- Table View
- List View
Monetary Policies in the Age of Uncertainty (SpringerBriefs in Economics)
by Tamotsu Nakamura Yoichi Matsubayashi Kosuke Aoki Wataru TakahashiThis book provides an interesting review of Japanese monetary policies after the bubble economy. The Bank of Japan was the first central bank in advanced economies to implement the unconventional monetary policies during the period. After the Lehman shock, most advanced economies also carried out similar monetary policies to boost their own economies. The Japanese experience in the 1990s and 2000s no doubt played a key role during the period. Although various aspects of the experiences have been examined, not many books have been published based on intensive discussions between the macro and monetary theorists who have been active in academics and the practitioners who have actually been involved in monetary policy. This small but important book has focused on the Japanese experience. Evaluation of that experience found that three solid pillars are of crucial importance: theory, institution, and experience. Those form the basis of the book, without theory, no policies will be formulated and implemented, and implementation depends crucially on institution. Chapter 1 provides a clear theoretical background for the unconventional monetary policies and inflation targeting. Chapter 2 intensively explores the meaning and desirability of the independence of central banks. Chapter 3 reviews the consequences of the Japanese monetary policies in recent decades in comparison with those in other advanced economies.
Monetary Policy And The Onset Of The Great Depression The Myth Of Benjamin Strong As Decisive Leader
by Mark TomaMonetary Policy and the Onset of the Great Depression challenges Milton Friedman and Anna Schwartz's now consensus view that the high tide of the Federal Reserve System in the 1920s was due to the leadership skills of Benjamin Strong, head of the Federal Reserve Bank of New York.
Monetary Policy Implementation in East Asia (Financial and Monetary Policy Studies #51)
by Frank Rövekamp Moritz Bälz Hanns Günther HilpertThis book shares essential insights into the implementation of monetary policy in various East Asian countries. Highlighting case studies from China, Taiwan, Korea, Japan and Singapore, leading economists and practitioners from central banks illustrate how dependent effective monetary policy is on the institutional and financial market environment, as well as on successful implementation and communication. The respective contributions cover various aspects of monetary policy implementation, such as: How is inflation targeting handled? For what purposes and how do central banks operate on financial markets, and what are the (at times unintended) effects? How do currency market interventions help achieve the monetary policy targets set by individual countries or areas? In addition, Asian experiences are contrasted with those from the Eurozone.
Monetary Policy Normalization: One Hundred Years After Keynes' Tract on Monetary Reform (Contributions to Economics)
by Paolo Savona Rainer Stefano MaseraIn light of the pickup of inflation at the end of 2021 and monetary policy shifts by the world's major central banks, this book examines interrelated issues in the normalization of monetary policy. It covers topics including the role of technological innovations such as derivatives and cryptocurrencies in monetary and financial management, the role of monetary policy in financial crises (especially public debt), and the major repricing needed for central banks and the global economy. In addition, the book discusses the problem of how flexible money should be and the importance of predictive tools for these decisions, with attention to the advances of languages for scientific research, including those on the workings of the economy. The work addresses the geopolitical and social challenges that have arisen as a result of the invasiveness of monetary policy in its various manifestations in the context of major leading currencies. It is aimed at scholars and students of monetary and financial economics.
Monetary Policy and Central Banking in the Middle East and North Africa (Routledge Political Economy of the Middle East and North Africa)
by David Cobham Ghassan DibehThis book examines monetary policy, central banking and exchange rate regimes in the Middle East and North Africa. Part I covers central banking and monetary policy, while Part II covers monetary policy and exchange rate regimes. Some chapters focus on the monetary frameworks of particular countries, including Lebanon, Algeria, Syria, Tunisia, Morocco, and Turkey, outlining the different systems operated in each case, considering their successes and failures, and discussing important issues such as government policy, macroeconomic performance, inflation and inflation targeting, central bank independence and the impact of broader political economic developments on the conduct of monetary policy. Other chapters cover thematic issues across the whole region, including: central bank independence, operations of debtor central banks, the effect of exchange rates on inflation, and the effect on countries’ trade of alternative exchange rate regimes. Drawing on the insights of scholars and policy-makers, this book is a vital resource for anyone wanting to understand the economies of the Middle East and North Africa.
Monetary Policy and Credit Control: The UK Experience (Routledge Revivals)
by David H. GowlandThis book, first published in 1978, provides an analysis of British monetary policy and considers what techniques of monetary control were most appropriate to the context of the U.K. during the 1970s and 1980s. David Gowland answers crucial questions surrounding economic management in the period between 1971 and 1976, in particular whether rapid monetary expansion was the cause of the acceleration of U.K. inflation. With an analysis of the government’s experimentation with policy at its core, this is a unique study which will be of interest to students of monetary policy and recent British economic history.
Monetary Policy and Financial Repression in Britain, 1951–59
by William A. AllenBritish monetary policy was reactivated in 1951 when short-term interest rates were increased for the first time in two decades. The book explores the politics of formulating monetary policy in the 1950s and the techniques of implementing it, and discusses the parallels between the present monetary situation and that of 1951.
Monetary Policy and Food Inflation in Emerging and Developing Economies (Routledge Focus on Environment and Sustainability)
by Abdul-Aziz Iddrisu Imhotep Paul AlagidedeThis book focuses on the impact of monetary policy and food price volatility and inflation in emerging and developing economies. The tendency for food price volatility to blot inflation forecasting accuracy, engender tail dynamics in the overall inflation trajectory and derail economic welfare is well known in the literature. The ability of monetary policy to exact stability in food prices, theoretically, has also been well espoused. The empirical evidence, however, is not only in short supply, but also the studies available have dwelt on approaches that underplay the volatile behaviour of food prices. This book focuses on inflation targeting in emerging economies such as Chile, Mexico, Turkey, Brazil, Hungary, Russia, Colombia, South Africa, Indonesia and Ghana, as these are economies with considerable proportion of the consumption basket occupied by food. The book provides the means to understand at first hand the correct way to model food inflation, account for the related policy responses to deviations either in the short or medium to long term, and in market conditions that are subject to excessive variability. Strong evidence is presented that captures deviations of food prices from their trend and the accompanying monetary policy effect in stabilizing such variabilities across distinct frequencies. The novel approach in this book addresses the burgeoning puzzles of asymmetry in monetary policy effect on food prices at high, medium and low episodes of food inflation. In doing so, this book presents a powerful tool for researchers interested in understanding not just the transmission mechanism, but also the magnitudes involved, and to policymakers whose existing tools have failed them. Future studies will do well to deepen the evidence and seek new grounds to which the phenomenon manifests beyond and below emerging markets. This book will be of great interest to students, scholars and policymakers involved in agricultural economics, financial economics, food security and sustainable development.
Monetary Policy and the Lost Decade: Lessons from Japan
by Daniel LeighA report from the International Monetary Fund.
Monetary Policy in Interdependent Economies: The Task Ahead (Financial and Monetary Policy Studies #55)
by Ioanna T. KokoresThis book explores the challenges faced by central banks in the aftermath of the global financial crisis and the events that followed. It further emphasises the asymmetries in the transmission of monetary policy in the Eurozone economies and among major advanced economies. The book also highlights the advances in the monetary policy debate towards an efficient resource allocation.The author argues that the canonical model of macroeconomic stabilization, which assigns the main burden of stabilization to monetary policy, is outdated primarily because of the absence of financial frictions. Further, she highlights the urgency of pushing risky activities outside the perimeters of regulation in face of rapidly evolving financial markets. The book provides an analytical framework in the context of intense globalisation and increased interdependence across economies, irrespective of the recent re-examining of supply-chains and trade relationships, as well as a policy framework thoroughly amended after the global financial crisis and the crises that followed it.Presenting policy proposals, the book discusses how policymakers must try to develop a set of policies that the public will have confidence in and take into account in forming expectations about future inflation and spending. It will be useful to central banking practitioners, monetary and fiscal policymakers, as well as students and scholars in economics and, in particular, financial economics.
Monetary Redress for Abuse in State Care
by Stephen WinterInvestigating a fast-developing field of public policy, Stephen Winter examines how states redress injuries suffered by young people in state care. Considering ten illustrative exemplar programmes from Australia, Canada, Ireland, and Aotearoa New Zealand, Winter explores how redress programmes attempt to resolve the anguish, injustice, and legacies of trauma that survivors experience. Drawing from interviews with key stakeholders and a rich trove of documentary research, this book analyses how policymakers should navigate the trade-offs that survivors face between having their injuries acknowledged and the difficult, often retraumatising, experience of attaining redress. A timely critical engagement with this contentious policy domain, Winter presents empirically driven recommendations and a compelling argument for participatory, flexible, and survivor-focussed programmes.
Monetary Unions: Institutions and Policies (Springer Texts in Business and Economics)
by Hubert KempfThis textbook explains the notion of monetary union, highlighting the key concepts, procedures, and challenges involved. The book is organized in three parts. In the first part, the reader learns about monetary issues, like definitions and typology of monetary unions, rationale of monetary unions, monetary policy, monetary institutional matters. The second part is devoted to fiscal matters and the interplay between fiscal and monetary policies, such as deficits, transfers, public debt sustainability issues, fiscal policy, policy mix. The last part focuses on other distinct but related issues, necessary to complete the union: banking and fiscal unions, structural adjustments in a monetary union. It ends with a chapter on the fate of monetary unions: how they develop, mature and sometimes dissolve.The book addresses students at undergraduate and graduate level, interested in a better understanding of international macroeconomics and monetary unions, as well as policy-makers, practitioners and economists in central banks, ministries of economics, economic institutions and banks.
Monetary and Financial Policy in the Euro Area: An Introduction (Springer Texts in Business and Economics)
by Maximilian FandlThis textbook provides a comprehensive overview of monetary policy, banking supervision and financial stability in the euro area. The author uses his professional experience in central banking to provide a thorough understanding of European economics and to explore how the monetary and financial system functions. The book takes into account the profound changes that resulted from crisis developments in recent years, such as the implementation of quantitative easing or the establishment of the Single Supervisory Mechanism (SSM). The author also invites readers to develop their thoughts on alternative policies to shape the monetary and financial system of the future. The textbook is tailor-made for intermediate courses in economics but will also appeal to those preparing a career in central banking or financial regulation.
Monetary and Fiscal Policy Options for Dealing with External Shocks: Insights from the GIMF for Colombia
by Benedict Clements Daniel Leigh Enrique FloresA report from the International Monetary Fund.
Monetary and Fiscal Thought and Policy in Canada, 1919-1939
by Irving BrecherIn this careful and thorough study of a Canadian field which has been relatively untouched in recent years, Dr. Brecher records and comments on the development of monetary and fiscal thinking in Canada in the inter-war period, and its impact on public policy in the federal sphere. Examining Canadian opinion about economic theory during this time, the author draws on four fields of thought: that of government and other public officials; of businessmen, such as bankers, and their views on what should be done about the depression; of the "radical group", such as those prominent in the formation of the CCF and Social Credit parties; and of economists, prominent in the universities.Dr. Brecher points out in his preface that his inquiry is rooted in the conviction that the problems associated with cyclical fluctuations remain sufficiently complex to make an understanding of the developments of the twenties and thirties an indispensable condition for effective stabilization policy. He finds the twenties distinguished only in the superficial and imperfect diagnosis of and remedial suggestions for unemployment, made chiefly by a relatively small handful of thinkers associated with the Progressive and United Farmers movements, then emerging in the West. It was the thirties which, under the impact of the depression, witnessed the first real stirrings of careful economic analysis in cyclical terms, and of statistical techniques for measuring the value of annual productive activity and income receipts in the Dominion.The author has attempted to appraise the evolution of the Canadian policy of monetary and fiscal stabilization within the thought environment in which it was conceived and implemented, and on the basis of the standards set by modern income-employment theory.
Monetizing Natural Gas in the New “New Deal” Economy
by Michelle Michot Foss Anna Mikulska Gürcan GülenNatural gas markets have undergone momentous changes, worldwide. This book updates and expands on the dynamics, performance and forward path of expanding natural gas use in the US and worldwide, including international trade. It brings together major research themes and findings with recent updates and analysis of new trends and developments. It also explores many considerations for natural gas market development, such as the importance of infrastructure, transparent pricing, and institutional capacity. This book is unique in providing background on the full natural gas value chain as well as information and analysis that can foster scenario-building and decision-making. Of particular value are the lessons learned and demonstrated for those countries that aspire to build effective natural gas markets and to expand natural gas development and use.
Money Capital: New Monetary Principles for a More Prosperous Society
by Patrick Bolton Haizhou HuangA novel perspective on monetary and fiscal policy that views money as the equity capital of a nationA conventional economic theory, monetarism, holds that inflation is a monetary phenomenon driven by changes in the supply of money. Yet recent experience—including the aftermath of the financial crisis of 2008 and the economic development of China—contradict this basic prediction. In this book, leading economists Patrick Bolton and Haizhou Huang offer a novel perspective, viewing monetary economics through the lens of corporate finance. They propose a richer theory, where money can be seen as the equity capital of a nation, playing a similar role as stocks for a company. This innovative framework integrates the real and monetary sides of the economy, with a banking sector and debt at its core.In the financial world, companies issue new shares only if it results in some kind of value creation; this is a basic principle of corporate finance that Bolton and Huang argue can be applied to monetary economics. When the government increases the money supply to finance positive net value investments—when it prints money to keep the economy going—it increases output, not inflation. This is evidenced by the strong growth in GDP and money in China over the last four decades, and in the United States during World War II. The effect of increasing money supply, they argue, depends on how money enters the system and what the money buys. The principles outlined by Bolton and Huang shed new light on a range of issues, including inflation, monetary and fiscal policy, central banking, money and growth, and the international monetary system.
Money Facts: 169 Questions & Answers on Money
by Subcommittee on Domestic FinanceThe meaning of money, how it was created, and how it influenced everyday life for Americans inspired Wright Patman throughout his professional life as a Congressman from 1928 to 1975, as chairman of the powerful United States House Committee on Banking and Currency from 1963 to 1975 and a life-long populist in the good sense of the word. He defended the little guy, farmers, veterans and small businessmen against big business, big chain stores, big banks and especially the Federal Reserve system. Together with his Subcommittee on Domestic Finance, Patman released in 1964 A Primer on Money explaining how the US monetary system works and indicated where it needed reform. As a supplement to that report, he released Money Facts—169 Questions and Answers on Money, which is designed to highlight in question and answer form the basic points brought out in A Primer on Money. It answers, for example, what money is: “Money is anything that people will accept in exchange for goods or services, in the belief that they may, in turn, exchange it, now or later, for other goods or services,”, but it also raises many other questions such as: - Who issues currency? - What is a central bank? - What is active monetary policy? - What is the main problem of the Federal Reserve System? Although this publication is over fifty years old, and some changes have been made to the Federal Reserve System since then, this booklet is still relevant and important to understand more about the history and meaning of money and how the Federal Reserve System plays a crucial role in the US economy. This report is interesting reading for students of monetary policy, academics, policymakers, journalists, and anyone interested to learn about the basics of money and the monetary system.
Money Has No Smell: The Africanization of New York City
by Paul StollerIn February 1999 the tragic New York City police shooting of Amadou Diallo, an unarmed street vendor from Guinea, brought into focus the existence of West African merchants in urban America. In Money Has No Smell, Paul Stoller offers us a more complete portrait of the complex lives of West African immigrants like Diallo, a portrait based on years of research Stoller conducted on the streets of New York City during the 1990s. Blending fascinating ethnographic description with incisive social analysis, Stoller shows how these savvy West African entrepreneurs have built cohesive and effective multinational trading networks, in part through selling a simulated Africa to African Americans. These and other networks set up by the traders, along with their faith as devout Muslims, help them cope with the formidable state regulations and personal challenges they face in America. As Stoller demonstrates, the stories of these West African traders illustrate and illuminate ongoing debates about globalization, the informal economy, and the changing nature of American communities.
Money In the House
by CurrinderParty leaders in the US House of Representatives are expected to raise tremendous amounts of money for congressional campaign committees and for other party candidates and the ability to do so has become a key factor in the gaining and maintaining leadership positions within the House. Currinder (Government Affairs Institute, Georgetown U. ) explores how this system came to be following reforms in the 1970s and considers its implications for Congressional politics. He presents a theory of the relationship between House members and the congressional party organizations that rests on the idea that when partisan margins are small and power is centralized in the leadership, party leaders are better able to distribute money to satisfy party goals, but that when the opposite holds, House members can redistribute money so as to satisfy their individual agendas. He then examines this theory against the evolution of Congress from the 1970s reforms through the election of Nancy Pelosi as House Speaker. Annotation ©2008 Book News, Inc. , Portland, OR (booknews. com)
Money In the House
by CurrinderMoney in the House provides a compelling look at how the drive to raise campaign money has come to dominate congressional party politics. Author Marian Currinder examines the rise of member-to-member and member-to-party giving as part of a broader process that encourages ambitious House members to compete for power by raising money for the party and its candidates. As the margin between parties in the House has narrowed, the political environment has become fiercely competitive. Because electoral success is largely equated with fundraising success, the party that raises the most money is at a distinct advantage. In addition to relying on outside interests and individuals for campaign contributions, the congressional parties increasingly call on their own members to give for the good of the whole. As a result, lawmakers must devote ever-increasing amounts of time to fundraising. The fundraising expectations for members who wish to advance in the chamber are even higher. By requiring their members to raise and redistribute tremendous amounts of money in order to gain power in the chamber, the parties benefit from their members' ambitious pursuits. Currinder argues that the new "rule of money" is fundamentally altering the way House members pursue power and the way congressional parties define and reward loyalty. Contents 1. Introduction: Redistributing Campaign Funds and Congressional Party Politics 2. Pursuing Ambition in a Parties Framework 3. The 1970s Reform Era: The Money Chase Begins 4. The 1980s: New Directions in Campaign Funding 5. A Republican Revolution in Politics and Money 6. Redistributing Campaign Money in a New Era
Money In the House
by Marian CurrinderMoney in the House provides a compelling look at how the drive to raise campaign money has come to dominate congressional party politics. Author Marian Currinder examines the rise of member-to-member and member-to-party giving as part of a broader process that encourages ambitious House members to compete for power by raising money for the party and its candidates. As the margin between parties in the House has narrowed, the political environment has become fiercely competitive. Because electoral success is largely equated with fundraising success, the party that raises the most money is at a distinct advantage. In addition to relying on outside interests and individuals for campaign contributions, the congressional parties increasingly call on their own members to give for the good of the whole. As a result, lawmakers must devote ever-increasing amounts of time to fundraising. The fundraising expectations for members who wish to advance in the chamber are even higher. By requiring their members to raise and redistribute tremendous amounts of money in order to gain power in the chamber, the parties benefit from their members' ambitious pursuits. Currinder argues that the new "rule of money" is fundamentally altering the way House members pursue power and the way congressional parties define and reward loyalty. Contents1. Introduction: Redistributing Campaign Funds and Congressional Party Politics 2. Pursuing Ambition in a Parties Framework 3. The 1970s Reform Era: The Money Chase Begins 4. The 1980s: New Directions in Campaign Funding 5. A Republican Revolution in Politics and Money 6. Redistributing Campaign Money in a New Era
Money In the House
by Marian CurrinderMoney in the House provides a compelling look at how the drive to raise campaign money has come to dominate congressional party politics. Author Marian Currinder examines the rise of member-to-member and member-to-party giving as part of a broader process that encourages ambitious House members to compete for power by raising money for the party and its candidates. As the margin between parties in the House has narrowed, the political environment has become fiercely competitive. Because electoral success is largely equated with fundraising success, the party that raises the most money is at a distinct advantage. In addition to relying on outside interests and individuals for campaign contributions, the congressional parties increasingly call on their own members to give for the good of the whole. As a result, lawmakers must devote ever-increasing amounts of time to fundraising. The fundraising expectations for members who wish to advance in the chamber are even higher. By requiring their members to raise and redistribute tremendous amounts of money in order to gain power in the chamber, the parties benefit from their members' ambitious pursuits. Currinder argues that the new "rule of money" is fundamentally altering the way House members pursue power and the way congressional parties define and reward loyalty. Contents1. Introduction: Redistributing Campaign Funds and Congressional Party Politics 2. Pursuing Ambition in a Parties Framework 3. The 1970s Reform Era: The Money Chase Begins 4. The 1980s: New Directions in Campaign Funding 5. A Republican Revolution in Politics and Money 6. Redistributing Campaign Money in a New Era
Money In the House: Campaign Funds and Congressional Party Politics
by Marian CurrinderMoney in the House provides a compelling look at how the drive to raise campaign money has come to dominate congressional party politics. Author Marian Currinder examines the rise of member-to-member and member-to-party giving as part of a broader process that encourages ambitious House members to compete for power by raising money for the party and its candidates. As the margin between parties in the House has narrowed, the political environment has become fiercely competitive. Because electoral success is largely equated with fundraising success, the party that raises the most money is at a distinct advantage. In addition to relying on outside interests and individuals for campaign contributions, the congressional parties increasingly call on their own members to give for the good of the whole. As a result, lawmakers must devote ever-increasing amounts of time to fundraising. The fundraising expectations for members who wish to advance in the chamber are even higher. By requiring their members to raise and redistribute tremendous amounts of money in order to gain power in the chamber, the parties benefit from their members' ambitious pursuits. Currinder argues that the new 'rule of money' is fundamentally altering the way House members pursue power and the way congressional parties define and reward loyalty.
Money Matters in Migration: Policy, Participation, and Citizenship
by Willem Maas Tesseltje De Lange Annette SchrauwenMigration, participation, and citizenship, are central political and social concerns, are deeply affected by money. The role of money - tangible, intangible, conceptual, and as a policy tool - is understudied, overlooked, and analytically underdeveloped. For sending and receiving societies, migrants, their families, employers, NGOs, or private institutions, money defines the border, inclusion or exclusion, opportunity structures, and equality or the lack thereof. Through the analytical lens of money, the chapters in this book expose hidden and sometimes contradictory policy objectives, unwanted consequences, and inconsistent regulatory structures. The authors from a range of fields provide multiple perspectives on how money shapes decisions from all actors in migration trajectories, from micro to macro level. Taking an interdisciplinary approach, the book draws on case studies from Europe, the Americas, Asia, and Africa. This comprehensive overview brings to light the deep global impacts money has on migration and citizenship.