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Monetary Economics Banking And Policy
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Book Synopsis Monetary Economics, Banking and Policy by : Penelope Hawkins
Download or read book Monetary Economics, Banking and Policy written by Penelope Hawkins and published by Taylor & Francis. This book was released on 2022-12-19 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited collection seeks to advance thinking on money and the monetary nature of the economy, macroeconomic analysis and economic policy, setting it within the context of current scholarship and global socioeconomic concerns, and the crisis in the economics discipline. A key aim is to highlight the central contribution that Sheila Dow has made to these fields. Bringing together an impressive panel of contributors, this volume explores topics including central bank independence, liquidity preferences, money supply endogeneity, financial regulation, regional finance and public debt. The essays in this first collection of two will be thought-provoking reading for advanced students and scholars of macroeconomics, monetary economics, central banking and heterodox economics. Contributors have a broad range of professional experience at universities, central banks, business, development institutions and policy advisories.
Book Synopsis Banking and Monetary Policy from the Perspective of Austrian Economics by : Annette Godart-van der Kroon
Download or read book Banking and Monetary Policy from the Perspective of Austrian Economics written by Annette Godart-van der Kroon and published by Springer. This book was released on 2018-07-23 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses contemporary banking and monetary policy issues from the perspective of the Austrian School of Economics. Based on the heritage of the Austrian school, leading scholars and practitioners offer a coherent diagnosis and analysis of the factors leading to Europe’s current financial crisis. The first part of the book discusses Ludwig von Mises’s and Friedrich August von Hayek’s ideas on banking and monetary policy from both historical and economic standpoints. It includes contributions on Austrian monetary dynamics and micro-foundational business cycle theory, von Mises’s concepts of liquidity and solvency of fractional-reserve banks, and liberalism of Austrian economics. The second part analyzes the measures taken by the European Central Bank (ECB) in light of the ideas of von Mises and Hayek. It includes contributions on non-neutrality of money, ECB monetary policy, and the future of the ECB. The third and final part presents discussions on monetary reforms, including contributions on Bitcoins, Cryptocurrencies and anti-deflationist Paranoia.
Book Synopsis Monetary Economics in Globalised Financial Markets by : Ansgar Belke
Download or read book Monetary Economics in Globalised Financial Markets written by Ansgar Belke and published by Springer Science & Business Media. This book was released on 2011-06-14 with total page 833 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book integrates the fundamentals of monetary theory, monetary policy theory and financial market theory, providing an accessible introduction to the workings and interactions of globalised financial markets. Includes examples and extensive data analyses.
Book Synopsis Interest and Prices by : Michael Woodford
Download or read book Interest and Prices written by Michael Woodford and published by Princeton University Press. This book was released on 2011-12-12 with total page 805 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the collapse of the Bretton Woods system, any pretense of a connection of the world's currencies to any real commodity has been abandoned. Yet since the 1980s, most central banks have abandoned money-growth targets as practical guidelines for monetary policy as well. How then can pure "fiat" currencies be managed so as to create confidence in the stability of national units of account? Interest and Prices seeks to provide theoretical foundations for a rule-based approach to monetary policy suitable for a world of instant communications and ever more efficient financial markets. In such a world, effective monetary policy requires that central banks construct a conscious and articulate account of what they are doing. Michael Woodford reexamines the foundations of monetary economics, and shows how interest-rate policy can be used to achieve an inflation target in the absence of either commodity backing or control of a monetary aggregate. The book further shows how the tools of modern macroeconomic theory can be used to design an optimal inflation-targeting regime--one that balances stabilization goals with the pursuit of price stability in a way that is grounded in an explicit welfare analysis, and that takes account of the "New Classical" critique of traditional policy evaluation exercises. It thus argues that rule-based policymaking need not mean adherence to a rigid framework unrelated to stabilization objectives for the sake of credibility, while at the same time showing the advantages of rule-based over purely discretionary policymaking.
Book Synopsis Money, Financial Institutions and Macroeconomics by : Avi Cohen
Download or read book Money, Financial Institutions and Macroeconomics written by Avi Cohen and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: Money, Financial Institutions and Macroeconomics presents a comparative and international perspective on the current state of research in monetary theory, and the application of monetary theory to important policy issues. The main emphasis is on views stressing the importance of credit creation in the monetary process, in a tradition which arguably encompasses Wicksell, the later Swedes and the Austrians, through the later Hicks, the circuit school and contemporary post-Keynesians. In addition, however, there are distinguished contributions from economists with a more `mainstream' approach to the issues. The book is subdivided into four main parts: Part I reviews the theory of a monetary and credit economy; Part II explores alternative views on money and credit; Part III deals with monetary policy issues in North America; and Part IV discusses monetary policy issues in Europe. `Taken together, the contributions to this volume certainly bear out Hick's famous adage about the much closer relationship between `monetary theory' and `monetary history' than is the case in other branches of economic thought.'
Book Synopsis Financial Markets, Banking, and Monetary Policy by : Thomas D. Simpson
Download or read book Financial Markets, Banking, and Monetary Policy written by Thomas D. Simpson and published by John Wiley & Sons. This book was released on 2014-08-04 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: An essential resource for understanding complex modern financial markets, monetary policy, and banking systems The international economic environment has evolved to the point that what constitutes money is not always clear-cut, and monetary aggregates are undependable as guides to overall policy. Central banks have had to turn to very different tactics in order to achieve their stated policy goals. In this in-depth resource, Thomas D. Simpson—a former official with the Federal Reserve System—introduces a new approach to both monetary policy and the overall financial system. Financial Markets, Banking, and Monetary Policy highlights the role of each major financial market and institution and shows how they've become a part of the overall financial system. The book also describes the important features of central banks—along with their responsibility for achieving specific macroeconomic objectives—and reveals how they pursue goals for inflation, employment, and the economy. While highlighting the United States system, Simpson's comprehensive view of banking and monetary policy is equally applicable to the financial systems and economies of other developed nations. This reliable resource is solidly grounded in economic principles and on the key term structure of interest rate relationships. Simpson explores how the term structure relationship plays a central role in the conduct of monetary policy and outlines a framework for understanding financial crises and the systemic risk faced by modern economies. The book explains in detail the evolving integration of central banks' various methods for conducting monetary and financial stability policies. Filled with illustrative examples and charts, this resource delves into the interconnection between financial markets and institutions, monetary policy, and performance of the economy. An indispensible resource for both professionals and students of finance and economics, Financial Markets, Banking, and Monetary Policy offers a clear understanding of Simpson's term structure relationship and how it works throughout the financial system.
Book Synopsis Current Issues in Monetary Economics and Policy by : George G. Kaufman
Download or read book Current Issues in Monetary Economics and Policy written by George G. Kaufman and published by . This book was released on 1969 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Policy Operations and the Financial System by : Ulrich Bindseil
Download or read book Monetary Policy Operations and the Financial System written by Ulrich Bindseil and published by OUP Oxford. This book was released on 2014-09-11 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 2007, central banks of industrialized countries have counteracted financial instability, recession, and deflationary risks with unprecedented monetary policy operations. While generally regarded as successful, these measures also led to an exceptional increase in the size of central bank balance sheets. The book first introduces the subject by explaining monetary policy operations in normal times, including the key instruments (open market operations, standing facilities, reserve requirements, and the collateral framework). Second, the book reviews the basic mechanics of financial crises as they have hit economies many times. The book then explains what central banks need to do to when financial markets and banks are impaired to fulfil their monetary policy and financial stability mandates. Besides demonstrating the need for non-conventional monetary policy measures, the book also highlights their dangers, such as moral hazard and increased central bank risk taking. The book draws a number of lessons from the crisis on non-conventional monetary policy operations, assessing what measures have worked well, and how a framework should be designed in future normal times such as to contribute to make financial crises less likely. Central bank monetary policy operations have traditionally been considered as a matter of practice, while the macroeconomic modelling of the transmission mechanism of monetary policy is regarded as a discipline relying on substantial theory ('monetary economics'). However, monetary policy operations can equally benefit from a theory, and from a normative framework to guide policy choices. The limited interest that monetary policy operations have found for many decades in academic economics may well have contributed to the many misunderstandings on central bank actions over recent years. This book provides a basis for a better theoretical understanding of real-world monetary policy operations.
Book Synopsis Monetary Economics by : David G. Pierce
Download or read book Monetary Economics written by David G. Pierce and published by Butterworth-Heinemann. This book was released on 2014-05-20 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary Economics: Theories, Evidence and Policy, Second Edition provides basic introduction to various aspects of monetary economics. The first chapter tackles the functions, advantages, and definitions of money. Chapter 2 deals with the monetary transmission mechanism. Chapter 3 discusses the demand for money, while Chapter 4 talks about the financial intermediaries and the supply of money. The book also covers the classical system and the neutrality of money. The Keynesian system and monetarism are then tackled. The text reviews the empirical evidence relating to the role of money. Other related topics covered are inflation; the balance of payments and the foreign exchange rate; and monetary policy. The book also deals with the techniques of monetary control. The last chapter discusses the U.K. post-WW2 monetary policy. The book will be of great interest to students and professionals involved in the study of monetary economics.
Book Synopsis Monetary Economics, 2nd Edition by : Cauvery R./ Kruparani N./ Nayak, Sudha U.K. & Manimekalai A.
Download or read book Monetary Economics, 2nd Edition written by Cauvery R./ Kruparani N./ Nayak, Sudha U.K. & Manimekalai A. and published by S. Chand Publishing. This book was released on 2003 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: For Undergraduate Students of Economics
Book Synopsis Handbook of Monetary Economics by : Benjamin M. Friedman
Download or read book Handbook of Monetary Economics written by Benjamin M. Friedman and published by Elsevier. This book was released on 2010-12-08 with total page 970 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the goals of monetary policy and how are they transmitted? Top scholars summarize recent evidence on the roles of money in the economy, the effects of information, and the growing importance of nonbank financial institutions. Their investigations lead to questions about standard presumptions about the rationality of asset markets and renewed interest in fiscal-monetary connections. Stopping short of advocating conclusions about the ideal conduct of policy, the authors focus instead on analytical methods and the changing interactions among the ingredients and properties that inform monetary models. The influences between economic performance and monetary policy regimes can be both grand and muted, and this volume clarifies the present state of this continually evolving relationship. - Presents extensive coverage of monetary policy theories with an eye toward questions raised by the recent financial crisis - Explores the ingredients, properties, and implications of models that inform monetary policy - Observes changes in the formulation of monetary policies over the last 25 years
Book Synopsis Monetary Theory and Policy by : Didier Laussel
Download or read book Monetary Theory and Policy written by Didier Laussel and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: Didier LAUSSEL, William MAROIS and Antoine SOUBEYRAN The papers collected in this volume were presented at the "4th International Conference on Monetary Economics and Banking" held in Aix-en-Provence on June 1987 and organized by the C.E.F.I. (Center for International Economics and Finance of the University of Aix-Marseille II) and the GRECO "Monnaie et Financement" of the C.N.R.S. (National Center for Scientific Research). They concern two main topics: monetary theory and monetary policy. In the first one, the contributions provide new insights in some important problems like rational expectations, monetary optimizing models or portfolio choices. In the second one, almost all the texts are devoted to the game-theoretic approach of monetary policy which is a research area mainly developped since about ten years. I. MONETARY THEORY In their well known article on "Recent Developments in Monetary Theory", R. BARRO and S. FISCHER (1976) discussed seven main topics among which "the theory of money demand", "money, inflation and growth", "disequilibrium theory", "rational expectations and the Phillips Curve". Twelve years after, papers of this volume give some new results in these areas or explore new paths of research like a monetary theory of an innovative process of production or the application of the theory of contracts to financial problems.
Book Synopsis Monetary Policy and Public Finance by : Akampurira Abraham
Download or read book Monetary Policy and Public Finance written by Akampurira Abraham and published by GRIN Verlag. This book was released on 2013-05-15 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: Script from the year 2013 in the subject Economics - Monetary theory and policy, grade: A, ( Atlantic International University ) (BUSINESS STUDIES AND ECONOMICS), course: REGIONAL DEVELOPMENT, language: English, abstract: 1.0.Introduction There has been a link between financial development and real growth of economies. Financial development together with growth in banking stimulates entreprenuer action and this transfers resources from the traditional sector to modern sector. This paper is divided into two sections; Section A-Monetary Economics that covers the following topics; Money in the macro economy, Demand for money, Supply for money, Money and Inflation, Central banking and Monetary policy, International Financial Institutions and Policy, Monetary market and the Hansen Hickisian IS-LM curve analysis. Section (B) covers; Public revenue, Tax Burden, Incidence of Taxes, Classification and Choices of Taxes, Public Debt, Public expenditure and Public Budget. Course Objectives: The main objective of the course is to equip learners with analytical skills in understanding the basic concepts of monetary economics in the context of developing countries. It enables students acquire sufficient knowledge of monetary theory and the working of financial institutions that help in carrying out monetary and other macroeconomic policy analysis. The course also equips learners with issues relating to taxation and public expenditure
Book Synopsis Financial Markets and Monetary Policy by : Jeffrey A. Frankel
Download or read book Financial Markets and Monetary Policy written by Jeffrey A. Frankel and published by MIT Press. This book was released on 1995 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this second collection of his writings on financial markets (the first, On Exchange Rates, covered international finance), Jeffrey Frankel turns his attention to domestic markets, with special attention to how national monetary policy is handled. The decade of the 1980s left many central bankers disillusioned with monetarism, so that the question of the optimal nominal anchor remains an open one. In this second collection of his writings on financial markets (the first, On Exchange Rates, covered international finance), Jeffrey Frankel turns his attention to domestic markets, with special attention to how national monetary policy is handled. The fifteen papers are divided into three sections, each introduced by the author. They cover, respectively, optimal portfolio diversification, indicators of expected inflation, and the determination of monetary policy in the face of uncertainty. In the first section, Frankel explores what information the theory of optimal portfolio diversification can give the macroeconomist. In the second section, he considers what economic variables central bankers might use to gauge whether monetary policy is too tight or too loose. And in the final section, he looks at the range of uncertainty over policy effects and how that complicates coordination of macroeconomic policymaking. The book concludes with a sympathetic analysis of nominal GDP targeting.
Book Synopsis Monetary Policy, Inflation, and the Business Cycle by : Jordi Galí
Download or read book Monetary Policy, Inflation, and the Business Cycle written by Jordi Galí and published by Princeton University Press. This book was released on 2015-06-09 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: The classic introduction to the New Keynesian economic model This revised second edition of Monetary Policy, Inflation, and the Business Cycle provides a rigorous graduate-level introduction to the New Keynesian framework and its applications to monetary policy. The New Keynesian framework is the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, the framework provides the theoretical underpinnings for the price stability–oriented strategies adopted by most central banks in the industrialized world. Using a canonical version of the New Keynesian model as a reference, Jordi Galí explores various issues pertaining to monetary policy's design, including optimal monetary policy and the desirability of simple policy rules. He analyzes several extensions of the baseline model, allowing for cost-push shocks, nominal wage rigidities, and open economy factors. In each case, the effects on monetary policy are addressed, with emphasis on the desirability of inflation-targeting policies. New material includes the zero lower bound on nominal interest rates and an analysis of unemployment’s significance for monetary policy. The most up-to-date introduction to the New Keynesian framework available A single benchmark model used throughout New materials and exercises included An ideal resource for graduate students, researchers, and market analysts
Book Synopsis Monetary Policy Rule in Theory and Practice by : Nicolas Barbaroux
Download or read book Monetary Policy Rule in Theory and Practice written by Nicolas Barbaroux and published by Routledge. This book was released on 2013-08-21 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new volume sheds new light on current monetary issues, in particular the debate on monetary policy making, by blending theoretical economic analysis, history of economics, and historical case studies. A discretionary monetary policy refers to cases in which the central bank is free to change its policy actions or key instruments when the need arises, whilst a monetary policy rule can be defined as a commitment from (independent) central banks to reach one or several objective(s) by way of systematic policy actions. This book uses case studies from France and Sweden, and places them in the context of Keynes’ argument from his 1923 ‘Tract on Monetary Reforms’, to support the argument that the use of discretionary practices within a monetary policy rule (such as in the Gold Standard era) is the best approach. This book takes an innovative approach in combining a theoretical analysis (mainly the work of New Neoclassical Synthesis throughout Woodford's model) a history of economic thought analysis (based on the monetary works from Wicksell, Cassel and Keynes) and an historical study of central bank practices both in France (based on Bank of France archives materials) and in Sweden. The final section of the book explores the debate on monetary policy rule in light of the 2008 financial crisis. As such, the book provides a unique synthesis that will be of interest not only to scholars of history of economic thought and economic theory, but also to anyone with an interest in monetary economics and contemporary monetary policy.
Book Synopsis Monetary and Banking History by : Geoffrey Wood
Download or read book Monetary and Banking History written by Geoffrey Wood and published by Taylor & Francis. This book was released on 2011-05-11 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Forrest Capie is an eminent economic historian who has published extensively on a wide range of topics, with an emphasis on banking and monetary history, particularly in the nineteenth and twentieth centuries, but also in other areas such as tariffs and the interwar economy. He is a former editor of the Economic History Review, one of the leading academic journals in this discipline. Under the steely editorship of Geoffrey Wood, this book brings together a stellar line of of contributors - including Charles Goodhart, Harold James, Michael Bordo, Barry Eichengreen, Charles Calomiris, and Anna Schwartz. The book analyzes many of the mainstream themes in economic and financial history - monetary policy, international financial regulation, economic performance, exchange rate systems, international trade, banking and financial markets - where historical perspectives are considered important. The current wave of globalisation has stimulated interest in many of these areas as ‘lessons of history’ are sought. These themes also reflect the breadth of Capie’s work in terms of time periods and topics.
