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Monetary Policy Strategies

1988-10-04 Business & Economics
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Release : 1988-10-04
Genre : Business & Economics
Kind : eBook
Book Rating : 570/5 ( reviews)

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Book Synopsis Monetary Policy Strategies by : International Monetary Fund

Download or read book Monetary Policy Strategies written by International Monetary Fund. This book was released on 1988-10-04. 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.

Monetary Policy Strategy

2009-08-21 Business & Economics
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Release : 2009-08-21
Genre : Business & Economics
Kind : eBook
Book Rating : 374/5 ( reviews)

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Book Synopsis Monetary Policy Strategy by : Frederic S. Mishkin

Download or read book Monetary Policy Strategy written by Frederic S. Mishkin. This book was released on 2009-08-21. Available in PDF, EPUB and Kindle. Book excerpt: A leading academic authority and policymaker discusses monetary policy strategy from the perspectives of both scholar and practitioner, offering theory, econometric evidence, and extensive case studies. This book by a leading authority on monetary policy offers a unique view of the subject from the perspectives of both scholar and practitioner. Frederic Mishkin is not only an academic expert in the field but also a high-level policymaker. He is especially well positioned to discuss the changes in the conduct of monetary policy in recent years, in particular the turn to inflation targeting. Monetary Policy Strategy describes his work over the last ten years, offering published papers, new introductory material, and a summing up, “Everything You Wanted to Know about Monetary Policy Strategy, But Were Afraid to Ask,” which reflects on what we have learned about monetary policy over the last thirty years. Mishkin blends theory, econometric evidence, and extensive case studies of monetary policy in advanced and emerging market and transition economies. Throughout, his focus is on these key areas: the importance of price stability and a nominal anchor; fiscal and financial preconditions for achieving price stability; central bank independence as an additional precondition; central bank accountability; the rationale for inflation targeting; the optimal inflation target; central bank transparency and communication; and the role of asset prices in monetary policy.

Strategies for Monetary Policy

2020 Monetary policy
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Release : 2020
Genre : Monetary policy
Kind : eBook
Book Rating : 785/5 ( reviews)

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Book Synopsis Strategies for Monetary Policy by : John Howland Cochrane

Download or read book Strategies for Monetary Policy written by John Howland Cochrane. This book was released on 2020. Available in PDF, EPUB and Kindle. Book excerpt: "As the Federal Reserve reviews its monetary policy strategy, key experts provide an in-depth discussion of the financial tools, debates, and practices that will ensure a sound US economy"--

Monetary Policy

2001-10-04 Business & Economics
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Release : 2001-10-04
Genre : Business & Economics
Kind : eBook
Book Rating : 847/5 ( reviews)

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Book Synopsis Monetary Policy by : Peter Bofinger

Download or read book Monetary Policy written by Peter Bofinger. This book was released on 2001-10-04. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an in-depth description and analysis of monetary policy in Europe and the United States. Unusually for a volume in the field, it focuses on actual monetary policy—-targets, institutions, strategies, and instruments—-but traditional and contemporary theoretical approaches to monetary policy form the basis for each chapter. Concentrating specifically on the European Central Bank, Monetary Policy offers one of the first comprehensive guides to understanding the targets, strategy, and instruments of the ECB. In the past, many books have presented mere descriptions of the institutional framework without providing a theoretical framework, while others have dealt mainly with theoretical aspects, thus neglecting the policy implications of their analysis. By combining a theoretical with a policy-oriented approach, Peter Bofinger succeeds in closing this gap in the monetary policy literature. As a result, his book will appeal to a broad readership, including investment bankers and other professional investors, central bankers, and scholars working in the field.

Deliberating American Monetary Policy

2013-11 Business & Economics
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Release : 2013-11
Genre : Business & Economics
Kind : eBook
Book Rating : 574/5 ( reviews)

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Book Synopsis Deliberating American Monetary Policy by : Cheryl Schonhardt-Bailey

Download or read book Deliberating American Monetary Policy written by Cheryl Schonhardt-Bailey. This book was released on 2013-11. Available in PDF, EPUB and Kindle. Book excerpt: American monetary policy is formulated by the Federal Reserve and overseen by Congress. Both policy making and oversight are deliberative processes, although the effect of this deliberation has been difficult to quantify. In this book, Cheryl Schonhardt-Bailey provides a systematic examination of deliberation on monetary policy from 1976 to 2008 by the Federal Reserve's Open Market Committee (FOMC) and House and Senate banking committees. Her innovative account employs automated textual analysis software to study the verbatim transcripts of FOMC meetings and congressional hearings; these empirical data are supplemented and supported by in-depth interviews with participants in these deliberations. The automated textual analysis measures the characteristic words, phrases, and arguments of committee members; the interviews offer a way to gauge the extent to which the empirical findings accord with the participants' personal experiences --

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