Monetary Policy Strategy
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Author |
: Frederic S. Mishkin |
Publisher |
: MIT Press |
Total Pages |
: 561 |
Release |
: 2007 |
ISBN-10 |
: 9780262134828 |
ISBN-13 |
: 0262134829 |
Rating |
: 4/5 (28 Downloads) |
Synopsis Monetary Policy Strategy by : Frederic S. Mishkin
This book by a leading authority on monetary policy offers a unique view of the subject from the perspectives of both scholar and practitioner. Frederic Mishkin is not only an academic expert in the field but also a high-level policymaker. He is especially well positioned to discuss the changes in the conduct of monetary policy in recent years, in particular the turn to inflation targeting. Monetary Policy Strategydescribes his work over the last ten years, offering published papers, new introductory material, and a summing up, "Everything You Wanted to Know about Monetary Policy Strategy, But Were Afraid to Ask," which reflects on what we have learned about monetary policy over the last thirty years. Mishkin blends theory, econometric evidence, and extensive case studies of monetary policy in advanced and emerging market and transition economies. Throughout, his focus is on these key areas: the importance of price stability and a nominal anch fiscal and financial preconditions for achieving price stability; central bank independence as an additional precondition; central bank accountability; the rationale for inflation targeting; the optimal inflation target; central bank transparency and communication; and the role of asset prices in monetary policy.
Author |
: Frederic S. Mishkin |
Publisher |
: MIT Press |
Total Pages |
: 561 |
Release |
: 2009-08-21 |
ISBN-10 |
: 9780262513371 |
ISBN-13 |
: 0262513374 |
Rating |
: 4/5 (71 Downloads) |
Synopsis Monetary Policy Strategy by : Frederic S. Mishkin
A leading academic authority and policymaker discusses monetary policy strategy from the perspectives of both scholar and practitioner, offering theory, econometric evidence, and extensive case studies. This book by a leading authority on monetary policy offers a unique view of the subject from the perspectives of both scholar and practitioner. Frederic Mishkin is not only an academic expert in the field but also a high-level policymaker. He is especially well positioned to discuss the changes in the conduct of monetary policy in recent years, in particular the turn to inflation targeting. Monetary Policy Strategy describes his work over the last ten years, offering published papers, new introductory material, and a summing up, “Everything You Wanted to Know about Monetary Policy Strategy, But Were Afraid to Ask,” which reflects on what we have learned about monetary policy over the last thirty years. Mishkin blends theory, econometric evidence, and extensive case studies of monetary policy in advanced and emerging market and transition economies. Throughout, his focus is on these key areas: the importance of price stability and a nominal anchor; fiscal and financial preconditions for achieving price stability; central bank independence as an additional precondition; central bank accountability; the rationale for inflation targeting; the optimal inflation target; central bank transparency and communication; and the role of asset prices in monetary policy.
Author |
: International Monetary Fund |
Publisher |
: International Monetary Fund |
Total Pages |
: 28 |
Release |
: 1988-10-04 |
ISBN-10 |
: 9781451952575 |
ISBN-13 |
: 1451952570 |
Rating |
: 4/5 (75 Downloads) |
Synopsis Monetary Policy Strategies by : International Monetary Fund
The paper considers the merits of rules and discretion for monetary policy when the structure of the macroeconomic model and the probability distributions of disturbances are not well defined. It is argued that when it is costly to delay policy reactions to seldom-experienced shocks until formal algorithmic learning has been accomplished, and when time consistency problems are significant, a mixed strategy that combines a simple verifiable rule with discretion is attractive. The paper also discusses mechanisms for mitigating credibility problems and emphasizes that arguments against various types of simple rules lose their force under a mixed strategy.
Author |
: John Howland Cochrane |
Publisher |
: |
Total Pages |
: |
Release |
: 2020 |
ISBN-10 |
: 0817923780 |
ISBN-13 |
: 9780817923785 |
Rating |
: 4/5 (80 Downloads) |
Synopsis Strategies for Monetary Policy by : John Howland Cochrane
"As the Federal Reserve reviews its monetary policy strategy, key experts provide an in-depth discussion of the financial tools, debates, and practices that will ensure a sound US economy"--
Author |
: Peter Bofinger |
Publisher |
: Oxford University Press |
Total Pages |
: 477 |
Release |
: 2001-10-04 |
ISBN-10 |
: 9780191664847 |
ISBN-13 |
: 0191664847 |
Rating |
: 4/5 (47 Downloads) |
Synopsis Monetary Policy by : Peter Bofinger
This book provides an in-depth description and analysis of monetary policy in Europe and the United States. Unusually for a volume in the field, it focuses on actual monetary policy—-targets, institutions, strategies, and instruments—-but traditional and contemporary theoretical approaches to monetary policy form the basis for each chapter. Concentrating specifically on the European Central Bank, Monetary Policy offers one of the first comprehensive guides to understanding the targets, strategy, and instruments of the ECB. In the past, many books have presented mere descriptions of the institutional framework without providing a theoretical framework, while others have dealt mainly with theoretical aspects, thus neglecting the policy implications of their analysis. By combining a theoretical with a policy-oriented approach, Peter Bofinger succeeds in closing this gap in the monetary policy literature. As a result, his book will appeal to a broad readership, including investment bankers and other professional investors, central bankers, and scholars working in the field.
Author |
: Massimo Rostagno |
Publisher |
: Oxford University Press |
Total Pages |
: 449 |
Release |
: 2021 |
ISBN-10 |
: 9780192895912 |
ISBN-13 |
: 0192895915 |
Rating |
: 4/5 (12 Downloads) |
Synopsis Monetary Policy in Times of Crisis by : Massimo Rostagno
The first twenty years of the European Central Bank offer a unique insight into how a central bank can navigate macroeconomic insecurity and crisis. This volume examines the structures and decision-making processes behind the complex measures taken by the ECB to tackle some of the toughest economic challenges in the history of modern Europe.
Author |
: Peter J. N. Sinclair |
Publisher |
: Routledge |
Total Pages |
: 402 |
Release |
: 2009-12-16 |
ISBN-10 |
: 9781135179779 |
ISBN-13 |
: 1135179778 |
Rating |
: 4/5 (79 Downloads) |
Synopsis Inflation Expectations by : Peter J. N. Sinclair
Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.
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 |
: Otmar Issing |
Publisher |
: Cambridge University Press |
Total Pages |
: 220 |
Release |
: 2001-07-26 |
ISBN-10 |
: 0521788889 |
ISBN-13 |
: 9780521788885 |
Rating |
: 4/5 (89 Downloads) |
Synopsis Monetary Policy in the Euro Area by : Otmar Issing
A non-technical analysis of the monetary policy strategy, institutions and operational procedures of the Eurosystem, first published in 2001.
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.