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The Goal Of Price Stability
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Book Synopsis The Costs and Benefits of Price Stability by : Martin Feldstein
Download or read book The Costs and Benefits of Price Stability written by Martin Feldstein and published by University of Chicago Press. This book was released on 2007-12-01 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, the Federal Reserve and central banks worldwide have enjoyed remarkable success in their battle against inflation. The challenge now confronting the Fed and its counterparts is how to proceed in this newly benign economic environment: Should monetary policy seek to maintain a rate of low-level inflation or eliminate inflation altogether in an effort to attain full price stability? In a seminal article published in 1997, Martin Feldstein developed a framework for calculating the gains in economic welfare that might result from a move from a low level of inflation to full price stability. The present volume extends that analysis, focusing on the likely costs and benefits of achieving price stability not only in the United States, but in Germany, Spain, and the United Kingdom as well. The results show that even small changes in already low inflation rates can have a substantial impact on the economic performance of different countries, and that variations in national tax rules can affect the level of gain from disinflation.
Book Synopsis The Goal of Price Stability by : Jack G. Selody
Download or read book The Goal of Price Stability written by Jack G. Selody and published by . This book was released on 1990 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Full Employment and Price Stability in a Global Economy by : Paul Davidson
Download or read book Full Employment and Price Stability in a Global Economy written by Paul Davidson and published by Edward Elgar Publishing. This book was released on 1999 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic performance of many countries deteriorated significantly in the 1990s. This book offers policy prescriptions from the post-Keynesian perspective aimed at achieving full employment without inflation. It examines issues such as speculation, financial markets, and the Euro and its role.
Book Synopsis Zero Inflation by : Richard G. Lipsey
Download or read book Zero Inflation written by Richard G. Lipsey and published by . This book was released on 1990 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Policy and Price Stability by : Marc Labonte
Download or read book Monetary Policy and Price Stability written by Marc Labonte and published by Nova Publishers. This book was released on 2006 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: A book about monetary policy that can be defined broadly as any policy relating to the supply of money. It looks at five economies that have adopted a price stability goal: New Zealand, Canada, the United Kingdom, Sweden, and the Euro area. It concludes with a brief analysis of the record of inflation targeting in the developing world.
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 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 Finance & Development, December 1996 by : International Monetary Fund. External Relations Dept.
Download or read book Finance & Development, December 1996 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 1996-01-01 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.
Book Synopsis Understanding Modern Money by : L. Randall Wray
Download or read book Understanding Modern Money written by L. Randall Wray and published by Edward Elgar Publishing. This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Understanding Modern Money' exposes flaws in the foundations of mainstream macroeconomics and suggests a better way to formulate policy that will benefit everyone living in capitalistic societies.
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 Reducing Inflation by : Christina D. Romer
Download or read book Reducing Inflation written by Christina D. Romer and published by University of Chicago Press. This book was released on 2007-12-01 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: While there is ample evidence that high inflation is harmful, little is known about how best to reduce inflation or how far it should be reduced. In this volume, sixteen distinguished economists analyze the appropriateness of low inflation as a goal for monetary policy and discuss possible strategies for reducing inflation. Section I discusses the consequences of inflation. These papers analyze inflation's impact on the tax system, labor market flexibility, equilibrium unemployment, and the public's sense of well-being. Section II considers the obstacles facing central bankers in achieving low inflation. These papers study the precision of estimates of equilibrium unemployment, the sources of the high inflation of the 1970s, and the use of non-traditional indicators in policy formation. The papers in section III consider how institutions can be designed to promote successful monetary policy, and the importance of institutions to the performance of policy in the United States, Germany, and other countries. This timely volume should be read by anyone who studies or conducts monetary policy.
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 Zero Inflation by : Richard G. Lipsey
Download or read book Zero Inflation written by Richard G. Lipsey and published by . This book was released on with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Objectives of Macro-Economic Policy by : Ajit K. Dasgupta
Download or read book The Objectives of Macro-Economic Policy written by Ajit K. Dasgupta and published by Springer. This book was released on 1971-06-18 with total page 529 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis European Monetary Policy. Focusing on the Aim of Price Stability by : Michael Frei
Download or read book European Monetary Policy. Focusing on the Aim of Price Stability written by Michael Frei and published by GRIN Verlag. This book was released on 2013-07-31 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2009 in the subject Politics - International Politics - Topic: International Organisations, grade: 5 von 5, Free University of Bozen-Bolzano (School of Economics and Management), language: English, abstract: One of the most important objectives of the European Central Bank is the decision on its single Monetary Policy. The European Central Bank is the sole issuer of banknotes and bank reserves therefore the monopoly provider of the monetary base of an economy. This makes this institution the only one which has the needed instruments to make monetary policy. The ECB determined “price stability” as main intention of its policy because there is a contemporary consensus that inflation slashes the performance of economies strongly. The aim of this paper is to analyze why and how successful the European Central Bank has several instruments to achieve this important goal. The aim of this paper is to discuss the main goal of the European Monetary Policy and to analyze the instruments which can be used to maintain this goal. Finishing with a short evaluation about how successful the European Monetary Policy is.
Book Synopsis Achieving Price Stability by : Alan Greenspan
Download or read book Achieving Price Stability written by Alan Greenspan and published by . This book was released on 2001-09-01 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central banks throughout the world have come to recognize the importance of price stability to the long-run health and prosperity of their economies. While countries and their central banks are embracing price stability as a primary long-term goal for monetary policy, they are adopting a variety of strategies to achieve it. Some banks, for example, have adopted explicit inflation targets. In other cases, institutional structures such as currency boards and monetary union have been suggested as vehicles for achieving and maintaining price stability.To gain a better understanding of how central banks can best reduce inflation and what policies and operating procedures should be implemented to maintain price stability, the Federal Reserve Bank of Kansas City sponsored a symposium entitled "Achieving Price Stability," held at Jackson Hole, Wyoming, on August 29-31, 1996. A distinguished group of central bankers, academics, and financial market representatives shared their views and research results on this important monetary policy issue.The papers, commentary, and discussions at the symposium were substantive and informative. We hope these proceedings will contribute to a better understanding of how central banks can best achieve and maintain price stability. As recognized by all conference participants, price stability is monetary policys major contribution toward maximizing long-run economic growth and, ultimately, raising standards of living.The opening remarks are by Alan Greenspan, Chairman of the Board of Governors of the Federal Reserve System.
Book Synopsis The Paths to Price Stability by : Michelle Beyeler
Download or read book The Paths to Price Stability written by Michelle Beyeler and published by Haupt Verlag AG. This book was released on 2007 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt:
