Mahadeva / Sinclair How Monetary Policy Works

Erscheinungsjahr 2004
ISBN: 978-1-134-28983-7
Verlag: CRC Press
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 464 Seiten

Reihe: CENTRAL BANK GOVERNOR'S SYMPOSIUM

For monetary policymakers worldwide, developing a practical understanding of how monetary policy transmits to the economy is a day-to-day challenge. The data such policymakers have is imperfect, the maps they use are continually redrawn. With such uncertainty, understanding this complicated issue is rarely straightforward.
This book, a collaboration between some of the finest minds working on monetary theory in the world, helps to provide a foundation for understanding monetary policy in all its complex glory. Using models, case studies and new empirical evidence, the contributors to this book help readers on many levels develop their technical expertise.
Students of macroeconomics, money and banking and international finance will find this to be a good addition to their reading lists. At the same time, policymakers and professionals within banking will learn valuable lessons from a thorough read of this book's pages.

Autoren/Hrsg.

Mahadeva, Lavan

Sinclair, Peter J N

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein
• Wirtschaftswissenschaften Volkswirtschaftslehre Internationale Wirtschaft

Inhaltsverzeichnis

1. Introduction

2. The Transmission Mechanism of Monetary Policy Through Interest Rates - Policy Rate Effects on Other Interest Rates, Asset Prices, Consumption and Investment Peter Sinclair

3. How Policy Rates Affect Output, Prices and Labour - Open Economy Issues; and Inflation and Disinflation Peter Sinclair

4. Model-building in Theory and Practice: The Output Gap Lavan Mahadeva

5. Model-building in Theory and Practise: The Philips Curve Lavan Mahadeva

6. Transmission Mechanisms and Inflation Targeting - The Case of Columbia's Disinflation Javier Gómez and Juan Manuel Julio

7. Monetary Transmission Mechanism in Poland Tomasz Lyziak

8. Monetary Policy and Goals for External Competitiveness - A Dynamic General Equilibrium Model for Hungary Áron Gereben

9. Monetary Transmission Mechanism - A View from a High Inflation Environment Gülbin Sahinbeyoglu

10. Measures of Monetary Policy Transparency and the Transmission Mechanism Richhild Moessner, Toni Gravelle and Peter Sinclair

11. Discussant's Comments Marion William, Barbados

13. Discussant's Comments David Dodge, Canada

14. Discussant's Comments Bimal Jalan, India

15. The Monetary Transmission Mechanism in South Africa M.M. Smal and S. de Jager

16. What do we know about the Channels of Monetary Transmission in Transition Economies? Hungaries Experience Under the Exchange Rate Targeting Regime Judit Neményi

17. Goals and Instruments of Monetary Policy - Past, Present and Future C. Freedman

Über Autor(innen)

Lavan Mahadeva is Monetary Policy Committee Research Advisor to the Bank of England, UK. His Previous book, Monetary Policy Frameworks in a Global Context, is also available from Routledge.

Peter Sinclair is Director of the Bank of England Centre for Central Banking Studies and Professor of Economics at the University of Birmingham, UK. His previous book, Financial Stability and Central Banks, is also available from Routledge.