Share

Intervention Under Inflation Targeting--When Could It Make Sense?

2020-01-17 Business & Economics
Download Intervention Under Inflation Targeting--When Could It Make Sense? PDF Online Free

Author :
Release : 2020-01-17
Genre : Business & Economics
Kind : eBook
Book Rating : 022/5 ( reviews)

GET EBOOK


Book Synopsis Intervention Under Inflation Targeting--When Could It Make Sense? by : Mr.David J Hofman

Download or read book Intervention Under Inflation Targeting--When Could It Make Sense? written by Mr.David J Hofman. This book was released on 2020-01-17. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the motives inflation-targeting central banks in emerging markets may have for intervening in foreign exchange markets and evaluate the case for such interventions based on the existing literature. Our findings suggest that the rationale for interventions depends on initial conditions and country-specific circumstances. The case is strongest in the presence of large currency mismatches or underdeveloped markets. While interventions can have benefits in the short-term, sustained over time they could entrench unfavorable initial conditions, though more work is needed to establish this empirically. A first effort to measure the cost of interventions to the credibility of policy frameworks suggests that the negative impact may be smaller than often assumed—at least for the set of more sophisticated inflation-targeting emerging-market central banks considered here.

Intervention Under Inflation Targeting - When Could it Make Sense?

2020
Download Intervention Under Inflation Targeting - When Could it Make Sense? PDF Online Free

Author :
Release : 2020
Genre :
Kind : eBook
Book Rating : /5 ( reviews)

GET EBOOK


Book Synopsis Intervention Under Inflation Targeting - When Could it Make Sense? by :

Download or read book Intervention Under Inflation Targeting - When Could it Make Sense? written by . This book was released on 2020. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the motives inflation-targeting central banks in emerging markets may have for intervening in foreign exchange markets and evaluate the case for such interventions based on the existing literature. Our findings suggest that the rationale for interventions depends on initial conditions and country-specific circumstances. The case is strongest in the presence of large currency mismatches or underdeveloped markets. While interventions can have benefits in the short-term, sustained over time they could entrench unfavorable initial conditions, though more work is needed to establish this empirically. A first effort to measure the cost of interventions to the credibility of policy frameworks suggests that the negative impact may be smaller than often assumed-at least for the set of more sophisticated inflation-targeting emerging-market central banks considered here.

Inflation Expectations

2009-12-16 Business & Economics
Download Inflation Expectations PDF Online Free

Author :
Release : 2009-12-16
Genre : Business & Economics
Kind : eBook
Book Rating : 778/5 ( reviews)

GET EBOOK


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

Download or read book Inflation Expectations written by Peter J. N. Sinclair. This book was released on 2009-12-16. 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.

Monetary Policy Rules

2007-12-01 Business & Economics
Download Monetary Policy Rules PDF Online Free

Author :
Release : 2007-12-01
Genre : Business & Economics
Kind : eBook
Book Rating : 262/5 ( reviews)

GET EBOOK


Book Synopsis Monetary Policy Rules by : John B. Taylor

Download or read book Monetary Policy Rules written by John B. Taylor. This book was released on 2007-12-01. 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.

Inflation Targeting and Exchange Rate Management In Less Developed Countries

2016-03-08 Business & Economics
Download Inflation Targeting and Exchange Rate Management In Less Developed Countries PDF Online Free

Author :
Release : 2016-03-08
Genre : Business & Economics
Kind : eBook
Book Rating : 165/5 ( reviews)

GET EBOOK


Book Synopsis Inflation Targeting and Exchange Rate Management In Less Developed Countries by : Mr.Marco Airaudo

Download or read book Inflation Targeting and Exchange Rate Management In Less Developed Countries written by Mr.Marco Airaudo. This book was released on 2016-03-08. Available in PDF, EPUB and Kindle. Book excerpt: We analyze coordination of monetary and exchange rate policy in a two-sector model of a small open economy featuring imperfect substitution between domestic and foreign financial assets. Our central finding is that management of the exchange rate greatly enhances the efficacy of inflation targeting. In a flexible exchange rate system, inflation targeting incurs a high risk of indeterminacy where macroeconomic fluctuations can be driven by self-fulfilling expectations. Moreover, small inflation shocks may escalate into much larger increases in inflation ex post. Both problems disappear when the central bank leans heavily against the wind in a managed float.

You may also like...