Download Full eBooks in PDF
Open Market Operations As A Policy Tool In The United States Book in PDF, ePub and Kindle version is available to download in english. Read online anytime anywhere directly from your device. Click on the download button below to get a free pdf file of Open Market Operations As A Policy Tool In The United States book. This book definitely worth reading, it is an incredibly well-written.
Author : Ann-Marie Meulendyke
Publisher : Unknown
Page : 14 pages
File Size : 46,6 Mb
Release : 1988
Category : Monetary policy
ISBN : UCSD:31822005099940
Reviews the current monetary goals and tools used in the U.S., advantage of the open market operations ...
Author : Board of Governors of the Federal Reserve System
Publisher : Unknown
Page : 0 pages
File Size : 49,8 Mb
Release : 2002
Category : Banks and Banking
ISBN : 0894991965
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 : Stephen H. Axilrod
Publisher : Oxford University Press
Page : 256 pages
File Size : 50,7 Mb
Release : 2013-04-16
Category : Business & Economics
ISBN : 9780199934492
The Federal Reserve System--the central bank of the United States, better known as The Fed--has never been more controversial. Criticism has reached such levels that Congressman Ron Paul, contender for the Republican presidential nomination in 2012, published End the Fed, with blurbs from musician Arlo Guthrie and actor Vince Vaughn. And yet, amid a slow economy and partisan gridlock, the Fed has never been more important. Stephen H. Axilrod explains this influential agency-its powers, operations, how it sets policy-in The Federal Reserve, a timely addition to Oxford's acclaimed series, What Everyone Needs to Know®. Of the two major governmental tools for shaping the economy, Congress controls fiscal policy-taxation and spending-and the Fed makes monetary policy-influencing how much money circulates in the economy, and how quickly. Traditionally the Fed has relied on three instruments: open-market operations (buying and selling U.S. bonds), lending to banks, and setting reserve requirements on bank deposits. It also helps to regulate the financial system. Drawing on years of experience inside the Federal Reserve System, Axilrod shows how these tools actually work, and answers a series of increasingly detailed questions in the series format. He asks, for instance, if the system of regional Fed banks needs modification for today's technological landscape; if there is corruption in the Fed's governance; what happens to profits from its operations; the impact of political pressure; the extent of Congressional oversight; and just how independent it truly is. Whether discussing the Fed's balance sheet through the financial crisis of 2008 and beyond, the federal funds rate, or the international context, Axilrod displays a mastery of his subject. Coming in time for the Fed's 100th anniversary in 2013, this book deftly explains an institution that every American needs to understand. What Everyone Needs to Know® is a registered trademark of Oxford University Press.
Author : United States
Publisher : Unknown
Page : 102 pages
File Size : 44,9 Mb
Release : 1919
Category : Banking law
ISBN : PRNC:32101055190308
Author : Lawrence J. Gitman,Carl Mcdaniel,Amit Shah
Publisher : Unknown
Page : 0 pages
File Size : 43,6 Mb
Release : 2023-05-19
Category : Electronic
ISBN : 1998109313
Author : Eric Monnet,Miklos Vari
Publisher : International Monetary Fund
Page : 48 pages
File Size : 52,5 Mb
Release : 2019-08-16
Category : Business & Economics
ISBN : 9781498320474
This paper explores what history can tell us about the interactions between macroprudential and monetary policy. Based on numerous historical documents, we show that liquidity ratios similar to the Liquidity Coverage Ratio (LCR) were commonly used as monetary policy tools by central banks between the 1930s and 1980s. We build a model that rationalizes the mechanisms described by contemporary central bankers, in which an increase in the liquidity ratio has contractionary effects, because it reduces the quantity of assets banks can pledge as collateral. This effect, akin to quantity rationing, is more pronounced when excess reserves are scarce.
Author : Great Britain: H.M. Treasury
Publisher : The Stationery Office
Page : 66 pages
File Size : 43,7 Mb
Release : 2013-03-20
Category : Business & Economics
ISBN : 0101858825
This paper reviews the performance of the UK's flexible inflation targeting framework against the internationally-accepted monetary policy objective of price stability, a pre-requisite to longer-term growth and macroeconomic stability. Chapters cover the historical and international context, monetary policy frameworks and monetary policy instruments. The paper gives the Monetary Policy Committee's revised remit at Budget 2013. The Government has retained a flexible inflation target framework. The inflation target of 2 per cent, as measured by the 12-month increase in the Consumer Prices Index, is re-affirmed. The remit has been updated to clarify the trade-offs that are involved in setting monetary policy to meet a forward-looking inflation target, and in forming and communicating its judgements the MPC should promote understanding of these trade-offs. The remit continues to require an exchange of open letters between the Governor of the Bank of England and the Chancellor of the Exchequer if inflation moves away from the target by more than 1 percentage point in either direction. The open letter from the Governor should now be sent alongside the minutes of the MPC meeting that followed the publication of the CPI data. The remit requests that the MPC provides in its August 2013 inflation report an assessment of the merits of using intermediate thresholds - policy commitments conditional on future economic developments. The remit also reflects the Government's intention that the frameworks for monetary policy and macro-prudential policy, operated by the MPC and FPC of the Bank of England respectively, should be coordinated.
Author : Ben Bernanke
Publisher : Princeton University Press
Page : 144 pages
File Size : 44,6 Mb
Release : 2013-02-24
Category : Business & Economics
ISBN : 9780691158730
Collects a series of lectures the chairman of the U.S. Federal Reserve gave in 2012 about the Federal Reserve and the 2008 financial crisis.
Author : Ann-Marie Meulendyke
Publisher : Unknown
Page : 20 pages
File Size : 51,5 Mb
Release : 1988
Category : Monetary policy
ISBN : UOM:39015015457255
Reviews the current monetary goals and tools used in the U.S., advantage of the open market operations ...
Author : Robert L. Hetzel
Publisher : Cambridge University Press
Page : 7 pages
File Size : 53,8 Mb
Release : 2008-03-17
Category : Political Science
ISBN : 9781139470643
Details the evolution of the monetary standard from the start of the Federal Reserve through the end of the Greenspan era. The book places that evolution in the context of the intellectual and political environment of the time. By understanding the fitful process of replacing a gold standard with a paper money standard, the conduct of monetary policy becomes a series of experiments useful for understanding the fundamental issues concerning money and prices. How did the recurrent monetary instability of the 20th century relate to the economic instability and to the associated political and social turbulence? After the detour in policy represented by FOMC chairmen Arthur Burns and G. William Miller, Paul Volcker and Alan Greenspan established the monetary standard originally foreshadowed by William McChesney Martin, who became chairman in 1951. The Monetary Policy of the Federal Reserve explains in a straightforward way the emergence and nature of the modern, inflation-targeting central bank.
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 45 pages
File Size : 44,6 Mb
Release : 2014-06-11
Category : Business & Economics
ISBN : 9781498342629
This note provides guidance to facilitate the staff’s advice on macroprudential policy in Fund surveillance. It elaborates on the principles set out in the “Key Aspects of Macroprudential Policy,” taking into account the work of international standard setters as well as the evolving country experience with macroprudential policy. The main note is accompanied by supplements offering Detailed Guidance on Instruments and Considerations for Low Income Countries
Author : Ulrich Bindseil,Alessio Fotia
Publisher : Springer Nature
Page : 128 pages
File Size : 50,8 Mb
Release : 2021-05-18
Category : Business & Economics
ISBN : 9783030708849
This open access book gives a concise introduction to the practical implementation of monetary policy by modern central banks. It describes the conventional instruments used in advanced economies and the unconventional instruments that have been widely adopted since the financial crisis of 2007–2008. Illuminating the role of central banks in ensuring financial stability and as last resort lenders, it also offers an overview of the international monetary framework. A flow-of-funds framework is used throughout to capture this essential dimension in a consistent and unifying manner, providing a unique and accessible resource on central banking and monetary policy, and its integration with financial stability. Addressed to professionals as well as bachelors and masters students of economics, this book is suitable for a course on economic policy. Useful prerequisites include at least a general idea of the economic institutions of an economy, and knowledge of macroeconomics and monetary economics, but readers need not be familiar with any specific macroeconomic models.
Author : Mr.Simon Gray
Publisher : International Monetary Fund
Page : 57 pages
File Size : 41,6 Mb
Release : 2011-02-01
Category : Business & Economics
ISBN : 9781455217908
Most central banks oblige depository institutions to hold minimum reserves against their liabilities, predominantly in the form of balances at the central bank. The role of these reserve requirements has evolved significantly over time. The overlay of changing purposes and practices has the result that it is not always fully clear what the current purpose of reserve requirements is, and this necessarily complicates thinking about how a reserve regime should be structured. This paper describes three main purposes for reserve requirements - prudential, monetary control and liquidity management - and suggests best practice for the structure of a reserves regime. Finally, the paper illustrates current practices using a 2010 IMF survey of 121 central banks.
Author : Nils Mæhle
Publisher : International Monetary Fund
Page : 57 pages
File Size : 50,8 Mb
Release : 2020-02-07
Category : Business & Economics
ISBN : 9781513526850
This paper discusses operational issues for countries that want to reform their monetary policy frameworks. It argues that stabilizing short-term interest rates on a day-to-day basis has significant advantages, and thus that short-term interest rates, not reserve money, in most cases should be the daily operating target, including for countries relying on a money targeting policy strategy. The paper discusses how a policy formulation framework based on monetary aggregates can be combined with an operational framework that ensures more stable and predictable short-term rates to enhance policy transmission. It also discusses how to best configure an interest-rate-based operational framework when markets are underdeveloped and liqudity management capacity is weak.
Author : Paul Meek
Publisher : Unknown
Page : 60 pages
File Size : 52,9 Mb
Release : 1985
Category : Banks and banking, Central
ISBN : STANFORD:36105028850050
