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Monetary Policy In 1985
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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.
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.
Book Synopsis Japanese Monetary Policy by : Kenneth J. Singleton
Download or read book Japanese Monetary Policy written by Kenneth J. Singleton and published by University of Chicago Press. This book was released on 2007-12-01 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: How has the Bank of Japan (BOJ) helped shape Japan's economic growth during the past two decades? This book comprehensively explores the relations between financial market liberalization and BOJ policies and examines the ways in which these policies promoted economic growth in the 1980s. The authors argue that the structure of Japan's financial markets, particularly restrictions on money-market transactions and the key role of commercial banks in financing corporate investments, allowed the BOJ to influence Japan's economic success. The first two chapters provide the most in-depth English-language discussion of the BOJ's operating procedures and policymaker's views about how BOJ actions affect the Japanese business cycle. Chapter three explores the impact of the BOJ's distinctive window guidance policy on corporate investment, while chapter four looks at how monetary policy affects the term structure of interest rates in Japan. The final two chapters examine the overall effect of monetary policy on real aggregate economic activity. This volume will prove invaluable not only to economists interested in the technical operating procedures of the BOJ, but also to those interested in the Japanese economy and in the operation and outcome of monetary reform in general.
Book Synopsis Foreign Exchange Value of the Dollar by :
Download or read book Foreign Exchange Value of the Dollar written by and published by . This book was released on 1984 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Policy Strategy by : Frederic S. Mishkin
Download or read book Monetary Policy Strategy written by Frederic S. Mishkin and published by MIT Press. This book was released on 2007 with total page 561 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Monetary Policy written by Y. Barroux and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Patrick Artus and Yves Barroux The Applied Econometric Association organised an international conference on "Monetary and Financial Models" in Geneva in January 1987. The purpose of this book is to make available to the public a choice of the papers that were presented at the conference. The selected papers all deal with the setting of monetary targets and the effects of monetary policy on the economy as well as with the analysis of the financial behaviours of economic agents. Other papers presented at the same conference but dealing with the external aspects of monetary policy (exchange rate policy, international coordination of economic policies, international transmission of business cycles, . . . ) are the matter of a distinct publication. The papers put together to make up this book either are theoretical research contributions or consist of applied statistical or econometric work. It seemed to be more logical to start with the more theoretical papers. The topics tackled in the first two parts of the book have in common the fact that they appeared just recently in the field of economic research and deal with the analysis of the behaviour of Central Banks. They analyse this behaviour so as to be able to exhibit its major determinants as well as revealed preferences of Central Banks: this topic comes under the caption "optimal monetary policy and reaction function of the monetary authorities".
Book Synopsis Monetary Policy Strategies by : International Monetary Fund
Download or read book Monetary Policy Strategies written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-10-04 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Monetary Policy in Interdependent Economies by : Matthew B. Canzoneri
Download or read book Monetary Policy in Interdependent Economies written by Matthew B. Canzoneri and published by MIT Press. This book was released on 1991 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary Policy in Interdependent Economies provides the first comprehensive overview of the implications of using game theory to analyze interactions among national monetary policymakers. It synthesizes the pessimistic view of sovereign policymaking that results from the analysis of one-shot games with the optimistic view derived from the analysis of quid pro quo strategies in repeated games. Good outcomes, the authors conclude, require coordination among noncooperative policymakers, and that sometimes policymakers, must be forced to cooperate. They suggest two roles for supranational institutions such as the International Monetary Fund: the IMF can provide a forum where noncooperative policymakers, can work to achieve good outcomes, and it can police agreements among cooperative policymakers Canzoneri and Henderson take clear stands on controversial issues and make recent advances in game theory accessible by using a single unified framework to explain a wide range of concepts. They begin by analyzing one-shot interactions between two policymakers, In subsequent chapters they extend their analysis to allow for more policymakers, and coalitions, for repeated interactions among policymakers, and for the possibility of time inconsistency. Matthew B. Canzoneri is Professor of Economics at Georgetown University. Dale W. Henderson is Assistant Director, Division of International Finance, Board of Governors of the Federal Reserve System.
Book Synopsis The Economic and Budget Outlook, an Update by :
Download or read book The Economic and Budget Outlook, an Update written by and published by . This book was released on 1990 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Asset Prices and Monetary Policy by : John Y. Campbell
Download or read book Asset Prices and Monetary Policy written by John Y. Campbell and published by University of Chicago Press. This book was released on 2008-11-15 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic growth, low inflation, and financial stability are among the most important goals of policy makers, and central banks such as the Federal Reserve are key institutions for achieving these goals. In Asset Prices and Monetary Policy, leading scholars and practitioners probe the interaction of central banks, asset markets, and the general economy to forge a new understanding of the challenges facing policy makers as they manage an increasingly complex economic system. The contributors examine how central bankers determine their policy prescriptions with reference to the fluctuating housing market, the balance of debt and credit, changing beliefs of investors, the level of commodity prices, and other factors. At a time when the public has never been more involved in stocks, retirement funds, and real estate investment, this insightful book will be useful to all those concerned with the current state of the economy.
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 The Myth of Independence by : Sarah Binder
Download or read book The Myth of Independence written by Sarah Binder and published by Princeton University Press. This book was released on 2019-07-09 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth look at how politics and economics shape the relationship between Congress and the Federal Reserve Born out of crisis a century ago, the Federal Reserve has become the most powerful macroeconomic policymaker and financial regulator in the world. The Myth of Independence marshals archival sources, interviews, and statistical analyses to trace the Fed’s transformation from a weak, secretive, and decentralized institution in 1913 to a remarkably transparent central bank a century later. Offering a unique account of Congress’s role in steering this evolution, Sarah Binder and Mark Spindel explore the Fed’s past, present, and future and challenge the myth of its independence.
Book Synopsis The Rise and Fall of Monetary Targeting in Australia by : Simon Guttmann
Download or read book The Rise and Fall of Monetary Targeting in Australia written by Simon Guttmann and published by . This book was released on 2005 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Policy and Issues by : Lauren C. Williams
Download or read book Monetary Policy and Issues written by Lauren C. Williams and published by Nova Publishers. This book was released on 2006 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 1970's, many countries were plagued by persistently high inflation rates, which were thought to cause a significant loss in economic efficiency. Since persistent inflation is considered to be ultimately the result of monetary policy, many countries in the 1990s sought institutional reforms to their central banks to prevent a return to the 1970s experience. A popular reform was to move from giving central banks multiple policy goals to a single mandate of price stability. The single mandate was accompanied by the introduction of an inflation target, in which central banks aim to keep inflation within a pre-defined numerical range. The logic behind these reforms was a belief among proponents that it would remove the political temptation to 'pump up' the economy in the short run at the expense of long-run price stability, and a belief that 'fine tuning' monetary policy in response to every change in economic conditions, was of little value. This book develops quantitative measurements to analyse the success of inflation targeting abroad by comparing both the performance of targeters to non-targeters and the performance of countries before and after targeting was adopted.
Book Synopsis Why Inflation Targeting? by : Charles Freedman
Download or read book Why Inflation Targeting? written by Charles Freedman and published by International Monetary Fund. This book was released on 2009-04-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the second chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation-Targeting Regimes: Saying What You Do and Doing What You Say." We begin by discussing the costs of inflation, including their role in generating boom-bust cycles. Following a general discussion of the need for a nominal anchor, we describe a specific type of monetary anchor, the inflation-targeting regime, and its two key intellectual roots-the absence of long-run trade-offs and the time-inconsistency problem. We conclude by providing a brief introduction to the way in which inflation targeting works.
Download or read book History of the Eighties written by and published by . This book was released on 1997 with total page 594 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Critique of Monetary Policy by : J. C. R. Dow
Download or read book A Critique of Monetary Policy written by J. C. R. Dow and published by Clarendon Press. This book was released on 1988-05-05 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is both a theory of monetary policy, and an examination of how it has worked in the UK. It first analyses the behaviour of the banking system, and then the difficulties of central bank control. The authors argue that money creation is an endogenous process, determined partly by the price level, and not the other way round.
