Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Strengthening The Monetary Policy Framework In Korea
Download Strengthening The Monetary Policy Framework In Korea full books in PDF, epub, and Kindle. Read online Strengthening The Monetary Policy Framework In Korea ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis Strengthening the Monetary Policy Framework in Korea by : Kevin Clinton
Download or read book Strengthening the Monetary Policy Framework in Korea written by Kevin Clinton and published by International Monetary Fund. This book was released on 2019-05-13 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Adoption of inflation targeting by the Bank of Korea (BOK) in 1998 contributed to low and stable inflation. However, after the global financial crisis (GFC) monetary policy faced more challenging conditions. Inflation slipped below the target range in 2012 and remains below it despite a cut in the target to 2 percent in 2016. Policy also became more complex with the addition of financial stability to the central bank’s mandate. To address these challenges, this paper proposes a two-pronged approach to strengthen the effectiveness with which monetary policy can meet its objectives: first, enhanced communication on how the target will be achieved over the medium-term, building on a forecasting and policy analysis system; and, second, by clarifying the complementary role of macroprudential policy in containing financial stability risks so that monetary policy can focus on the inflation target. Simulation of a macro model calibrated to Korea illustrates how it can be used to provide this greater medium-term focus on achieving the inflation target and strengthen communication.
Book Synopsis Strengtherin the Monetary Policy Framework in Korea by :
Download or read book Strengtherin the Monetary Policy Framework in Korea written by and published by . This book was released on 2019 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Adoption of inflation targeting by the Bank of Korea (BOK) in 1998 contributed to low and stable inflation. However, after the global financial crisis (GFC) monetary policy faced more challenging conditions. Inflation slipped below the target range in 2012 and remains below it despite a cut in the target to 2 percent in 2016. Policy also became more complex with the addition of financial stability to the central bank’s mandate. To address these challenges, this paper proposes a two-pronged approach to strengthen the effectiveness with which monetary policy can meet its objectives: first, enhanced communication on how the target will be achieved over the medium-term, building on a forecasting and policy analysis system; and, second, by clarifying the complementary role of macroprudential policy in containing financial stability risks so that monetary policy can focus in the inflation target. Simulation of a macro model calibrated to Korea illustrates how it can be used to provide this greater medium-term focus on achieving the inflation target and strengthen communication.
Author :International Monetary Fund. Asia and Pacific Dept Publisher :International Monetary Fund ISBN 13 :148434166X Total Pages :118 pages Book Rating :4.4/5 (843 download)
Book Synopsis Republic of Korea by : International Monetary Fund. Asia and Pacific Dept
Download or read book Republic of Korea written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2018-02-13 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues chapter outlines a strategy to facilitate this and navigate the more challenging monetary environment, involving enhanced communication of policy interest rate intentions and inflation-forecast targeting. The reduction in the inflation target by a percentage point to 2 percent in January 2016 weakened the nominal anchor. Monetary policy can play a role rebuilding the credibility of the anchor more rapidly through the adoption of inflation-forecast targeting. This strengthening of the monetary policy framework involves enhancing communications. An effective, credible monetary policy cannot address all macroeconomic challenges facing Korea. Rather, it can foster robust growth with low inflation, providing a stable and predictable environment that allows other policies to work more effectively. These other policies play a complementary role. Fiscal policy can reinforce the effectiveness of monetary policy, as illustrated by model scenarios. Structural policies can also support monetary policy by, for example, boosting potential growth.
Book Synopsis Inflation Targeting in Korea by : Alexander W. Hoffmaister
Download or read book Inflation Targeting in Korea written by Alexander W. Hoffmaister and published by International Monetary Fund. This book was released on 1999 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: The revised Bank of Korea Act has recently come into effect making it clear that price stability the primary goal of monetary policy in Korea. Since April 1, 1998 the Bank of Korea (BOK) is no longer to pursue the dual objectives of the maintenance of the stability of the value of money and strengthening of the soundness of the banking system and is now entrusted with the primary goal of price stability. Each year the BOK is to set a "price stability" target in consultation with the government and to elaborate a monetary plan to achieve this target. The BOK is required to publicly announce the monetary plan, publish the minutes of the monetary policy board meetings, and prepare a detailed report on monetary policy to be submitted to the National Assembly at least once a year.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1513541439 Total Pages :65 pages Book Rating :4.5/5 (135 download)
Book Synopsis Republic of Korea by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Republic of Korea written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2020-04-20 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents Financial System Stability Assessment (FSSA) with the Republic of Korea. The Korean authorities have continued their efforts at upgrading the prudential, legal, and supervisory framework for the financial sector, and keeping up with international standards and practices in other G20 jurisdictions. The authorities have been strengthening the system with micro and macroprudential measures against vulnerabilities, strengthening the crisis management framework, and upgrading the prudential and legal framework. The FSSA suggests moving toward a more forward-looking monitoring and systemic risk identification mechanism. The reliability of various stress tests could be augmented with advanced methods, system-wide monitoring, and testing the overall leverage related to residential properties, households’ resilience to adverse shocks, and sovereign contingent liabilities. Stronger focus is required on systemic risks emanating from securities market activities that can amplify contagion, including sudden redemption and liquidity pressures in the funds and asset management industry.
Book Synopsis A Framework for Exchange Rate Policy in Korea by : Michael Patrick Dooley
Download or read book A Framework for Exchange Rate Policy in Korea written by Michael Patrick Dooley and published by 대외경제정책연구원. This book was released on 2002 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Policy and Central Banking in Korea by : Woosik Moon
Download or read book Monetary Policy and Central Banking in Korea written by Woosik Moon and published by Cambridge University Press. This book was released on 2022-02-24 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study is among the first to examine the theory and practice of monetary policy in South Korea. Woosik Moon provides a detailed analysis of the central bank of South Korea, one of the most successful and important economies in Asia. He covers everything from monetary policy to inflation targeting and macroprudential regulation, explaining how these policy tools were used to deal with the aftermath of the 2007-2011 financial crisis. He then brings his study into our current moment, speculating as to how the use of these policies will change in order to deal with the fallout of the Covid-19 pandemic. This book offers in-depth investigations and the provision of the most up-to-date information about the Bank of Korea's monetary and financial actions, serving as essential reading for central bankers and professionals of financial markets around the world, as well as anyone interested in monetary policy-making.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1484399110 Total Pages :54 pages Book Rating :4.4/5 (843 download)
Book Synopsis Republic of Korea by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Republic of Korea written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2014-05-20 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Financial System Stability Assessment report on the Republic of Korea highlights that the Korean economy is experiencing a modest recovery, helped by supportive monetary and fiscal policies and buoyant exports. GDP growth is expected to rebound to 2.8 percent in 2013, and strengthen further to 3.7 percent in 2014, in view of the projected global recovery and a gradual pickup in domestic demand. Inflation has fallen to 0.7 percent in October 2013 from 4.2 percent in 2011. With stronger exports and muted domestic demand, the current account surplus has widened and is expected to reach about 5.5 percent of GDP in 2013.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher : ISBN 13 :9781513557014 Total Pages :67 pages Book Rating :4.5/5 (57 download)
Book Synopsis Republic of Korea by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Republic of Korea written by International Monetary Fund. Monetary and Capital Markets Department and published by . This book was released on 2020-09-18 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: Past experience with financial crises places systemic risk oversight at the core of Korea's approach to the financial system. The Korean authorities have amassed over a decade of experience with macroprudential policies. They have put in place rigorous and sophisticated processes for risk monitoring. They publish first-rate analysis. And they have actively developed measures to mitigate risks to the financial system--notably from FX exposures, and from household indebtedness--as circumstances have changed. But their system has evolved to be highly complex, which poses challenges for coordination, communication, and transparency; moreover, their toolkit needs to be extended. These areas should be the focus of efforts to strengthen the policy framework.
Book Synopsis Did Korean Monetary Policy Help Soften the Impact of the Global Financial Crisis of 2008-2009? by : Mr.Harun Alp
Download or read book Did Korean Monetary Policy Help Soften the Impact of the Global Financial Crisis of 2008-2009? written by Mr.Harun Alp and published by International Monetary Fund. This book was released on 2012-01-01 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: Korea was one of the Asian economies hardest hit by the global financial crisis. Anticipating the downturn that would follow the episode of extreme financial stress, the Bank of Korea (BOK) let the exchange rate depreciate as capital flowed out, and preemptively cut the policy rate by 325 basis points. But did it work? This paper seeks a quantitative answer to the following question: Were it not for an inflation targeting framework underpinned by a flexible exchange rate regime, how much deeper would the recession have been? Taking the most intense year of the crisis as our baseline (2008:Q4?2009:Q3), counterfactual simulations indicate that rather the actual outcome of a -2.1 percent contraction, the outturn would have been -2.9 percent if the BOK had not implemented countercyclical and discretionary interest rate cuts. Furthermore, had a fixed exchange rate regime been in place, simulations indicate that output would have contracted by -7.5 percent over the same four-quarter period. In other words, exchange rate flexibility and the interest rate cuts implemented by the BOK helped substantially soften the impact of the global financial crisis on the Korean economy. These counterfactual experiments are based on an estimated structural model, which, along with standard nominal and real rigidities, includes a financial accelerator mechanism in an open-economy framework.
Book Synopsis The Korean Financial Crisis of 1997—A Strategy of Financial Sector Reform by : Mr.Angel J. Ubide
Download or read book The Korean Financial Crisis of 1997—A Strategy of Financial Sector Reform written by Mr.Angel J. Ubide and published by International Monetary Fund. This book was released on 1999-03-01 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: After years of strong performance, Korea’s economy entered a crisis in 1997, owing largely to structural problems in its financial and corporate sectors. These problems emerged in the second half of that year, when the capital inflows that had helped finance Korea’s growth were reversed, as foreign investors—reeling from losses in other Southeast Asian economies—decided to reduce their exposure to Korea. This paper focuses on the sources of the crisis that originated in the financial sector, the measures taken to deal with it, and the evolution of key banking and financial variables in its aftermath.
Book Synopsis Republic of Korea by : International Monetary Fund
Download or read book Republic of Korea written by International Monetary Fund and published by . This book was released on 2011 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent global financial crisis has exposed the limitations of a conventional inflation targeting framework in insulating an economy from all shocks, and demonstrated that its rigid application may aggravate the effect of shocks on output and inflation. Possible refinements to the inflation targeting framework in Korea were investigated by taking into account developments in the financial sector. The findings indicate that incorporating financial stability considerations will ease business cycle fluctuations by mitigating the buildup of factors that lead to large fluctuations in output and inflation.
Book Synopsis Post-Crisis Finanacial Development in Korea and Challenges for Monetary Policy by : Gongpil Choi
Download or read book Post-Crisis Finanacial Development in Korea and Challenges for Monetary Policy written by Gongpil Choi and published by . This book was released on 2014 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: [Enter Abstract Body]A rapid macroeconomic turnaround and lingering financial market uncertainties in Korea are seen as conflicting but consistent indicators of the fundamental weakness in financial markets. Drastic changes in firms' financing strategy, volatile capital movements, and loose financial supervision also reflect problems of applying macro measures when market functions are not fully normalized. Given the increasing importance of robust financial sector and the limited role of banking sector in maturity transformation, the missing link for economic efficiency and financial stability is seen as the absence of long-term capital market. Heavier reliance on poorly supervised capital markets in the wake of crisis accentuated business cycle and led to complacency that thwarted institutional reform. Future macro policy needs to be pursued with special considerations for promoting deeper and broader financial markets. Poor risk evaluations and currency and maturity mismatch problems need to be resolved by strengthening market mechanism. And a form of flexible inflation targeting is seen as a proper choice for coordinating conflicting objectives within a time consistent framework for securing suitable environment for financial market development.
Book Synopsis Monetary Policy in a Changing Financial Environment by : Chiho Kim
Download or read book Monetary Policy in a Changing Financial Environment written by Chiho Kim and published by . This book was released on 1997 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1498324029 Total Pages :109 pages Book Rating :4.4/5 (983 download)
Book Synopsis Global Financial Stability Report, October 2019 by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Global Financial Stability Report, October 2019 written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2019-10-16 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: The October 2019 Global Financial Stability Report (GFSR) identifies the current key vulnerabilities in the global financial system as the rise in corporate debt burdens, increasing holdings of riskier and more illiquid assets by institutional investors, and growing reliance on external borrowing by emerging and frontier market economies. The report proposes that policymakers mitigate these risks through stricter supervisory and macroprudential oversight of firms, strengthened oversight and disclosure for institutional investors, and the implementation of prudent sovereign debt management practices and frameworks for emerging and frontier market economies.
Book Synopsis Republic of Korea by : International Monetary Fund
Download or read book Republic of Korea written by International Monetary Fund and published by . This book was released on 2011-08-04 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Korea’s rapid recovery from the global downturn has transitioned into a full-fledged expansion. Policies to strengthen the resilience of the economy and pave the way for sustained and equitable growth is required. Greater two-way flexibility of the exchange rate is needed to support the monetary policy response to inflation and help alleviate capital inflow pressures. Enhancing the overall macroeconomic and financial policy framework will bolster the resilience of the economy to shocks. Housing policies in the macrofinancial framework will contain leverage and prevent asset price bubbles.
Book Synopsis Dealing with the Challenges of Macro Financial Linkages in Emerging Markets by : Otaviano Canuto
Download or read book Dealing with the Challenges of Macro Financial Linkages in Emerging Markets written by Otaviano Canuto and published by World Bank Publications. This book was released on 2013-10-29 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with the challenges of macro financial linkages in the emerging markets.
