Monetary Policies in the Age of Uncertainty

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Publisher : Springer Nature
ISBN 13 : 9811641463
Total Pages : 70 pages
Book Rating : 4.8/5 (116 download)

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Book Synopsis Monetary Policies in the Age of Uncertainty by : Yoichi Matsubayashi

Download or read book Monetary Policies in the Age of Uncertainty written by Yoichi Matsubayashi and published by Springer Nature. This book was released on 2021-08-23 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an interesting review of Japanese monetary policies after the bubble economy. The Bank of Japan was the first central bank in advanced economies to implement the unconventional monetary policies during the period. After the Lehman shock, most advanced economies also carried out similar monetary policies to boost their own economies. The Japanese experience in the 1990s and 2000s no doubt played a key role during the period. Although various aspects of the experiences have been examined, not many books have been published based on intensive discussions between the macro and monetary theorists who have been active in academics and the practitioners who have actually been involved in monetary policy. This small but important book has focused on the Japanese experience. Evaluation of that experience found that three solid pillars are of crucial importance: theory, institution, and experience. Those form the basis of the book, without theory, no policies will be formulated and implemented, and implementation depends crucially on institution. Chapter 1 provides a clear theoretical background for the unconventional monetary policies and inflation targeting. Chapter 2 intensively explores the meaning and desirability of the independence of central banks. Chapter 3 reviews the consequences of the Japanese monetary policies in recent decades in comparison with those in other advanced economies.

Monetary Policy under Uncertainty

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Author :
Publisher : Springer Science & Business Media
ISBN 13 : 365804974X
Total Pages : 221 pages
Book Rating : 4.6/5 (58 download)

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Book Synopsis Monetary Policy under Uncertainty by : Oliver Sauter

Download or read book Monetary Policy under Uncertainty written by Oliver Sauter and published by Springer Science & Business Media. This book was released on 2014-01-31 with total page 221 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oliver Sauter analyzes three aspects of monetary policy under uncertainty. First he shows that the terms risk and uncertainty are often wrongly used as synonyms despite their different meanings. The second aspect is the proper examination and incorporation of uncertainty into a monetary policy framework. The author undertakes systematization with a closer look at each identified form of uncertainty. Thirdly, he focuses on the quantification of uncertainty from two different perspectives, either from a market perspective or from a central bank perspective.

Optimal Monetary Policy Under Uncertainty

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Publisher : Edward Elgar Publishing
ISBN 13 : 1847208649
Total Pages : 341 pages
Book Rating : 4.8/5 (472 download)

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Book Synopsis Optimal Monetary Policy Under Uncertainty by : Richard T. Froyen

Download or read book Optimal Monetary Policy Under Uncertainty written by Richard T. Froyen and published by Edward Elgar Publishing. This book was released on 2008-01-01 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: Froyen and Guender have provided a thorough and careful analysis of optimal monetary policy over most of the range of theoretical models that have been used in modern macroeconomics. By providing a comprehensive and clear comparative framework they will help the student of monetary policy understand why there have been conflicting views of what policy makers should do. Central Banking In Optimal Monetary Policy Under Uncertainty, academicians and economists Richard T. Froyen and Alfred V. Guender have collaborated on presenting an informed and informative survey of optimal monetary policy literature arising during the 1970s and 1980s as a ground work for understanding current market and other economic influences on such germane issues as discretion versus commitment, target versus instrument rules, and the delegation of policy making authority within the private and public sectors. With meticulous attention to scholarship and objectivity. . . Optimal Monetary Policy Under Uncertainty is a thoughtful and thought-provoking body of work that is very strongly recommended for professional, academic, corporate and governmental economic reference collections and supplemental reading lists. Midwest Book Review Recently there has been a resurgence of interest in the study of optimal monetary policy under uncertainty. This book provides a thorough survey of the literature that has resulted from this renewed interest. The authors ground recent contributions on the science of monetary policy in the literature of the 1970s, which viewed optimal monetary policy as primarily a question of the best use of information, and studies in the 1980s that gave primacy to time inconsistency problems. This broad focus leads to a better understanding of current issues such as discretion versus commitment, target versus instrument rules, and the merits of delegation of policy authority. Casting a wide net, the authors survey the recent literature on the New Keynesian approach to optimal monetary policy in the context of the earlier literature. They emphasize the relationship between policy decisions and the information set available to the policymaker, a central focus of the earlier literature, obscured in much recent work. Optimal policy questions are considered in open as well as closed economy models and the often confusing terminology in the literature is sorted and clarified. Questions are considered within easily analysed models and the authors clearly show why these models lead to different (or equivalent) policy conclusions. Recent policy issues such as desirability of inflation targeting and the relative merits of target versus instrument rules are covered in detail. Economists in academia and in policymaking organizations who want to learn about recent developments in the area of optimal monetary policy, as well as graduate and advanced undergraduate students in macroeconomic and monetary economics, will find this volume a clear and thorough examination of the topic.

Monetary policy and uncertainty

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Publisher :
ISBN 13 :
Total Pages : 415 pages
Book Rating : 4.:/5 (454 download)

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Book Synopsis Monetary policy and uncertainty by :

Download or read book Monetary policy and uncertainty written by and published by . This book was released on 2003 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Monetary Policy and Uncertainty

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Publisher :
ISBN 13 : 9781410214973
Total Pages : 448 pages
Book Rating : 4.2/5 (149 download)

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Book Synopsis Monetary Policy and Uncertainty by : Res Federal Reserve Bank of Kansas City

Download or read book Monetary Policy and Uncertainty written by Res Federal Reserve Bank of Kansas City and published by . This book was released on 2004-07 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most difficult challenges facing central banks is how to conduct monetary policy in an uncertain economic environment. This challenge is magnified when ongoing changes in the structure of the economy make economic models and forecasts less reliable. How should policymakers act in an environment of increased uncertainty? Should they be more cautious and wait for additional information about the economy that might reduce uncertainty? Or, should they react more aggressively in an attempt to keep the economy on course? In designing monetary policy in an uncertain world, how much should policymakers depend on formal rules, and how much should they rely on judgment? To address these questions, the Federal Reserve Bank of Kansas City sponsored a symposium, titled, "Monetary Policy and Uncertainty: Adapting to a Changing Economy," at Jackson Hole, Wyoming, on August 28-30, 2003. The symposium brought together a distinguished group of central bank officials, academic economists, and business economists to discuss and debate these issues. Over the years, the Jackson Hole symposium has provided a forum for the exchange of ideas on important public policy issues of interest to central banks around the world. Its continuing success is due to the contributions of all those who participate, including authors, discussants, panelists, and audience members. Special thanks also go to Craig Hakkio, Gordon Sellon, and other members of the Bank's Research Division who developed this year's program. Thomas M. Hoenig President and Chief Executive Officer Federal Reserve Bank of Kansas City

Money, Information and Uncertainty

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Publisher :
ISBN 13 :
Total Pages : 520 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Money, Information and Uncertainty by : Charles Albert Eric Goodhart

Download or read book Money, Information and Uncertainty written by Charles Albert Eric Goodhart and published by . This book was released on 1989 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a completely revised edition of the well-known monetary textbook. The book discusses the latest analytical developments in monetary economic theory in a comprehensible and practical policy- orientated form for graduates and undergraduates specialising in monetary economics. The book provides a comprehensive survey of monetary economics, with the first nine chapters primarily concerned with micro issues, such as the role of, and demand for, money, the role and functions of banks and of the Central Bank; and the final nine chapters covering macro-economic issues, such as the transmission mechanism of monetary policy and international monetary problems.

Monetary Policy with Model Uncertainty

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Publisher :
ISBN 13 :
Total Pages : 49 pages
Book Rating : 4.:/5 (165 download)

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Book Synopsis Monetary Policy with Model Uncertainty by : Lars E. O. Svensson

Download or read book Monetary Policy with Model Uncertainty written by Lars E. O. Svensson and published by . This book was released on 2007 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Information and Uncertainty in the Theory of Monetary Policy

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Publisher :
ISBN 13 :
Total Pages : 92 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Information and Uncertainty in the Theory of Monetary Policy by : Helmut Wagner

Download or read book Information and Uncertainty in the Theory of Monetary Policy written by Helmut Wagner and published by . This book was released on 2007 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Next Age of Uncertainty

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Publisher : Penguin
ISBN 13 : 0735243921
Total Pages : 321 pages
Book Rating : 4.7/5 (352 download)

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Book Synopsis The Next Age of Uncertainty by : Stephen Poloz

Download or read book The Next Age of Uncertainty written by Stephen Poloz and published by Penguin. This book was released on 2024-02-27 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: SHORTLISTED FOR THE 2022 SHAUGHNESSY COHEN PRIZE FOR POLITICAL WRITING • SHORTLISTED FOR THE 2022 DONNER PRIZE “The Next Age of Uncertainty combines invaluable historical insights with provocative reflections on the economy of the future—a must read.” —Thomas d’Aquino C.M., LL.D., founding CEO of the Business Council of Canada, and author of Private Power Public Purpose From the former Governor of the Bank of Canada, a far-seeing guide to the powerful economic forces that will shape the decades ahead. The economic ground is shifting beneath our feet. The world is becoming more volatile, and people are understandably worried about their financial futures. In this urgent and accessible guide to the crises and opportunities that lie ahead, economist and former Governor of the Bank of Canada Stephen Poloz maps out the powerful tectonic forces that are shaping our future and the ideas that will allow us to master them. These forces include an aging workforce, mounting debt, and rising income inequality. Technological advances, too, are adding to the pressure, putting people out of work, and climate change is forcing a transition to a lower-carbon economy. It is no surprise that people are feeling uncertain. The implications of these tectonic tensions will cascade throughout every dimension of our lives—the job market, the housing market, the investment climate, as well as government and central bank policy, and the role of the corporation within society. The pandemic has added momentum to many of them. Poloz skillfully argues that past crises, from the Victorian Depression in the late 1800s to the more recent downturn in 2008, give a hint of what is in store for us in the decades ahead. Unlike the purely destructive power of earthquakes, the upheaval that is sure to come in the decades ahead will offer unexpected opportunities for renewal and growth. Filled with takeaways for employers, investors, and policymakers, as well as families discussing jobs and mortgage renewals around the kitchen table, The Next Age of Uncertainty is an indispensable guide for those navigating the fault lines of the risky world ahead.

The Great Inflation

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Publisher : University of Chicago Press
ISBN 13 : 0226066959
Total Pages : 545 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis The Great Inflation by : Michael D. Bordo

Download or read book The Great Inflation written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2013-06-28 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.

Alternative Economic Indicators

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Publisher : W.E. Upjohn Institute
ISBN 13 : 0880996765
Total Pages : 133 pages
Book Rating : 4.8/5 (89 download)

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Book Synopsis Alternative Economic Indicators by : C. James Hueng

Download or read book Alternative Economic Indicators written by C. James Hueng and published by W.E. Upjohn Institute. This book was released on 2020-09-08 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policymakers and business practitioners are eager to gain access to reliable information on the state of the economy for timely decision making. More so now than ever. Traditional economic indicators have been criticized for delayed reporting, out-of-date methodology, and neglecting some aspects of the economy. Recent advances in economic theory, econometrics, and information technology have fueled research in building broader, more accurate, and higher-frequency economic indicators. This volume contains contributions from a group of prominent economists who address alternative economic indicators, including indicators in the financial market, indicators for business cycles, and indicators of economic uncertainty.

The Federal Reserve System Purposes and Functions

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Publisher :
ISBN 13 : 9780894991967
Total Pages : 0 pages
Book Rating : 4.9/5 (919 download)

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Book Synopsis The Federal Reserve System Purposes and Functions by : Board of Governors of the Federal Reserve System

Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

International Macroeconomics in the Wake of the Global Financial Crisis

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Publisher : Springer
ISBN 13 : 3319790757
Total Pages : 298 pages
Book Rating : 4.3/5 (197 download)

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Book Synopsis International Macroeconomics in the Wake of the Global Financial Crisis by : Laurent Ferrara

Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.

The Predator State

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Publisher : Simon and Schuster
ISBN 13 : 141656683X
Total Pages : 243 pages
Book Rating : 4.4/5 (165 download)

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Book Synopsis The Predator State by : James Galbraith

Download or read book The Predator State written by James Galbraith and published by Simon and Schuster. This book was released on 2008-08-05 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: A progressive economist challenges popular conservative-minded economic practices, in a scathing critique of Reagan-Bush policies that contends that the political right is misrepresenting the consequences of free-market and free-trade ideals. 50,000 first printing.

The Taylor Rule and the Transformation of Monetary Policy

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Publisher : Hoover Press
ISBN 13 : 0817914064
Total Pages : 368 pages
Book Rating : 4.8/5 (179 download)

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Book Synopsis The Taylor Rule and the Transformation of Monetary Policy by : Robert Leeson

Download or read book The Taylor Rule and the Transformation of Monetary Policy written by Robert Leeson and published by Hoover Press. This book was released on 2013-09-01 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: A contributors' "who's who" from the academic and policy communities explain and provide perspectives on John Taylor's revolutionary thinking about monetary policy. They explore some of the literature that Taylor inspired and help us understand how the new ways of thinking that he pioneered have influenced actual policy here and abroad.

The Oxford Handbook of Bayesian Econometrics

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Publisher : Oxford University Press
ISBN 13 : 0191618268
Total Pages : 576 pages
Book Rating : 4.1/5 (916 download)

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Book Synopsis The Oxford Handbook of Bayesian Econometrics by : John Geweke

Download or read book The Oxford Handbook of Bayesian Econometrics written by John Geweke and published by Oxford University Press. This book was released on 2011-09-29 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bayesian econometric methods have enjoyed an increase in popularity in recent years. Econometricians, empirical economists, and policymakers are increasingly making use of Bayesian methods. This handbook is a single source for researchers and policymakers wanting to learn about Bayesian methods in specialized fields, and for graduate students seeking to make the final step from textbook learning to the research frontier. It contains contributions by leading Bayesians on the latest developments in their specific fields of expertise. The volume provides broad coverage of the application of Bayesian econometrics in the major fields of economics and related disciplines, including macroeconomics, microeconomics, finance, and marketing. It reviews the state of the art in Bayesian econometric methodology, with chapters on posterior simulation and Markov chain Monte Carlo methods, Bayesian nonparametric techniques, and the specialized tools used by Bayesian time series econometricians such as state space models and particle filtering. It also includes chapters on Bayesian principles and methodology.

Shadow Banking

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Publisher : International Monetary Fund
ISBN 13 : 1475583583
Total Pages : 37 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Shadow Banking by : Mr.Stijn Claessens

Download or read book Shadow Banking written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2012-12-04 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note outlines the basic economics of the shadow banking system, highlights (systemic) risks related to it, and suggests implications for measurement and regulatory approaches.