Author : Rakesh Mohan
Release : 2014-04-29
Genre : Business & Economics
Kind : eBook
Book Rating : 896/5 ( reviews)
Book Synopsis Monetary Policy Coordination and the Role of Central Banks by : Rakesh Mohan
Download or read book Monetary Policy Coordination and the Role of Central Banks written by Rakesh Mohan. This book was released on 2014-04-29. Available in PDF, EPUB and Kindle. Book excerpt: The unconventional monetary policies (UMPs) pursued by the advanced economies (AEs) have posed macroeconomic challenges for the emerging market economies (EMEs) through volatile capital flows and exchange rates. AE central banks need to acknowledge and appreciate the spillovers resulting from such UMPs. Central banks of the AEs, who have set up standing mutual swap facilities, should explore similar arrangements with other significant EMEs with appropriate risk mitigation measures. These initiatives could do much to actually curb volatility in global financial markets and hence in capital flows to EMEs, thus obviating the need for defensive policy actions on the part of EMEs.