International Dimensions of Monetary Policy

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Publisher : University of Chicago Press
ISBN 13 : 0226278875
Total Pages : 663 pages
Book Rating : 4.2/5 (262 download)

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Book Synopsis International Dimensions of Monetary Policy by : Jordi Galí

Download or read book International Dimensions of Monetary Policy written by Jordi Galí and published by University of Chicago Press. This book was released on 2010-03-15 with total page 663 pages. Available in PDF, EPUB and Kindle. Book excerpt: United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous shocks. Such an assumption is increasingly unrealistic in the age of integrated capital markets, tightened links between national economies, and reduced trading costs. International Dimensions of Monetary Policy brings together fresh research to address the repercussions of the continuing evolution toward globalization for the conduct of monetary policy. In this comprehensive book, the authors examine the real and potential effects of increased openness and exposure to international economic dynamics from a variety of perspectives. Their findings reveal that central banks continue to influence decisively domestic economic outcomes—even inflation—suggesting that international factors may have a limited role in national performance. International Dimensions of Monetary Policy will lead the way in analyzing monetary policy measures in complex economies.

The Global Dimension of Inflation

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Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The Global Dimension of Inflation by : Sandra Eickmeier

Download or read book The Global Dimension of Inflation written by Sandra Eickmeier and published by . This book was released on 2016 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the global dimension of inflation in 24 OECD countries between 1980 and 2007 in a traditional Phillips curve framework. We decompose output gaps and changes in unit labor costs into common (or global) and idiosyncratic components using a factor analysis and introduce these components separately in the regression. Unlike previous studies, we allow global forces to affect inflation through (the common part of) domestic demand and supply conditions. Our most important result is that the common component of changes in unit labor costs notably affects inflation. We also find evidence that movements in import price inflation have small effects on CPI inflation while the impact of movements in the common component of the output gap is unclear. A counterfactual experiment illustrates that the common component of unit labor cost changes and non-commodity import price inflation have held down overall inflation in many countries in recent years. Our results imply that monetary policy makers need to carefully monitor global forces when assessing and predicting inflation. In analogy to the Phillips curves, we estimate monetary policy rules with common and idiosyncratic components of inflation and the output gap included separately. Central banks have indeed reacted to the global components.

The Global Dimension of Economic Evolution

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Publisher : Springer Science & Business Media
ISBN 13 : 3642488706
Total Pages : 162 pages
Book Rating : 4.6/5 (424 download)

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Book Synopsis The Global Dimension of Economic Evolution by : Kurt Dopfer

Download or read book The Global Dimension of Economic Evolution written by Kurt Dopfer and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume on evolutionary approaches to economic development and growth is a member of a family of special volumes that Springer has published on Evolu tionary Economics recently. The present volume has excellent predecessors. There is a special volume on "Evolution in Markets and Institutions", edited by Ulrich Witt, and another on "Evolutionary and Neoclassical Perspectives on Market Structure and Economic Growth", edited by Yannis Katsoulacos. And there are more in the pipeline. The volumes already published reflect the broad ranging interests of evolu tionary economists, and within the scope delineated they are devoted to major research areas of the discipline. The editorial intention behind the venture of special volumes has been to bundle together some of the research areas in order to sharpen the problem focus and to generate research synergies within major research fields. We may, somewhat obviously, define a research field by its research topics. For the present purpose however, we may wish to conceive the research conducted by evolutionary economists as belonging to either a research area that is inspired in its problem perspective by neoclassical economics or to one that is not. The very success of the critique of the neoclassical paradigm relied on a preoccupation with its research scope and questions. Evolutionary econom ics has scored marvelously in challenging major neoclassical stands, and neoclassical economics may never be quite the same in the future.

The Global Dimension of Inflation

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Publisher :
ISBN 13 :
Total Pages : 45 pages
Book Rating : 4.:/5 (411 download)

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Book Synopsis The Global Dimension of Inflation by : Sandra Eickmeier

Download or read book The Global Dimension of Inflation written by Sandra Eickmeier and published by . This book was released on 2008 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Globalization: A Very Short Introduction

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Publisher : Oxford University Press
ISBN 13 : 0192589326
Total Pages : 185 pages
Book Rating : 4.1/5 (925 download)

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Book Synopsis Globalization: A Very Short Introduction by : Manfred B. Steger

Download or read book Globalization: A Very Short Introduction written by Manfred B. Steger and published by Oxford University Press. This book was released on 2020-05-28 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: We live today in an interconnected world in which ordinary people can became instant online celebrities to fans thousands of miles away, in which religious leaders can influence millions globally, in which humans are altering the climate and environment, and in which complex social forces intersect across continents. This is globalization. In the fifth edition of his bestselling Very Short Introduction Manfred B. Steger considers the major dimensions of globalization: economic, political, cultural, ideological, and ecological. He looks at its causes and effects, and engages with the hotly contested question of whether globalization is, ultimately, a good or a bad thing. From climate change to the Ebola virus, Donald Trump to Twitter, trade wars to China's growing global profile, Steger explores today's unprecedented levels of planetary integration as well as the recent challenges posed by resurgent national populism. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.

Global Dimensions

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Publisher : Reaktion Books
ISBN 13 : 9781861891020
Total Pages : 202 pages
Book Rating : 4.8/5 (91 download)

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Book Synopsis Global Dimensions by : John R. Short

Download or read book Global Dimensions written by John R. Short and published by Reaktion Books. This book was released on 2001 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: John Rennie Short disagrees with the common, negative stereotype of globalization, arguing that the world today actually thrives on local differences and that a global polity tends to reinforce, not repress, the power of individual nation-states.

The Global Dimension of Inflation - Evidence from Factor-Augmented Phillips Curves

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis The Global Dimension of Inflation - Evidence from Factor-Augmented Phillips Curves by : Sandra Eickmeier

Download or read book The Global Dimension of Inflation - Evidence from Factor-Augmented Phillips Curves written by Sandra Eickmeier and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the global dimension of inflation in 24 OECD countries between 1980 and 2007 in a Phillips curve framework. We decompose output gaps and changes in unit labour costs into common (or global) and idiosyncratic components using a factor analysis and introduce these components separately in the regression. We find that the common component of changes in unit labour costs has a notable impact on inflation. Movements in import price inflation (not driven by oil supply) and foreign competition and global interest rate developments also affect inflation. Policy makers need to carefully observe those variables when assessing inflation developments.

Inflation in Emerging and Developing Economies

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Publisher : World Bank Publications
ISBN 13 : 1464813760
Total Pages : 524 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Inflation in Emerging and Developing Economies by : Jongrim Ha

Download or read book Inflation in Emerging and Developing Economies written by Jongrim Ha and published by World Bank Publications. This book was released on 2019-02-24 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and monetary policy related challenges in LICs. The report documents three major findings: In First, EMDE disinflation over the past four decades was to a significant degree a result of favorable external developments, pointing to the risk of rising EMDE inflation if global inflation were to increase. In particular, the decline in EMDE inflation has been supported by broad-based global disinflation amid rapid international trade and financial integration and the disruption caused by the global financial crisis. While domestic factors continue to be the main drivers of short-term movements in EMDE inflation, the role of global factors has risen by one-half between the 1970s and the 2000s. On average, global shocks, especially oil price swings and global demand shocks have accounted for more than one-quarter of domestic inflation variatio--and more in countries with stronger global linkages and greater reliance on commodity imports. In LICs, global food and energy price shocks accounted for another 12 percent of core inflation variatio--half more than in advanced economies and one-fifth more than in non-LIC EMDEs. Second, inflation expectations continue to be less well-anchored in EMDEs than in advanced economies, although a move to inflation targeting and better fiscal frameworks has helped strengthen monetary policy credibility. Lower monetary policy credibility and exchange rate flexibility have also been associated with higher pass-through of exchange rate shocks into domestic inflation in the event of global shocks, which have accounted for half of EMDE exchange rate variation. Third, in part because of poorly anchored inflation expectations, the transmission of global commodity price shocks to domestic LIC inflation (combined with unintended consequences of other government policies) can have material implications for poverty: the global food price spikes in 2010-11 tipped roughly 8 million people into poverty.

Inflation Expectations

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Publisher : Routledge
ISBN 13 : 1135179778
Total Pages : 402 pages
Book Rating : 4.1/5 (351 download)

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Book Synopsis Inflation Expectations by : Peter J. N. Sinclair

Download or read book Inflation Expectations written by Peter J. N. Sinclair and published by Routledge. This book was released on 2009-12-16 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.

Agenda

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Publisher :
ISBN 13 :
Total Pages : 260 pages
Book Rating : 4.3/5 (129 download)

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Book Synopsis Agenda by :

Download or read book Agenda written by and published by . This book was released on 1978 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Floating Exchange Rates and World Inflation

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Publisher : Springer
ISBN 13 : 1349174742
Total Pages : 270 pages
Book Rating : 4.3/5 (491 download)

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Book Synopsis Floating Exchange Rates and World Inflation by : J. Ahmad

Download or read book Floating Exchange Rates and World Inflation written by J. Ahmad and published by Springer. This book was released on 1984-06-28 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Economic Policy: Theory and Practice

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Publisher : Oxford University Press
ISBN 13 : 019091212X
Total Pages : 705 pages
Book Rating : 4.1/5 (99 download)

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Book Synopsis Economic Policy: Theory and Practice by : Agnes Benassy-Quere

Download or read book Economic Policy: Theory and Practice written by Agnes Benassy-Quere and published by Oxford University Press. This book was released on 2018-11-07 with total page 705 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Policy provides a unique combination of facts-based analysis, state-of-the art economic theory, and insights from first-hand policy experience at the national and international levels to shed light on current domestic and international policy challenges. It is ideally suited for students, practitioners, and scholars seeking understanding both of the pragmatic constraints of real-world policy making and the analytical tools that enhance inquiry and inform debates. The authors draw on their experiences as academics and as policy makers in European and international institutions to offer a deep dive into the rationale, design, and implementation of economic policy across a range of policy domains: fiscal policy, monetary policy, international finance, financial stability, taxes, long-term growth and inequality. Highlighting the ways experience, theories, and institutions interact, each chapter starts with historical examples of dilemmas and shows how theoretical approaches can help policy makers understand what is at stake and identify solutions. The authors highlight the differences between the positive approach to economic policy (how do policies impact the economy), the normative approach (what should be policymakers' objectives and against which criteria should their action be judged), and the political-economy constraints (what are the limits and obstacles to public intervention). They rely on the most recent academic research, providing technical boxes while explaining the mechanisms in plain English in the text, with appropriate illustrations. This new edition is informed by such important recent developments as the Great Recession, the strains on the European Union and the Euro, the challenges of public and private debt, the successes and setbacks to emerging markets, changes to labor markets along with the increased attention to inequality, the debates on secular stagnation and its implications for conventional and unconventional monetary policy, the re-regulation of the financial sector, the debt overhang in both the public and the private sector.

Global Dimensions of Public Administration and Governance

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Publisher : John Wiley & Sons
ISBN 13 : 1119026199
Total Pages : 576 pages
Book Rating : 4.1/5 (19 download)

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Book Synopsis Global Dimensions of Public Administration and Governance by : Jos Raadschelders

Download or read book Global Dimensions of Public Administration and Governance written by Jos Raadschelders and published by John Wiley & Sons. This book was released on 2015-02-16 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global Dimensions of Public Administration is a comprehensive, interdisciplinary approach that draws on knowledge sources across the social sciences. It provides a global, historical, and theoretical examination of the management and governance of the modern state with an emphasis on the structure, function, policies and reforms of over 30 countries. Readers will gain an understanding of the relationship between structure (territory, bureaucracy, political system) and function (policy and reforms) of government in its political and societal contexts. The authors' comparative approach features rich examples of how policy is culture-dependent and how the principles of modern bureaucracy are filtered to fit a nation's needs and expectations. Each chapter ends with comparative conclusions. Mid-career public sector professionals in executive education programs will better-understand the role and position of government in the contemporary world, not only in democratic societies, but also in less democratic environments.

We Need to Talk about Inflation

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Publisher : Yale University Press
ISBN 13 : 030027047X
Total Pages : 233 pages
Book Rating : 4.3/5 (2 download)

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Book Synopsis We Need to Talk about Inflation by : Stephen D. King

Download or read book We Need to Talk about Inflation written by Stephen D. King and published by Yale University Press. This book was released on 2023-01-01 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: A FINANCIAL TIMES "BOOK TO READ IN 2023" "Everything you wanted to know about inflation but were afraid to ask."--Mervyn King "King's lessons command our attention."--Lawrence H. Summers "Maybe you don't think inflation is back for good. That is your right. But you'd be advised to read this book first."--Stephanie Flanders From investors and monetary authorities to governments and policy makers, almost everyone had assumed inflation was dead and buried. But now people the world over are confronting a poisonous new economic reality and, with it, the prospect of vast and increasing wealth inequality. How have we arrived in this situation? And what, if anything, can we do about it? Celebrated economist Stephen D. King--one of the few to warn ahead of time about the latest inflationary upheaval--identifies key lessons from the history of inflation that policy makers chose not to heed. From ancient Rome through the American Civil War and up to the asset bubbles of today, inflation stems from policy error, sovereign greed, and a collective loss of faith in currencies. We Need to Talk About Inflation cuts through centuries of bad judgment and misunderstanding, offering a means to intervene now--so we can begin to tackle the political and social upheaval unleashed by inflation.

The Distributional Implications of the Impact of Fuel Price Increases on Inflation

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1616356154
Total Pages : 34 pages
Book Rating : 4.6/5 (163 download)

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Book Synopsis The Distributional Implications of the Impact of Fuel Price Increases on Inflation by : Mr. Kangni R Kpodar

Download or read book The Distributional Implications of the Impact of Fuel Price Increases on Inflation written by Mr. Kangni R Kpodar and published by International Monetary Fund. This book was released on 2021-11-12 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.

Global Dimensions of Democracy and Human Rights: Problems and Perspectives

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Publisher : IGI Global
ISBN 13 : 166844545X
Total Pages : 363 pages
Book Rating : 4.6/5 (684 download)

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Book Synopsis Global Dimensions of Democracy and Human Rights: Problems and Perspectives by : Chitadze, Nika

Download or read book Global Dimensions of Democracy and Human Rights: Problems and Perspectives written by Chitadze, Nika and published by IGI Global. This book was released on 2022-05-27 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: Democracy and human rights are key focuses in today’s world as countries across the globe attempt to address significant problems within their territories, such as illiteracy, discrimination, and gender inequality, in order to develop and evolve. To ensure countries address these critical human rights issues, further study is required to understand and identify potential causes and solutions. Global Dimensions of Democracy and Human Rights: Problems and Perspectives considers the main principles of democracy and human rights, including the analysis of personal, political, economic, social, legal, ethnic, and religious freedoms as well as the importance of democracy enlargement for the establishment of peace and stability in the world. The book also discusses the main obstacles of democracy and human rights protection and what should be done globally to prevent and resolve these issues to achieve tolerance and equity in the world. Covering topics such as civil rights, global development, and digital technologies, this reference work is ideal for political scientists, activists, policymakers, government officials, industry professionals, researchers, scholars, practitioners, academicians, instructors, and students.

Brookings Papers on Economic Activity: Fall 2019

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Publisher : Brookings Institution Press
ISBN 13 : 0815738293
Total Pages : 541 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis Brookings Papers on Economic Activity: Fall 2019 by : Janice Eberly

Download or read book Brookings Papers on Economic Activity: Fall 2019 written by Janice Eberly and published by Brookings Institution Press. This book was released on 2020-08-25 with total page 541 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brookings Papers on Economic Activity (BPEA) provides academic and business economists, government officials, and members of the financial and business communities with timely research on current economic issues. Contents: All Medicaid Expansions Are Not Created Equal: The Geography and Targeting of the Affordable Care Act Craig Garthwaite, John Graves, Tal Gross, Zeynal Karaca, Victoria Marone, and Matthew J. Notowidigdo Policies and Payoffs to Addressing America’s College Graduation Deficit Christopher Avery, Jessica Howell, Matea Pender, and Bruce Sacerdote The Optimal Inflation Target and the Natural Rate of Interest Philippe Andrade, Jordi Galí, Hervé Le Bihan, and Julien Matheron Inflation Dynamics: Dead, Dormant, or Determined Abroad? Kristen J. Forbes Macri’s Macro: The Elusive Road to Stability and Growth Federico Sturzenegger Progressive Wealth Taxation Emmanuel Saez and Gabriel Zucman