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.

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.

Monetary Policy Strategy

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Publisher : MIT Press
ISBN 13 : 0262134829
Total Pages : 561 pages
Book Rating : 4.2/5 (621 download)

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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.

The Federal Reserve Act (approved December 23, 1913) as Amended

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Publisher :
ISBN 13 :
Total Pages : 114 pages
Book Rating : 4.A/5 ( download)

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Book Synopsis The Federal Reserve Act (approved December 23, 1913) as Amended by : United States

Download or read book The Federal Reserve Act (approved December 23, 1913) as Amended written by United States and published by . This book was released on 1920 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Interest and Prices

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Publisher : Princeton University Press
ISBN 13 : 1400830168
Total Pages : 805 pages
Book Rating : 4.4/5 (8 download)

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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.

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.

Monetary Policy and the Housing Bubble

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Publisher :
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.3/5 (121 download)

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Book Synopsis Monetary Policy and the Housing Bubble by : Jane Dokko

Download or read book Monetary Policy and the Housing Bubble written by Jane Dokko and published by . This book was released on 2009 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Monetary Policy, Inflation, and the Business Cycle

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Publisher : Princeton University Press
ISBN 13 : 1400866278
Total Pages : 295 pages
Book Rating : 4.4/5 (8 download)

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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

Monetary Policy Strategies

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Publisher : International Monetary Fund
ISBN 13 : 1451952570
Total Pages : 28 pages
Book Rating : 4.4/5 (519 download)

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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.

Law and Macroeconomics

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Publisher : Harvard University Press
ISBN 13 : 0674976053
Total Pages : 281 pages
Book Rating : 4.6/5 (749 download)

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Book Synopsis Law and Macroeconomics by : Yair Listokin

Download or read book Law and Macroeconomics written by Yair Listokin and published by Harvard University Press. This book was released on 2019-03-11 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: A distinguished Yale economist and legal scholar’s argument that law, of all things, has the potential to rescue us from the next economic crisis. After the economic crisis of 2008, private-sector spending took nearly a decade to recover. Yair Listokin thinks we can respond more quickly to the next meltdown by reviving and refashioning a policy approach whose proven success is too rarely acknowledged. Harking back to New Deal regulatory agencies, Listokin proposes that we take seriously law’s ability to function as a macroeconomic tool, capable of stimulating demand when needed and relieving demand when it threatens to overheat economies. Listokin makes his case by looking at both positive and cautionary examples, going back to the New Deal and including the Keystone Pipeline, the constitutionally fraught bond-buying program unveiled by the European Central Bank at the nadir of the Eurozone crisis, the ongoing Greek crisis, and the experience of U.S. price controls in the 1970s. History has taught us that law is an unwieldy instrument of macroeconomic policy, but Listokin argues that under certain conditions it offers a vital alternative to the monetary and fiscal policy tools that stretch the legitimacy of technocratic central banks near their breaking point while leaving the rest of us waiting and wallowing.

A Neoclassical Analysis of Macroeconomic Policy

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Publisher : CUP Archive
ISBN 13 : 9780521230773
Total Pages : 256 pages
Book Rating : 4.2/5 (37 download)

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Book Synopsis A Neoclassical Analysis of Macroeconomic Policy by : Michael Beenstock

Download or read book A Neoclassical Analysis of Macroeconomic Policy written by Michael Beenstock and published by CUP Archive. This book was released on 1980 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some recent trends in macroeconomic theory and practice; A critique of Keynesian macroeconomics; The basic neoclassical model; Extension of the neoclassical model; Long term policy analysis; The rational expectations hypothesis; Macroeconomic policy and rational expectations; Theory and practice.

New Approaches in Monetary Policy

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Publisher : Springer Science & Business Media
ISBN 13 : 9400995776
Total Pages : 384 pages
Book Rating : 4.4/5 (9 download)

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Book Synopsis New Approaches in Monetary Policy by : J.E. Wadsworth

Download or read book New Approaches in Monetary Policy written by J.E. Wadsworth and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Colloquium at Wiesbaden was the seventh in a series organized by the Societe Universitaire Europeenne de Recherches Financieres (SUERF) at intervals since 1969. The titles, places and dates of previous Colloquia are noted on page ii, with brief particulars of the ensuing publications. From the beginning, the emphasis has been on money and finance in a European setting, and the most recent Colloquium, held in Wiesbaden for the three days beginning on September 29, 1977, followed this well-established pattern. The subject, "New Approaches in Monetary Policy", was divided into four aspects, each discussed in separate commissions, as described in the General Report (since the languages used by SUERF are English and French, it appears in the original French on page 327, and in an English translation, on page 355. Three other chapters and the Preface are in French. ) The separate commissions, each with its own chairman and rapporteur, were addressed by the authors of the specially written papers, all experts, active in their fields, and they also led the discussions. M. Raymond Bertrand, the President ofSUERF, was Chairman for the Colloquium as a whole, which was in plenary session for the opening and closing meetings. The Rapporteur General was Professor Paul Coulbois, whose report is mentioned above. Attendance at the Colloquium has risen over the years, and so has the number of papers presented.

The Euro-dollar Market: Some Unresolved Issues

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Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.4/5 (91 download)

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Book Synopsis The Euro-dollar Market: Some Unresolved Issues by : Fred H. Klopstock

Download or read book The Euro-dollar Market: Some Unresolved Issues written by Fred H. Klopstock and published by . This book was released on 1968 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:

A Century of Monetary Policy at the Fed

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Publisher : Springer
ISBN 13 : 1137578599
Total Pages : 332 pages
Book Rating : 4.1/5 (375 download)

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Book Synopsis A Century of Monetary Policy at the Fed by : David E. Lindsey

Download or read book A Century of Monetary Policy at the Fed written by David E. Lindsey and published by Springer. This book was released on 2016-04-20 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this narrative history, David E. Lindsey gives the reader a ringside seat to a century of policies at the US Federal Reserve. Alternating between broad historical strokes and deep dives into the significance of monetary issues and developments, Lindsey offers a fascinating look into monetary policymaking from the Fed's inception in 1913 to today. Lindsey's three decades of service on the Federal Reserve Board staff allow him to combine the heft of scholarship with an insider's perspective on how the recent chairmen's and current chairwoman's personalities and singular visions have shaped policy choices with far-reaching consequences. He critiques the performances of Chairman Ben Bernanke and Vice Chair Janet Yellen during the prelude, outbreak, and aftermath of the financial crisis of 2008, situating them in the context of the Fed's century-long history. He also quantitatively explores an alternative to the conventional New-Keynesian theory of inflation, replacing so-called "rational expectations" with the Fed's inflation objective. This unique volume is a piece of living history that has much to offer economists and monetary policy and finance professionals.

Monthly Labor Review

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Publisher :
ISBN 13 :
Total Pages : 634 pages
Book Rating : 4.:/5 (2 download)

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Book Synopsis Monthly Labor Review by :

Download or read book Monthly Labor Review written by and published by . This book was released on 1978 with total page 634 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publishes in-depth articles on labor subjects, current labor statistics, information about current labor contracts, and book reviews

Stewards of the Market

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Publisher : Harvard University Press
ISBN 13 : 0674980786
Total Pages : 225 pages
Book Rating : 4.6/5 (749 download)

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Book Synopsis Stewards of the Market by : Mitchel Y. Abolafia

Download or read book Stewards of the Market written by Mitchel Y. Abolafia and published by Harvard University Press. This book was released on 2020-03-10 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: A fast-paced, behind-closed-doors account of the Federal Reserve’s decision making during the 2008 financial crisis, showing how Fed policymakers overcame their own assumptions to contain the disaster. The financial crisis of 2008 led to the collapse of several major banks and thrust the US economy into the deepest recession since the Great Depression. The Federal Reserve was the agency most responsible for maintaining the nation’s economic stability. And the Fed’s Open Market Committee was a twelve-member body at the epicenter, making sense of the unfolding crisis and fashioning a response. This is the story of how they failed, learned, and staved off catastrophe. Drawing on verbatim transcripts of the committee’s closed-door meetings, Mitchel Abolafia puts readers in the room with the Federal Reserve’s senior policymaking group. Abolafia uncovers what the Fed’s policymakers knew before, during, and after the collapse. He explores how their biases and intellectual commitments both helped and hindered as they made sense of the emergency. In an original contribution to the sociology of finance, Stewards of the Market examines the social and cultural factors that shaped the Fed’s response, one marked by missed cues and analytic failures but also by successful improvisations and innovations. Ideas, traditions, and power all played their roles in the Fed’s handling of the crisis. In particular, Abolafia demonstrates that the Fed’s adherence to conflicting theories of self-correcting markets contributed to the committee’s doubts and decisions. A vivid portrait of the world’s most powerful central bank in a moment of high stakes, Stewards of the Market is rich with insights for the next financial downturn.

Foreign Exchange Value of the Dollar

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Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.3/5 (121 download)

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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: