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Confidence Credibility And Macroeconomic Policy
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Book Synopsis Confidence, Credibility and Macroeconomic Policy by : Richard Burdekin
Download or read book Confidence, Credibility and Macroeconomic Policy written by Richard Burdekin and published by Routledge. This book was released on 2003-09-02 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: The results of macroeconomic policy are often unpredictable. One of the major reasons for this is the importance of confidence and expectations in economic affairs. Confidence, Credibility and Macroeconomic Policy explores this interaction between confidence and expectations, and the credibility of the government's financial policies. The volume is divided into three parts. * An overview of the inter-relationship between fiscal policy, credibility and inflation * Empirical research on the importance of public confidence and expectations to the success of fiscal and monetary policy. * The definition and functions of consumer confidence as it is measured today. Confidence, Credibility and Macroeconomic Policy will be an invaluable guide for all those interested in macroeconomic policy.
Book Synopsis Economy of Words by : Douglas R. Holmes
Download or read book Economy of Words written by Douglas R. Holmes and published by University of Chicago Press. This book was released on 2013-12-09 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: Markets are artifacts of language—so Douglas R. Holmes argues in this deeply researched look at central banks and the people who run them. Working at the intersection of anthropology, linguistics, and economics, he shows how central bankers have been engaging in communicative experiments that predate the financial crisis and continue to be refined amid its unfolding turmoil—experiments that do not merely describe the economy, but actually create its distinctive features. Holmes examines the New York District Branch of the Federal Reserve, the European Central Bank, Deutsche Bundesbank, and the Bank of England, among others, and shows how officials there have created a new monetary regime that relies on collaboration with the public to achieve the ends of monetary policy. Central bankers, Holmes argues, have shifted the conceptual anchor of monetary affairs away from standards such as gold or fixed exchange rates and toward an evolving relationship with the public, one rooted in sentiments and expectations. Going behind closed doors to reveal the intellectual world of central banks,Economy of Words offers provocative new insights into the way our economic circumstances are conceptualized and ultimately managed.
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.
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 Macroeconomic Policy by : Farrokh Langdana
Download or read book Macroeconomic Policy written by Farrokh Langdana and published by Springer Science & Business Media. This book was released on 2009-04-05 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an applications-oriented text that demystifies the linkages between monetary and fiscal policies and key macroeconomic variables such as income, unemployment, inflation and interest rates. Specially written "newspaper" articles simulate current macroeconomic news on asset-price bubbles, exchange rates, hyperinflation and more. Exercises and diagrams, and a global perspective – incorporating both developed and emerging economies - make this a broadly useful, real-world oriented text on a complex and shifting subject.
Book Synopsis Credibility and Crisis Stress Testing by : Ms.Li L. Ong
Download or read book Credibility and Crisis Stress Testing written by Ms.Li L. Ong and published by International Monetary Fund. This book was released on 2013-08-09 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Credibility is the bedrock of any crisis stress test. The use of stress tests to manage systemic risk was introduced by the U.S. authorities in 2009 in the form of the Supervisory Capital Assessment Program. Since then, supervisory authorities in other jurisdictions have also conducted similar exercises. In some of those cases, the design and implementation of certainelements of the framework have been criticized for their lack of credibility. This paper proposes a set of guidelines for constructing an effective crisis stress test. It combines financial markets impact studies of previous exercises with relevant case study information gleaned from those experiences to identify the key elements and to formulate their appropriate design. Pertinent concepts, issues and nuances particular to crisis stress testing are also discussed. The findings may be useful for country authorities seeking to include stress tests in their crisis management arsenal, as well as for the design of crisis programs.
Book Synopsis Financial Developments in National and International Markets by : Jesús Ferreiro
Download or read book Financial Developments in National and International Markets written by Jesús Ferreiro and published by Springer. This book was released on 2005-12-15 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a comprehensive analysis of the problems that the current working of capital markets are generating on both developed and developing economies. It pays special attention to the reasons explaining the unstable and volatile working of international financial markets and to the consequences of that behaviour on both the economic performance of the involved countries and on the economic policies implemented.
Book Synopsis Macroeconomic Policy by : Farrokh K. Langdana
Download or read book Macroeconomic Policy written by Farrokh K. Langdana and published by Springer. This book was released on 2016-08-30 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an applications-oriented text designed for individuals who desire a hands-on approach to analyzing the effects of fiscal and monetary policies. Significantly updated to provide an understanding of the post-financial crisis economy, the third edition covers the subprime crisis in detail, discussing monetary policies enacted in its wake, such as quantitative easing, tapering, carry trades, CMOs, and monetization. Even more globally oriented than previous editions, this volume links the Great Recession and US Monetary Policy to global hot capital flows and currency pegs. This edition also revisits the Eurozone in significant detail; discussing its history, its macroeconomic design challenges, and its present imperiled state, in the context of global macropolicy. Finally, this volume analyzes the "China syndrome" and explores the effects of slower trend growth in China on the rest of the world. India, with its different—almost supply-side—approach to macropolicy is also studied in detail. The third edition contains several brand-new cases and media articles that are carefully positioned to relate explicitly to theory, and to look ahead to and preempt global macro situations and polices in the years to come. MBA students and Executive MBA students who appreciate the importance of monetary and fiscal analysis will find this text to be right on target. Financial analysts and individual investors who need to strip away economic myths and jargon and systematically examine and understand the effects of macro policies on variables such as inflation, output, employment and interest rates, will also find the book extremely useful.
Book Synopsis Central Banks at a Crossroads by : Michael D. Bordo
Download or read book Central Banks at a Crossroads written by Michael D. Bordo and published by Cambridge University Press. This book was released on 2016-06-09 with total page 719 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the role of central banks and draws lessons from examining their evolution over the past two centuries.
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 Rethinking Macro Policy II by : Mr.Olivier J. Blanchard
Download or read book Rethinking Macro Policy II written by Mr.Olivier J. Blanchard and published by International Monetary Fund. This book was released on 2013-04-15 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note explores how the economic thinking about macroeconomic management has evolved since the crisis began. It discusses developments in monetary policy, including unconventional measures; the challenges associated with increased public debt; and the policy potential, risks, and institutional challenges associated with new macroprudential measures. Rationale: The note contributes to the ongoing debate on several aspects of macroeconomic policy. It follows up on the earlier “Rethinking” paper, refining the analysis in light of the events of the past two years. Given the relatively fluid state of the debate (e.g., recent challenges to central bank independence), it is useful to highlight that while many of the tenets of the pre-crisis consensus have been challenged, others (such as the desirability of central bank independence) remain valid.
Book Synopsis The Oxford Handbook of the Sociology of Finance by : Karin Knorr Cetina
Download or read book The Oxford Handbook of the Sociology of Finance written by Karin Knorr Cetina and published by OUP Oxford. This book was released on 2012-11-29 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent years have seen a surge of interest in the workings of financial institutions and financial markets beyond the discipline of economics, which has been accelerated by the financial crisis of the early twenty-first century. The Oxford Handbook of the Sociology of Finance brings together twenty-nine chapters, written by scholars of international repute from Europe, North America, and Asia, to provide comprehensive coverage on a variety of topics related to the role of finance in a globalized world, and its historical development. Topics include global institutions of modern finance, types of actors involved in financial transactions and supporting technologies, mortgage markets, rating agencies, and the role of financial economics. Particular attention is given to financial crises, which are discussed in a special section, as well as to alternative forms of finance, including Islamic finance and the rise of China. The Handbook will be an indispensable tool for academics, researchers, and students of contemporary finance and economic sociology, and will serve as a reference point for the expanding international community of scholars researching these areas from a broadly-defined sociological perspective.
Book Synopsis A History of the Greenbacks by : Wesley Clair Mitchell
Download or read book A History of the Greenbacks written by Wesley Clair Mitchell and published by . This book was released on 1903 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Coordination of Monetary and Fiscal Policies by : International Monetary Fund
Download or read book Coordination of Monetary and Fiscal Policies written by International Monetary Fund and published by International Monetary Fund. This book was released on 1998-03-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.
Book Synopsis Confidence, Credibility and Macroeconomic Policy by : Richard Burdekin
Download or read book Confidence, Credibility and Macroeconomic Policy written by Richard Burdekin and published by . This book was released on 1995 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors explore the interaction between confidence and the credibility of the government's financial policies. It will be an invaluable guide for all those interested in macroeconomic policy.
Book Synopsis Macroeconomics by : Olivier Blanchard
Download or read book Macroeconomics written by Olivier Blanchard and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This print textbook is available for students to rent for their classes. The Pearson print rental program provides students with affordable access to learning materials, so they come to class ready to succeed. For intermediate courses in economics. A unified view of the latest macroeconomic events In Macroeconomics, Blanchard presents an integrated, global view of macroeconomics, enabling students to see the connections between goods markets, financial markets, and labor markets worldwide. Organized into two parts, the text contains a core section that focuses on short-, medium-, and long-run markets and two major extensions that offer more in-depth coverage of the issues at hand. From the major economic crisis that engulfed the world in the late 2000s, to monetary policy in the US, to the problems of the Euro area, and growth in China, the text helps students make sense not only of current macroeconomic events but also of those that may unfold in the future. Integrated, detailed boxes in the 8th Edition have been updated to convey the life of macroeconomics today, reinforce lessons from the models, and help students employ and develop their analytical and evaluative skills. Also available with MyLab Economics By combining trusted author content with digital tools and a flexible platform, MyLab personalizes the learning experience and improves results for each student.
Book Synopsis Global Waves of Debt by : M. Ayhan Kose
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
