What Else Can Central Banks Do
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Author | : Laurence Ball |
Publisher | : Geneva Reports on the World Economy |
Total Pages | : 0 |
Release | : 2016 |
Genre | : Banks and banking, Central |
ISBN | : 9780995470118 |
Download What Else Can Central Banks Do? Book in PDF, Epub and Kindle
Central banks can do more to stimulate economies and restore full employment, even when nominal interest rates are near zero. Quantitative easing has had beneficial effects already and can be expanded; policymakers can push interest rates substantially below zero. Central banks can also increase their scope for countercyclical policy by raising their inflation targets modestly. Eventually, the trend toward cashless economies may eliminate completely the problems arising from the lower bound on interest rates. The 18th Geneva Report on the World Economy seeks to provide policymakers with a developed selection of stimulus methods in order to tackle secular stagnation in advanced economies. With most options having already been explored, this report contributes to current stimulus policies and how they can be expanded and implemented to greater effect.
Author | : Board of Governors of the Federal Reserve System |
Publisher | : |
Total Pages | : 0 |
Release | : 2002 |
Genre | : Banks and Banking |
ISBN | : 9780894991967 |
Download The Federal Reserve System Purposes and Functions Book in PDF, Epub and Kindle
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.
Author | : Mr.Peter Stella |
Publisher | : International Monetary Fund |
Total Pages | : 40 |
Release | : 1997-07-01 |
Genre | : Business & Economics |
ISBN | : 1451850506 |
Download Do Central Banks Need Capital? Book in PDF, Epub and Kindle
Central banks may operate perfectly well without capital as conventionally defined. A large negative net worth, however, is likely to compromise central bank independence and interfere with its ability to attain policy objectives. If society values an independent central bank capable of effectively implementing monetary policy, recapitalization may become essential. Proper accounting practice in determining central bank profit or loss and rules governing the transfer of the central bank’s operating result to the treasury are also important. A variety of country-specific central bank practices are reviewed to support the argument.
Author | : Josh Ryan-Collins |
Publisher | : |
Total Pages | : 186 |
Release | : 2014-01-31 |
Genre | : Banks and banking |
ISBN | : 9781908506542 |
Download Where Does Money Come From? Book in PDF, Epub and Kindle
Based on detailed research and consultation with experts, including the Bank of England, this book reviews theoretical and historical debates on the nature of money and banking and explains the role of the central bank, the Government and the European Union. Following a sell out first edition and reprint, this second edition includes new sections on Libor and quantitative easing in the UK and the sovereign debt crisis in Europe.
Author | : Paul Tucker |
Publisher | : Princeton University Press |
Total Pages | : 662 |
Release | : 2019-09-10 |
Genre | : Business & Economics |
ISBN | : 0691196303 |
Download Unelected Power Book in PDF, Epub and Kindle
Tucker presents guiding principles for ensuring that central bankers and other unelected policymakers remain stewards of the common good.
Author | : Peter Dietsch |
Publisher | : John Wiley & Sons |
Total Pages | : 78 |
Release | : 2018-08-16 |
Genre | : Philosophy |
ISBN | : 1509525807 |
Download Do Central Banks Serve the People? Book in PDF, Epub and Kindle
Central banks have become the go-to institution of modern economies. In the wake of the 2007 financial crisis, they injected trillions of dollars of liquidity – through a process known as quantitative easing – first to prevent financial meltdown and later to stimulate the economy. The untold story behind these measures, and behind the changing roles of central banks generally, is that they have come at a considerable cost. Central banks argue we had no choice. This book offers a powerfully original examination of why this claim is false. Using examples from Europe and the US, the authors present and analyse three specific concerns about the way central banks in developed economies operate today. Firstly, they show how unconventional monetary policies have created significant unintended negative consequences in terms of inequalities in income and wealth. They go on to argue that central banks may have become independent of governments, but have instead become worryingly dependent on financial markets. They then proceed to analyse how central bankers, despite being the undisputed experts on monetary policy, can still err and suffer from multiple forms of bias. This book is a sobering and urgent wake-up call for policy-makers and anyone interested in how our monetary and financial system really works.
Author | : Kjell G. Nyborg |
Publisher | : Cambridge University Press |
Total Pages | : 345 |
Release | : 2017 |
Genre | : Business & Economics |
ISBN | : 1107155843 |
Download Collateral Frameworks Book in PDF, Epub and Kindle
The first book-length study of the importance of collateral frameworks in monetary policy, focusing on the Eurozone and euro crisis.
Author | : Christopher Adolph |
Publisher | : Cambridge University Press |
Total Pages | : 389 |
Release | : 2013-04-15 |
Genre | : Political Science |
ISBN | : 1139620533 |
Download Bankers, Bureaucrats, and Central Bank Politics Book in PDF, Epub and Kindle
Most studies of the political economy of money focus on the laws protecting central banks from government interference; this book turns to the overlooked people who actually make monetary policy decisions. Using formal theory and statistical evidence from dozens of central banks across the developed and developing worlds, this book shows that monetary policy agents are not all the same. Molded by specific professional and sectoral backgrounds and driven by career concerns, central bankers with different career trajectories choose predictably different monetary policies. These differences undermine the widespread belief that central bank independence is a neutral solution for macroeconomic management. Instead, through careful selection and retention of central bankers, partisan governments can and do influence monetary policy - preserving a political trade-off between inflation and real economic performance even in an age of legally independent central banks.
Author | : Alan S. Blinder |
Publisher | : Centre for Economic Policy Research |
Total Pages | : 150 |
Release | : 2001 |
Genre | : Business & Economics |
ISBN | : 9781898128601 |
Download How Do Central Banks Talk? Book in PDF, Epub and Kindle
Not long ago, secrecy was the byword in central banking circles, but now the unmistakable trend is towards greater openness and transparency. This, the third Geneva Report on the World Economy, describes and evaluates some of the changes in how central banks talk to the markets, to the press, and to the public. The report first assesses the case for transparency ? defined as providing sufficient information for the public to understand the policy regime ? and concludes that it is very strong, based on both policy effectiveness and democratic accountability. It then examines what should be the content of communication and argues that central banks ought to spell out their long-run objectives and methods. It then investigates the link between the decision-making process and central bank communication, drawing a distinction between individualistic and collegial committees. The report concludes with a review of the communications strategies of some of the main central banks.
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 45 |
Release | : 2014-06-11 |
Genre | : Business & Economics |
ISBN | : 1498342620 |
Download Staff Guidance Note on Macroprudential Policy Book in PDF, Epub and Kindle
This note provides guidance to facilitate the staff’s advice on macroprudential policy in Fund surveillance. It elaborates on the principles set out in the “Key Aspects of Macroprudential Policy,” taking into account the work of international standard setters as well as the evolving country experience with macroprudential policy. The main note is accompanied by supplements offering Detailed Guidance on Instruments and Considerations for Low Income Countries