
Rating |
: 4/5 (53 Downloads) |
Synopsis Monetary Policy Rules for Financially Vulnerable Economies by : Mr.Eduardo Morón
One distinguishable characteristic of emerging market economies is that they are not financially robust. These economies are incapable of smoothing out large external shocks, as sudden capital outflows imply large and abrupt swings in the real exchange rate. Using a small open-economy model, this paper examines alternative monetary policy rules for economies with different degrees of liability dollarization. The paper answers the question of how efficient it is to use inflation targeting under high liability dollarization. Our findings suggest that it might be optimal to follow a nonlinear policy rule that defends the real exchange rate in a financially vulnerable economy.
Author |
: Tobias Adrian |
Publisher |
: |
Total Pages |
: 0 |
Release |
: 2020 |
ISBN-10 |
: OCLC:1375396082 |
ISBN-13 |
: |
Rating |
: 4/5 (82 Downloads) |
Synopsis Financial Stability Monitoring by : Tobias Adrian
In a recently released New York Fed staff report, we present a forward-looking monitoring program to identify and track time-varying sources of systemic risk.
Author |
: John B. Taylor |
Publisher |
: University of Chicago Press |
Total Pages |
: 460 |
Release |
: 2007-12-01 |
ISBN-10 |
: 9780226791265 |
ISBN-13 |
: 0226791262 |
Rating |
: 4/5 (65 Downloads) |
Synopsis Monetary Policy Rules by : John B. Taylor
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.
Author |
: Olivier Blanchard |
Publisher |
: MIT Press |
Total Pages |
: 251 |
Release |
: 2014-08-29 |
ISBN-10 |
: 9780262526821 |
ISBN-13 |
: 0262526824 |
Rating |
: 4/5 (21 Downloads) |
Synopsis In the Wake of the Crisis by : Olivier Blanchard
Prominent economists reconsider the fundamentals of economic policy for a post-crisis world. In 2011, the International Monetary Fund invited prominent economists and economic policymakers to consider the brave new world of the post-crisis global economy. The result is a book that captures the state of macroeconomic thinking at a transformational moment. The crisis and the weak recovery that has followed raise fundamental questions concerning macroeconomics and economic policy. These top economists discuss future directions for monetary policy, fiscal policy, financial regulation, capital-account management, growth strategies, the international monetary system, and the economic models that should underpin thinking about critical policy choices. Contributors Olivier Blanchard, Ricardo Caballero, Charles Collyns, Arminio Fraga, Már Guðmundsson, Sri Mulyani Indrawati, Otmar Issing, Olivier Jeanne, Rakesh Mohan, Maurice Obstfeld, José Antonio Ocampo, Guillermo Ortiz, Y. V. Reddy, Dani Rodrik, David Romer, Paul Romer, Andrew Sheng, Hyun Song Shin, Parthasarathi Shome, Robert Solow, Michael Spence, Joseph Stiglitz, Adair Turner
Author |
: Board of Governors of the Federal Reserve System |
Publisher |
: |
Total Pages |
: 0 |
Release |
: 2002 |
ISBN-10 |
: 0894991965 |
ISBN-13 |
: 9780894991967 |
Rating |
: 4/5 (65 Downloads) |
Synopsis The Federal Reserve System Purposes and Functions by : Board of Governors of the Federal Reserve System
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.
Author |
: Mr.Luis Brandao-Marques |
Publisher |
: International Monetary Fund |
Total Pages |
: 54 |
Release |
: 2020-02-21 |
ISBN-10 |
: 9781513529738 |
ISBN-13 |
: 1513529730 |
Rating |
: 4/5 (38 Downloads) |
Synopsis Monetary Policy Transmission in Emerging Markets and Developing Economies by : Mr.Luis Brandao-Marques
Central banks in emerging and developing economies (EMDEs) have been modernizing their monetary policy frameworks, often moving toward inflation targeting (IT). However, questions regarding the strength of monetary policy transmission from interest rates to inflation and output have often stalled progress. We conduct a novel empirical analysis using Jordà’s (2005) approach for 40 EMDEs to shed a light on monetary transmission in these countries. We find that interest rate hikes reduce output growth and inflation, once we explicitly account for the behavior of the exchange rate. Having a modern monetary policy framework—adopting IT and independent and transparent central banks—matters more for monetary transmission than financial development.
Author |
: Mr.Jeremy Clift |
Publisher |
: International Monetary Fund |
Total Pages |
: 24 |
Release |
: 2014-10-06 |
ISBN-10 |
: 9781498346511 |
ISBN-13 |
: 1498346510 |
Rating |
: 4/5 (11 Downloads) |
Synopsis Monetary Policy and Financial Stability by : Mr.Jeremy Clift
The Inaugural Camdessus Central Banking Lecture
Author |
: International Monetary Fund. Monetary and Capital Markets Department |
Publisher |
: International Monetary Fund |
Total Pages |
: 109 |
Release |
: 2019-10-16 |
ISBN-10 |
: 9781498324021 |
ISBN-13 |
: 1498324029 |
Rating |
: 4/5 (21 Downloads) |
Synopsis Global Financial Stability Report, October 2019 by : International Monetary Fund. Monetary and Capital Markets Department
The October 2019 Global Financial Stability Report (GFSR) identifies the current key vulnerabilities in the global financial system as the rise in corporate debt burdens, increasing holdings of riskier and more illiquid assets by institutional investors, and growing reliance on external borrowing by emerging and frontier market economies. The report proposes that policymakers mitigate these risks through stricter supervisory and macroprudential oversight of firms, strengthened oversight and disclosure for institutional investors, and the implementation of prudent sovereign debt management practices and frameworks for emerging and frontier market economies.