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Targeting Discretion Model
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Book Synopsis Targeting Discretion Model by : Casey LaFrance
Download or read book Targeting Discretion Model written by Casey LaFrance and published by . This book was released on 2016-05-15 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: The topic of police discretion has long intrigued members of the academic community and law-enforcement practitioners. This scholarly yet practical study is an attempt to create conversations between these two groups. It presents a model designed to link theory and practice in order to advance collective understanding of the factors that contribute to discretionary decision making.
Book Synopsis The Inflation-Targeting Debate by : Ben S. Bernanke
Download or read book The Inflation-Targeting Debate written by Ben S. Bernanke and published by University of Chicago Press. This book was released on 2007-11-01 with total page 469 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past fifteen years, a significant number of industrialized and middle-income countries have adopted inflation targeting as a framework for monetary policymaking. As the name suggests, in such inflation-targeting regimes, the central bank is responsible for achieving a publicly announced target for the inflation rate. While the objective of controlling inflation enjoys wide support among both academic experts and policymakers, and while the countries that have followed this model have generally experienced good macroeconomic outcomes, many important questions about inflation targeting remain. In Inflation Targeting, a distinguished group of contributors explores the many underexamined dimensions of inflation targeting—its potential, its successes, and its limitations—from both a theoretical and an empirical standpoint, and for both developed and emerging economies. The volume opens with a discussion of the optimal formulation of inflation-targeting policy and continues with a debate about the desirability of such a model for the United States. The concluding chapters discuss the special problems of inflation targeting in emerging markets, including the Czech Republic, Poland, and Hungary.
Book Synopsis Monetary Policy Rules by : John B. Taylor
Download or read book Monetary Policy Rules written by John B. Taylor and published by University of Chicago Press. This book was released on 2007-12-01 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely volume presents the latest thinking on the monetary policy rules and seeks to determine just what types of rules and policy guidelines function best. A unique cooperative research effort that allowed contributors to evaluate different policy rules using their own specific approaches, this collection presents their striking findings on the potential response of interest rates to an array of variables, including alterations in the rates of inflation, unemployment, and exchange. Monetary Policy Rules illustrates that simple policy rules are more robust and more efficient than complex rules with multiple variables. A state-of-the-art appraisal of the fundamental issues facing the Federal Reserve Board and other central banks, Monetary Policy Rules is essential reading for economic analysts and policymakers alike.
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.
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.
Author :American Bar Association. House of Delegates Publisher :American Bar Association ISBN 13 :9781590318737 Total Pages :216 pages Book Rating :4.3/5 (187 download)
Book Synopsis Model Rules of Professional Conduct by : American Bar Association. House of Delegates
Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Book Synopsis Knights, Raiders, and Targets by : John C. Coffee Jr.
Download or read book Knights, Raiders, and Targets written by John C. Coffee Jr. and published by Oxford University Press. This book was released on 1988-06-23 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fascinating as the corporate takeovers of recent years have been--with their "golden parachutes" and junk bonds, "greenmailers" and white knights--it is far from clear what underlying forces are at work, and what their long-term consequences will be. Debate over these questions has become polarized: some see takeover threats as disciplinary mechanisms that induce managers to behave efficiently and move assets to higher valued uses or into the hands of more efficient managers; others claim that corporate raiders have produced few observable increases in operating efficiency, but rather have disrupted business planning, enforced a preoccupation with the short-term, and tilted the balance sheets of corporate America towards dangerously high debt levels. Such sharp conflicts in theory and evidence have produced considerable governmental confusion concerning the appropriate policy response. Scores of bills have been introduced in Congress, but legislators are no more in agreement than scholars. Knights, Raiders, and Targets represents one of the first sustained efforts to refine and clarify these issues. Based on papers presented at a symposium sponsored by the Columbia Law School's Center for Law and Economic Studies, it also includes discussion of the informal presentations made at the symposium by the CEOs of several major corporations. This important book airs new theories and offers vital and exciting discussion of the essential issues attached to an event that has become central to American corporate culture.
Book Synopsis Strategies for Monetary Policy by : John H. Cochrane
Download or read book Strategies for Monetary Policy written by John H. Cochrane and published by Hoover Press. This book was released on 2020-05-01 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the Federal Reserve System conducts its latest review of the strategies, tools, and communication practices it deploys to pursue its dual-mandate goals of maximum employment and price stability, Strategies for Monetary Policy—drawn from the 2019 Monetary Policy Conference at the Hoover Institution—emerges as an especially timely volume. The book's expert contributors examine key policy issues, offering their perspectives on US monetary policy tools and instruments and the interaction between Fed policies and financial markets. The contributors review central bank inflation-targeting policies, how various monetary strategies actually work in practice, and the use of nominal GDP targeting as a way to get the credit market to work well and fix the friction in that market. In addition, they discuss the effects of the various rules that the Fed considers in setting policy, how the Fed's excessive fine-tuning of the economy and financial markets has added financial market volatility and harmed economic performance, and the key issues that impact achievement of the Fed's 2 percent inflation objective. The volume concludes by exploring potential options for enhancing our policy approach.
Book Synopsis Inflation Targeting by : Ben S. Bernanke
Download or read book Inflation Targeting written by Ben S. Bernanke and published by Princeton University Press. This book was released on 2018-06-05 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: How should governments and central banks use monetary policy to create a healthy economy? Traditionally, policymakers have used such strategies as controlling the growth of the money supply or pegging the exchange rate to a stable currency. In recent years a promising new approach has emerged: publicly announcing and pursuing specific targets for the rate of inflation. This book is the first in-depth study of inflation targeting. Combining penetrating theoretical analysis with detailed empirical studies of countries where inflation targeting has been adopted, the authors show that the strategy has clear advantages over traditional policies. They argue that the U.S. Federal Reserve and the European Central Bank should adopt this strategy, and they make specific proposals for doing so. The book begins by explaining the unique features and advantages of inflation targeting. The authors argue that the simplicity and openness of inflation targeting make it far easier for the public to understand the intent and effects of monetary policy. This strategy also increases policymakers' accountability for inflation performance and can accommodate flexible, even "discretionary," monetary policy actions without sacrificing central banks' credibility. The authors examine how well variants of this approach have worked in nine countries: Germany and Switzerland (which employ a money-focused form of inflation targeting), New Zealand, Canada, the United Kingdom, Sweden, Israel, Spain, and Australia. They show that these countries have typically seen lower inflation, lower inflation expectations, and lower nominal interest rates, and have found that one-time shocks to the price level have less of a "pass-through" effect on inflation. These effects, in turn, are improving the climate for economic growth. The authors warn, however, that the success of inflation targeting depends on operational details, such as how the targets are defined and when they are announced. They also show that inflation targeting is not a panacea that can make inflation perfectly predictable or reduce it without economic costs. Clear, balanced, and authoritative, Inflation Targeting is a groundbreaking study that will have a major impact on the debate over the right monetary strategy for the coming decades. As a unique comparative study of what central banks actually do in different countries around the world, this book will also be invaluable to anyone interested in how economic policy is made.
Book Synopsis International Convergence of Capital Measurement and Capital Standards by :
Download or read book International Convergence of Capital Measurement and Capital Standards written by and published by Lulu.com. This book was released on 2004 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1451943555 Total Pages :212 pages Book Rating :4.4/5 (519 download)
Book Synopsis Staff Studies for the World Economic Outlook by : International Monetary Fund
Download or read book Staff Studies for the World Economic Outlook written by International Monetary Fund and published by International Monetary Fund. This book was released on 1986-01-01 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews recent analytical and empirical research on the determination of employment, to provide a framework for evaluating the merits of alternative policies to cope with unemployment. Particular emphasis is placed on the mechanisms of employment and wage determination described in recent studies. The lack of any systematic relationship between countries' long-run growth and employment performances reflects the fact that output per person employed (labor productivity) or, conversely, the labor intensity of production, has developed quite differently across countries. The main mechanism through which the rise in real wages has prevented greater employment gains in Europe over the past ten to fifteen years seems to have been a substitution of capital for labor which has lowered the labor intensity of production significantly more than in the United States. There are a number of important caveats with respect to the apparent relationship between differences in employment and labor cost developments across countries.
Book Synopsis Can They Do That? by : Melba Pearson
Download or read book Can They Do That? written by Melba Pearson and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book is for lawyer and nonlawyer alike-anyone who is interested in how the criminal justice system works. If you are reading this as a new prosecutor, you can see where others went wrong as well as what options are available to you. The most important goal of this book is for the voters to see the what the criminal justice system really looks like"--
Book Synopsis Professional Discretion in Welfare Services by : Tony Evans
Download or read book Professional Discretion in Welfare Services written by Tony Evans and published by Routledge. This book was released on 2016-04-15 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discretion has re-emerged as an issue of central importance for welfare professionals over the last two decades in the face of an intensification of management culture across the public sector. This book presents an innovative framework for the analysis of discretion, offering three accounts of the managerial role - the domination model, the street level model and the author's alternative discursive perspective. These different regimes of discretion are examined through a case study within a social services department, comparing and contrasting social work discretion in an Older Persons Team and a Mental Health Team. This innovative, theoretical and empirical analysis will be of great interest to postgraduate students and researchers in social work and related disciplines including social policy, public administration and organizational studies, as well as professionals in social work, health and education.
Book Synopsis Inflation Targeting by : Mr.J. H. Green
Download or read book Inflation Targeting written by Mr.J. H. Green and published by International Monetary Fund. This book was released on 1996-06-01 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: As with many monetary policy frameworks, inflation targeting is subject to the well-known problem of inflation bias. With inflation targeting, however, the bias becomes apparent not as inflation above desired levels, but as a wedge between the announced target and observed inflation. This inconsistency could render the framework neither credible nor enforceable since the target is overshot on average. The problem can be addressed by assigning price stability as the single policy objective or by assigning a joint target for both inflation and output, provided that they are consistent. Many inflation targeting countries take the joint target approach implicitly through transparency measures which publicly assess monetary conditions in terms of potential output and output gaps.
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 Temporal Investigations Into the Relationship Between Affect and Discretionary Work Behavior by : Howard M. Weiss
Download or read book Temporal Investigations Into the Relationship Between Affect and Discretionary Work Behavior written by Howard M. Weiss and published by . This book was released on 2009 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: After a long hiatus, mood and emotions (collectively known as affect) are enjoying a strong resurgence in many areas of psychology. Vis-a-is the workplace, Affective Events Theory predicts that stochastic workplace events influence workplace affect, which in turn influences various workplace behaviors relevant to job performance. Moreover, like the events and affect that precede them, these behaviors are highly volatile within persons over time. The present set of research projects were designed to test, and extend, Affective Events Theory. The research focuses on the contextual or discretionary aspects of job performance--namely, organizational citizenship behavior and counterproductive (deviant) work behavior. These behaviors, typically studied at the between-person level, were shown in the present research to be highly volatile within persons over time and reliably related to affect. Moreover, within persons, citizenship and counterproductive behavior were themselves virtually unrelated. Finally, experiencing a common form of counterproductive behavior was associated with enacting similar behavior as well as other forms of counterproductive behavior. The results are relevant to the Army's continued search for the good Soldier: one who engages in citizenship behavior and refrains from counterproductive/deviant behavior.
Book Synopsis Managerial Discretion and Performance in China by : Hagen Wülferth
Download or read book Managerial Discretion and Performance in China written by Hagen Wülferth and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 557 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theoretical and empirical literature to date has fallen short of reaching a consensus as to whether granting more managerial discretion to managers tends to enhance, not alter or diminish organizational performance (the discretion puzzle). This book aims to build a bridge between these contradictory results by synthesising principal-agent theory, stewardship theory, and managerial discretion theory into a new empirically-validated model. Using a representative sample of 'double-blind' interviews with managers of 467 firms in China and applying partial least squares path modelling (PLS), the study identifies a potential cause of the discretion puzzle: the failure of the extant literature to account for granularity in the way that managers use their discretion. This generates far-reaching implications for theoretical and empirical research as well as practical recommendations for managing managers in multinationals and Chinese companies.
