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Monetary Policy Committee
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Book Synopsis Committee Decisions on Monetary Policy by : Henry W. Chappell, Jr.
Download or read book Committee Decisions on Monetary Policy written by Henry W. Chappell, Jr. and published by MIT Press. This book was released on 2004-12-30 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: An examination of how the policy preferences of individual members of the Federal Open Market Committee are translated into monetary policy decisions. In many countries, monetary policy decisions are made by committees. In the United States, these decisions are made by the Federal Reserve's Federal Open Market Committee (FOMC), which consists of the seven members of the Board of Governors and the presidents of the twelve district banks. This book examines the process by which the preferences of the FOMC's individual members are translated into collective policy choices. This focus on the aggregation of individual preferences into group decisions is unique and provides an important perspective on the evolution of monetary policy choices. To study decision making by the FOMC, the authors have used both formal voting records and detailed transcripts and summaries of deliberations contained in the committee's Memoranda of Discussion and FOMC Transcripts. The latter sources have been used to construct data sets describing individual committee members' policy preferences for the 1970-1978 and 1987-1996 periods when the FOMC was chaired by Arthur Burns and Alan Greenspan, respectively. These data are used to estimate monetary policy reaction functions for individual Committee members and to explore the role of majoritarian pressures, pressures for consensus, and the power of the chairman in collective decision making. The rich anecdotal evidence found in the Memoranda of Discussion and FOMC Transcripts inspires the narrative approach taken in two chapters, on the influence of political pressure on FOMC deliberations and on the relevance of the time inconsistency problem for the rise of inflation in the 1970s.
Book Synopsis Elements of Optimal Monetary Policy Committee Design by : Jérôme Vandenbussche
Download or read book Elements of Optimal Monetary Policy Committee Design written by Jérôme Vandenbussche and published by International Monetary Fund. This book was released on 2006-12 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The move from individual decision making to committee decision making is widely seen as a major evolution in contemporary central banking. This paper reviews the relevant economics and social psychology literatures with a view to providing some insights into the question of optimal monetary policy committee design. While the preference aggregation literature points to the effect of committee structure on the extent of the time inconsistency problem and its associated costs, the belief aggregation literature analyzes how different committee structures affect the efficiency of information pooling, the process of social influence, and collective accuracy. In conclusion, we highlight the main tradeoffs that the analysis has brought to light and point to directions for future research.
Book Synopsis Economists' National Committee on Monetary Policy, Nature and Purposes by : Economists' National Committee on Monetary Policy (U.S.)
Download or read book Economists' National Committee on Monetary Policy, Nature and Purposes written by Economists' National Committee on Monetary Policy (U.S.) and published by . This book was released on 1941 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :Great Britain. Parliament. House of Commons. Treasury Committee Publisher : ISBN 13 :9780102212013 Total Pages :90 pages Book Rating :4.2/5 (12 download)
Book Synopsis Monetary Policy Committee by : Great Britain. Parliament. House of Commons. Treasury Committee
Download or read book Monetary Policy Committee written by Great Britain. Parliament. House of Commons. Treasury Committee and published by . This book was released on 2001 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: The establishment of an operationally independent central bank was the first major policy decision by the Chancellor in 1997. He set out the framework whereby he would set the objectives for monetary policy, in the form of an inflation target, but the Bank of England and the nine-member Monetary Policy Committee (MPC) would have the operational responsibility. This report is divided into four sections. The first assesses the performance of the MPC, whilst the second examines the components of the broader monetary framework. The third part looks at how the Treasury Committee has met its own objectives and the last section looks at the wider aspects of economic policy. They conclude that the record of the MPC is impressive and it has established a high level of credibility but there is a worry that there is a bias to undershooting the inflation target.
Book Synopsis Monetary Policy Committees, Learning and Communication by : Anke Weber
Download or read book Monetary Policy Committees, Learning and Communication written by Anke Weber and published by International Monetary Fund. This book was released on 2010-04-01 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper considers optimal communication by monetary policy committees in a model of imperfect knowledge and learning. The main policy implications are that there may be costs to central bank communication if the public is perpetually learning about the committee's decision-making process and policy preferences. When committee members have heterogeneous policy preferences, welfare is greater under majority voting than under consensus decision-making. Furthermore, central bank communication under majority voting is more likely to be beneficial in this case. It is also shown that a chairman with stable policy preferences who carries significant weight in the monetary policy decision-making process is welfare enhancing.
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.
Author :United States. Congress. House. Committee on Banking, Currency and Housing. Subcommittee on Domestic Monetary Policy Publisher : ISBN 13 : Total Pages :256 pages Book Rating :4.:/5 (327 download)
Book Synopsis The Impact of the Federal Reserve's Money Policies on the Economy by : United States. Congress. House. Committee on Banking, Currency and Housing. Subcommittee on Domestic Monetary Policy
Download or read book The Impact of the Federal Reserve's Money Policies on the Economy written by United States. Congress. House. Committee on Banking, Currency and Housing. Subcommittee on Domestic Monetary Policy and published by . This book was released on 1976 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Banking, Currency and Housing. Subcommittee on Domestic Monetary Policy Publisher : ISBN 13 : Total Pages :48 pages Book Rating :4.3/5 (91 download)
Book Synopsis The Federal Reserve System, Accountability Or Waste? by : United States. Congress. House. Committee on Banking, Currency and Housing. Subcommittee on Domestic Monetary Policy
Download or read book The Federal Reserve System, Accountability Or Waste? written by United States. Congress. House. Committee on Banking, Currency and Housing. Subcommittee on Domestic Monetary Policy and published by . This book was released on 1975 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Report on the Conduct of Monetary Policy by : Stephen L. Neal
Download or read book Report on the Conduct of Monetary Policy written by Stephen L. Neal and published by . This book was released on 1988 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Policy and the State of the Economy by : United States. Congress. House. Committee on Financial Services
Download or read book Monetary Policy and the State of the Economy written by United States. Congress. House. Committee on Financial Services and published by . This book was released on 2007 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :Great Britain. Parliament. House of Commons. Treasury Committee Publisher :The Stationery Office ISBN 13 :9780215029089 Total Pages :24 pages Book Rating :4.0/5 (29 download)
Book Synopsis Bank of England Monetary Policy Committee by : Great Britain. Parliament. House of Commons. Treasury Committee
Download or read book Bank of England Monetary Policy Committee written by Great Britain. Parliament. House of Commons. Treasury Committee and published by The Stationery Office. This book was released on 2006 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Treasury Committee has established a practice of holding hearings with persons appointed to the Monetary Policy Committee (MPC) of the Bank of England and reporting on those hearings. This practice enhances the transparency of the appointment process and increases the level of information available to the public and to Parliament about the functioning of the MPC. The Committee has held a hearing with Professor David Blanchflower about his appointment to the MPC, and is satisfied that Professor Blanchflower meets the criteria for appointment.
Author :United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Domestic Monetary Policy Publisher : ISBN 13 : Total Pages :296 pages Book Rating :4.3/5 (121 download)
Book Synopsis Federal Reserve Act Amendments by : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Domestic Monetary Policy
Download or read book Federal Reserve Act Amendments written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Domestic Monetary Policy and published by . This book was released on 1984 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Domestic and International Monetary Policy Publisher : ISBN 13 :9780160538742 Total Pages :168 pages Book Rating :4.5/5 (387 download)
Book Synopsis The Future of Money by : United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Domestic and International Monetary Policy
Download or read book The Future of Money written by United States. Congress. House. Committee on Banking and Financial Services. Subcommittee on Domestic and International Monetary Policy and published by . This book was released on 1995 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :Great Britain. Parliament House of Lords. Select Committee on Economic Affairs Publisher : ISBN 13 :9780104005026 Total Pages :33 pages Book Rating :4.0/5 (5 download)
Book Synopsis Monetary Policy Committee of the Bank of England by : Great Britain. Parliament House of Lords. Select Committee on Economic Affairs
Download or read book Monetary Policy Committee of the Bank of England written by Great Britain. Parliament House of Lords. Select Committee on Economic Affairs and published by . This book was released on 2001 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economic Affairs Committee was appointed in 2001, with a wide remit to consider all matters of economic affairs. It follows on from the MPC Committee (House of Lords Select Committee on the Monetary Policy Committee of the Bank of England) and will continue its work. To this end this report contains evidence from the Governor of the Bank of England and the response of the Government and the MPC to the last report by the MPC Committee.
Author :United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Domestic Monetary Policy Publisher : ISBN 13 : Total Pages :60 pages Book Rating :4.:/5 (319 download)
Book Synopsis Zero Inflation by : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Domestic Monetary Policy
Download or read book Zero Inflation written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Domestic Monetary Policy and published by . This book was released on 1990 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Domestic Monetary Policy Publisher : ISBN 13 : Total Pages :332 pages Book Rating :4.0/5 ( download)
Book Synopsis Maintaining and Making Public Minutes of Federal Reserve Meetings by : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Domestic Monetary Policy
Download or read book Maintaining and Making Public Minutes of Federal Reserve Meetings written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Domestic Monetary Policy and published by . This book was released on 1977 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Quiet Revolution by : Alan S. Blinder
Download or read book The Quiet Revolution written by Alan S. Blinder and published by Yale University Press. This book was released on 2008-10-01 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although little noticed, the face of central banking has changed significantly over the past ten to fifteen years, says the author of this enlightening book. Alan S. Blinder, a former vice chairman of the Federal Reserve System and member of President Clinton’s Council of Economic Advisers, shows that the changes, though quiet, have been sufficiently profound to constitute a revolution in central banking. Blinder considers three of the most significant aspects of the revolution. The first is the shift toward transparency: whereas central bankers once believed in secrecy and even mystery, greater openness is now considered a virtue. The second is the transition from monetary policy decisions made by single individuals to decisions made by committees. The third change is a profoundly different attitude toward the markets, from that of stern schoolmarm to one of listener. With keenness and balance, the author examines the origins of these changes and their pros and cons.
