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Author : Charles Albert Eric Goodhart,José Viñals
Publisher : Unknown
Page : 76 pages
File Size : 40,5 Mb
Release : 1994
Category : Banks and banking, Central
ISBN : MINN:31951D01474359K
Author : Stefan Gerlach,Thomas J. Jordan,Centre for Economic Policy Research (Great Britain)
Publisher : Unknown
Page : 29 pages
File Size : 50,6 Mb
Release : 2011
Category : Electronic
ISBN : OCLC:756593637
Author : José Vinals
Publisher : Unknown
Page : 128 pages
File Size : 45,8 Mb
Release : 1994
Category : Electronic
ISBN : OCLC:729936293
Author : Frederic S. Mishkin
Publisher : MIT Press
Page : 561 pages
File Size : 49,6 Mb
Release : 2007
Category : Monetary policy
ISBN : 9780262134828
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
Page : 561 pages
File Size : 43,6 Mb
Release : 2009-08-21
Category : Business & Economics
ISBN : 9780262513371
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 : Board of Governors of the Federal Reserve System
Publisher : Unknown
Page : 0 pages
File Size : 49,5 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 : International Monetary Fund
Publisher : International Monetary Fund
Page : 28 pages
File Size : 50,8 Mb
Release : 1988-10-04
Category : Business & Economics
ISBN : 9781451952575
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 : Great Britain: H.M. Treasury
Publisher : The Stationery Office
Page : 66 pages
File Size : 47,7 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 : Thomas F. Cargill
Publisher : Cambridge University Press
Page : 425 pages
File Size : 54,9 Mb
Release : 2017-10-06
Category : Business & Economics
ISBN : 9781107035676
This is a short, inexpensive textbook that teaches students the fundamentals of money and banking in a clear, narrative form.
Author : Harry R. Yarger
Publisher : DIANE Publishing
Page : 93 pages
File Size : 47,7 Mb
Release : 2006
Category : Military doctrine
ISBN : 9781428916227
Author : John H. Cochrane,John B. Taylor
Publisher : Hoover Press
Page : 237 pages
File Size : 54,5 Mb
Release : 2020-05-01
Category : Business & Economics
ISBN : 9780817923761
As the Federal Reserve System conducts its latest review of the strategies, tools, and communication practices it deploys to pursue its dual-mandate goals of maximum employment and price stability, Strategies for Monetary Policy—drawn from the 2019 Monetary Policy Conference at the Hoover Institution—emerges as an especially timely volume. The book's expert contributors examine key policy issues, offering their perspectives on US monetary policy tools and instruments and the interaction between Fed policies and financial markets. The contributors review central bank inflation-targeting policies, how various monetary strategies actually work in practice, and the use of nominal GDP targeting as a way to get the credit market to work well and fix the friction in that market. In addition, they discuss the effects of the various rules that the Fed considers in setting policy, how the Fed's excessive fine-tuning of the economy and financial markets has added financial market volatility and harmed economic performance, and the key issues that impact achievement of the Fed's 2 percent inflation objective. The volume concludes by exploring potential options for enhancing our policy approach.
Author : Thomas F. Cargill
Publisher : Hoover Press
Page : 260 pages
File Size : 45,6 Mb
Release : 1988
Category : Finance
ISBN : 0817987231
Author : Xiu-bao Yu
Publisher : Springer Nature
Page : 211 pages
File Size : 46,9 Mb
Release : 2021-03-29
Category : Business & Economics
ISBN : 9789813347137
This open access book clarifies confusions of strategy that have existed for nearly 40 years through the core thoughts of three fundamental elements. Unlike the traditional definition of strategy as "a plan to achieve a long-term goal from overall considerations”in a linear view, this book defines strategy from non-linear viewpoint as it is in the real world. The art of a strategy lies not only in the determination of development goals, but also in the identification of development problems and putting forward overall guiding ideology of solving problems. Rich illustrations as well as numerous business and military cases are presented in helping readers to understand the fundamental elements of strategy.The general scope of the book includes introductions to the three fundamental elements of strategy, three-sub decisions of a complete strategic decision, incomplete strategies, relationship between tactic and strategy, three elements of competitive and corporative strategies. There may be biases in company-level, real strategic decision-making which makes a complete strategy not necessarily a perfect one. The book introduces biases and reasons for the biases, helping industrial strategic decision-makers understand the importance of knowing the nature of the company, the industry and its environment. In addition, this book also presents principles and evaluation approaches of strategic decisions, explores the reasons for the excessive definitions of the strategy concept, and discusses directions of future’s research tasks.The book will benefit business managers who are interested in knowing what a complete strategic decision is and how to avoid errors or biases in strategic decision-making. It also benefits students in business schools (especially in MBA/EMBA programs) who are (or will be) on executive positions. Academic researchers may find it is interesting to understand strategy from the view of the three elements. The new view provides a novel insight into strategy and promotes several research directions in the future. The three elements of strategy are also applicable to military strategies and readers who are interested in military and may find its value as well.
Author : William M. Tsutsui
Publisher : Taylor & Francis
Page : 644 pages
File Size : 41,5 Mb
Release : 1999
Category : Business & Economics
ISBN : 0415170133
Author : Kent Matthews,Philip M. Booth
Publisher : John Wiley & Sons
Page : 210 pages
File Size : 49,8 Mb
Release : 2006-02-22
Category : Business & Economics
ISBN : 9780470032817
Since the Bank of England was made independent in 1997, the conduct of monetary policy has been relatively uncontroversial. The debates between Keyneisans, monetarists and supporters of fixed exchange rate mechanisms now appear very distant. Despite the apparent consensus there are many issues related to the conduct of monetary policy that are not yet settled and which will soon come to the fore. Is the current form of independence for the Bank of England appropriate? Should a central bank target inflation or the prices level? How does a central bank deal with asset price deflation? Should more account be taken of monetary aggregates? Should central banks target asset prices? What is the relationship between the money supply and asset price inflation? How should central banks ensure financial stability? The IEA was at the forefront of changing the parameters of the debate surrounding monetary policy in the 1970s and 1980s. This text, brings together some of the leading authors in the field, including the current Governor of the Bank of England, to discuss current issues in monetary policy and the relationship between monetary policy and financial markets. It is appropriate for undergraduates and postgraduates in economics and finance as well as for practitioners in financial markets.