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Expectations Formation And The Effectiveness Of Strategies For Limiting The Consequences Of The Zero Bound On Interest Rates
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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.
Book Synopsis Expectations Formation and the Effectiveness of Strategies for Limiting the Consequences of the Zero Bound on Interest Rates by : David Reifschneider
Download or read book Expectations Formation and the Effectiveness of Strategies for Limiting the Consequences of the Zero Bound on Interest Rates written by David Reifschneider and published by . This book was released on 2005 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Central Banking after the Great Recession by : David Wessel
Download or read book Central Banking after the Great Recession written by David Wessel and published by Brookings Institution Press. This book was released on 2014-04-28 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis is largely behind us, but the challenges it poses to the future stability of the world's economic system affects everyone from American families to Main Street businesses to Wall Street financial powerhouses. It has provoked controversy over the best way to reduce the risk of a repeat of what proved to be the worst financial crisis since the Great Depression. To describe those challenges—and the lessons learned—the Hutchins Center on Fiscal and Monetary Policy at Brookings turned to frontline policymakers and some of their most prominent critics. Central Banking after the Great Recession contains the resulting research, leading off with a telling interview between Ben Bernanke, then in his final weeks as Federal Reserve chairman, and Liaquat Ahamed, author of the Pulitzer Prize–winning Lords of Finance. Insightful chapters by John Williams of the San Francisco Federal Reserve Bank, Paul Tucker of Harvard University, and Donald Kohn of Brookings discuss unconventional monetary policy, financial regulation, the impact of the crisis on the independence of the Federal Reserve. Each chapter is followed by a lively debate. Contents 1. Introduction 2. A Conversation with Ben Bernanke 3. Monetary Policy When Rates Hit Zero: Putting Theory into Practice 4. Regulatory Reform: What'a Done? What Isn't? 5. Federal Reserve Independence after the Financial Crisis: Should We Be Worried?
Book Synopsis Monetary Policy Alternatives at the Zero Bound by : Ben S. Bernanke
Download or read book Monetary Policy Alternatives at the Zero Bound written by Ben S. Bernanke and published by www.bnpublishing.com. This book was released on 2009-03 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The success over the years in reducing inflation and, consequently, the average level of nominal interest rates has increased the likelihood that the nominal policy interest rate may become constrained by the zero lower bound. When that happens, a central bank can no longer stimulate aggregate demand by further interest-rate reductions and must rely on "non-standard" policy alternatives. To assess the potential effectiveness of such policies, we analyze the behavior of selected asset prices over short periods surrounding central bank statements or other types of financial or economic news and estimate "noarbitrage" models of the term structure for the United States and Japan. There is some evidence that central bank communications can help to shape public expectations of future policy actions and that asset purchases in large volume by a central bank would be able to affect the price or yield of the targeted asset.
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 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:
Book Synopsis Incompatibility and Investment in ATM Networks by : Timothy H. Hannan
Download or read book Incompatibility and Investment in ATM Networks written by Timothy H. Hannan and published by . This book was released on 2006 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: The literature on network industries and network effects notes that incompatibility across rival systems can influence firms' incentives to invest in product changes that are beneficial to the consumer. We investigate this phenomenon in the case of bank ATM networks, where the number of ATM locations serves as the measure of product quality and surcharge fees serve as an index of incompatibility. Using as a natural experiment the lifting of a surcharge ban in Iowa (and not in neighboring states), we find that the associated increase in incompatibility for Iowa banks caused a substantial increase in the number of ATM locations offered to customers. This effect is found to be larger (in percentage terms) for larger banks than for smaller ones.
Book Synopsis Forecasting Professional Forecasters by : Eric Ghysels
Download or read book Forecasting Professional Forecasters written by Eric Ghysels and published by . This book was released on 2006 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Policy Strategies by : International Monetary Fund
Download or read book Monetary Policy Strategies written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-10-04 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper considers the merits of rules and discretion for monetary policy when the structure of the macroeconomic model and the probability distributions of disturbances are not well defined. It is argued that when it is costly to delay policy reactions to seldom-experienced shocks until formal algorithmic learning has been accomplished, and when time consistency problems are significant, a mixed strategy that combines a simple verifiable rule with discretion is attractive. The paper also discusses mechanisms for mitigating credibility problems and emphasizes that arguments against various types of simple rules lose their force under a mixed strategy.
Book Synopsis Brookings Papers on Economic Activity: Fall 2009 by : David H. Romer
Download or read book Brookings Papers on Economic Activity: Fall 2009 written by David H. Romer and published by Brookings Institution Press. This book was released on 2010-07-01 with total page 289 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: Editors' Summary Heeding Daedalus: Optimal Inflation and the Zero Lower Bound By John C. Williams The Age of Reason: Financial Decisions over the Life Cycle and Implications for Regulation By Sumit Agarwal, John C. Driscoll, and Xavier Gabaix Interpreting the Unconventional U.S. Monetary Policy of 2007-09 By Ricardo Reis By How Much Does GDP Rise If the Government Buys More Output? By Robert E. Hall When the North Last Headed South: Revisiting the 2930s By Carmen M. Reinhart and Vincent R. Reinhart
Book Synopsis Currents and Undercurrents by : Arthur B. Kennickell
Download or read book Currents and Undercurrents written by Arthur B. Kennickell and published by . This book was released on 2006 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Estimating Probabilities of Recession in Real Time Using GDP and GDI by : Jeremy Nalewaik
Download or read book Estimating Probabilities of Recession in Real Time Using GDP and GDI written by Jeremy Nalewaik and published by . This book was released on 2007 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Shifting Trends in Semiconductor Prices and the Pace of Technological Progress by : Ana Aizcorbe
Download or read book Shifting Trends in Semiconductor Prices and the Pace of Technological Progress written by Ana Aizcorbe and published by . This book was released on 2006 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Relocation Decisions of Working Couples by : Jonathan F. Pingle
Download or read book The Relocation Decisions of Working Couples written by Jonathan F. Pingle and published by . This book was released on 2006 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis News, Noise, and Estimates of the "true" Unobserved State of the Economy by : Dennis J. Fixler
Download or read book News, Noise, and Estimates of the "true" Unobserved State of the Economy written by Dennis J. Fixler and published by . This book was released on 2007 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Requirements and Prospects for a New Time to Payoff Disclosure for Open End Credit Under Truth in Lending by : Thomas A. Durkin
Download or read book Requirements and Prospects for a New Time to Payoff Disclosure for Open End Credit Under Truth in Lending written by Thomas A. Durkin and published by . This book was released on 2006 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Do Homeowners Know Their House Values and Mortgage Terms? by : Brian Bucks
Download or read book Do Homeowners Know Their House Values and Mortgage Terms? written by Brian Bucks and published by . This book was released on 2006 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: