LEADER 06089oam 22014774 450 001 9910968229503321 005 20250426110826.0 010 $a9781475511635 010 $a1475511639 010 $a9781475581171 010 $a1475581173 035 $a(CKB)2550000000106127 035 $a(EBL)1606696 035 $a(SSID)ssj0001101020 035 $a(PQKBManifestationID)11609134 035 $a(PQKBTitleCode)TC0001101020 035 $a(PQKBWorkID)11063694 035 $a(PQKB)11497081 035 $a(Au-PeEL)EBL1606696 035 $a(CaPaEBR)ebr10566297 035 $a(OCoLC)870244824 035 $a(IMF)WPIEE2012101 035 $a(IMF)WPIEA2012101 035 $a(MiAaPQ)EBC1606696 035 $aWPIEA2012101 035 $a(EXLCZ)992550000000106127 100 $a20020129d2012 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCentral Bank Independence and Macro-Prudential Regulation /$fFabian Valencia, Kenichi Ueda 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2012. 215 $a1 online resource (28 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/12/101 300 $aDescription based upon print version of record. 311 08$a9781475549683 311 08$a1475549687 311 08$a9781475502916 311 08$a1475502915 320 $aIncludes bibliographical references. 327 $aCover; Contents; I: Introduction; II: Model Setup; III: Social Planner Benchmark; IV: Time inconsistency in a dual-mandate central bank; V: Separation of Objectives Achieves Social Optimum; VI: The role of political independence; A: Non-Independent Central Bank and Independent Macro-prudential Regulator; B: Non-Independent Macro-prudential Regulator and Independent Central Bank; VII: Welfare Comparisons; List of Tables; 1 Welfare Loss Across Institutional Arrangements; VIII: Conclusions; References; Appendices; I: Non-Independent Single Authority; II: Distortionary Macro-prudential Regulation 330 3 $aWe consider the optimality of various institutional arrangements for agencies that conduct macro-prudential regulation and monetary policy. When a central bank is in charge of price and financial stability, a new time inconsistency problem may arise. Ex-ante, the central bank chooses the socially optimal level of inflation. Ex-post, however, the central bank chooses inflation above the social optimum to reduce the real value of private debt. This inefficient outcome arises when macro-prudential policies cannot be adjusted as frequently as monetary. Importantly, this result arises even when the central bank is politically independent. We then consider the role of political pressures in the spirit of Barro and Gordon (1983). We show that if either the macro-prudential regulator or the central bank (or both) are not politically independent, separation of price and financial stability objectives does not deliver the social optimum. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2012/101 606 $aBanks and banking, Central 606 $aBanks and banking 606 $aBanks and Banking$2imf 606 $aFinance: General$2imf 606 $aInflation$2imf 606 $aMacroeconomics$2imf 606 $aMoney and Monetary Policy$2imf 606 $aOptimization Techniques$2imf 606 $aProgramming Models$2imf 606 $aDynamic Analysis$2imf 606 $aMacroeconomics: Consumption$2imf 606 $aSaving$2imf 606 $aWealth$2imf 606 $aContingent Pricing$2imf 606 $aFutures Pricing$2imf 606 $aoption pricing$2imf 606 $aPrice Level$2imf 606 $aDeflation$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aGeneral Financial Markets: Government Policy and Regulation$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aBanking$2imf 606 $aFinance$2imf 606 $aMonetary economics$2imf 606 $aPrice stabilization$2imf 606 $aFinancial sector stability$2imf 606 $aCredit$2imf 606 $aPrices$2imf 606 $aBanks and banking$2imf 606 $aGovernment policy$2imf 606 $aFinancial services industry$2imf 606 $aOption pricing$2imf 615 0$aBanks and banking, Central. 615 0$aBanks and banking. 615 7$aBanks and Banking 615 7$aFinance: General 615 7$aInflation 615 7$aMacroeconomics 615 7$aMoney and Monetary Policy 615 7$aOptimization Techniques 615 7$aProgramming Models 615 7$aDynamic Analysis 615 7$aMacroeconomics: Consumption 615 7$aSaving 615 7$aWealth 615 7$aContingent Pricing 615 7$aFutures Pricing 615 7$aoption pricing 615 7$aPrice Level 615 7$aDeflation 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aGeneral Financial Markets: Government Policy and Regulation 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aBanking 615 7$aFinance 615 7$aMonetary economics 615 7$aPrice stabilization 615 7$aFinancial sector stability 615 7$aCredit 615 7$aPrices 615 7$aBanks and banking 615 7$aGovernment policy 615 7$aFinancial services industry 615 7$aOption pricing 676 $a332.1/52 700 $aValencia$b Fabian$01815695 701 $aUeda$b Kenichi$01815625 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910968229503321 996 $aCentral Bank Independence and Macro-Prudential Regulation$94371165 997 $aUNINA LEADER 05253nam 22008053u 450 001 9911019840703321 005 20230721004106.0 010 $a9786612342028 010 $a9781282342026 010 $a1282342029 010 $a9780470696545 010 $a0470696540 010 $a9780470695791 010 $a047069579X 035 $a(CKB)1000000000687403 035 $a(EBL)470627 035 $a(OCoLC)609849609 035 $a(SSID)ssj0000133821 035 $a(PQKBManifestationID)11141988 035 $a(PQKBTitleCode)TC0000133821 035 $a(PQKBWorkID)10046324 035 $a(PQKB)11162729 035 $a(MiAaPQ)EBC470627 035 $a(Perlego)2756870 035 $a(EXLCZ)991000000000687403 100 $a20131014d2008|||| u|| | 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCulture-on-Demand $eCommunication in a Crisis World 210 $aHoboken $cWiley$d2008 215 $a1 online resource (248 p.) 300 $aDescription based upon print version of record. 311 08$a9781405160643 311 08$a1405160640 327 $aCulture-on-Demand: Communication in a Crisis World; Contents; List of Figures; Acknowledgments; Introduction; 1 All Eyes on the Global Stage; Media Globalization; Modern Media Development; The Global Divides; China and the Middle East: Responses to Modernity and Globalization; The Communications Revolution; 2 Human Expression; The Cultural Politics of Expression; The Need for Expression; Symbolic Creativity and the Expressive Self; Emotional Communication; The fear factor and the pleasure principle; The Active Pleasures of Expression and Communication; Mobile expression 327 $aCultural Open SourcingSymbolic Power to the People; 3 Programming Our Personal Supercultures; Cultural Experience; Culture, culture, Superculture; The "supers"; Culture in common; Cultural Technology in the Communication Age; Cultural Programming; The Cultural Self and Self Culture; Encountering Culture; The Cultural Spheres; Universal values and concepts; Transnational cultural media; Civilizations; Nations; Regions and everyday life; The Cultural Mix in Action; Superculture Revisited; 4 The Push and Pull of Culture; The Push of Culture; Diaspora; Nation as contested push 327 $aThe Pull of CultureIndividualism; "A life of one's own"; New Cultural Horizons; 5 Globalized Islam; The Islamic Cultural Body; The visible visual body; Gender equality, political democracy, and economic prosperity; Islam in the West; The Opinion, and the Other Opinion; The global TV war; The New Imagined World of Islam; Instrumental modernity; The communications problem; 6 Cultural Transparency; Reflexive Cultural Globalization; The globalization of good and bad ideas; Loving to hate America; Open Society: The Guiding Principle for Cultural Development; The Power of Transparency 327 $aTransparency or surveillance?7 The Open Spaces of Global Communication; Stage 1: Cultural Technology, Industry, Abundance; Stage 2: Global Visibility and Transparency; Stage 3: Platforms for Participation; Stage 4: Global Consciousness and Public Opinion; Stage 5: Global Wisdom; Stage 6: Institutional Channels; Stage 7: Utopian Potential; 8 Fundamentalism and Cosmopolitanism; The Passion of the Religious Culture; Fundamentalist America; The active passivity of Islam; Other Fundamentalisms; Nationalism; Market fundamentalism; The Democratic Secular Imperative; One Moral Universe? 327 $aA "modest cosmopolitan" alternative9 Communicating the Future; The Paradox of Tolerance; The Great Chain of Communication; References; Index 330 $aThis highly original, thought-provoking book - written by a pioneer of communication studies - is the first to analyze the post 9/11 world in terms of global media and popular culture. Written in an engaging and candid manner by a leading expert in this field Argues that cross-cultural understanding can only be achieved by harnessing the power of global media, popular culture, information technology, and personal communications technologies Examines the global trend of using film, video, music, and TV "on-demand" as the framework through which we experience all 606 $aCommunication and culture 606 $aCommunication, International 606 $aCommunication, International 606 $aGlobalization 606 $aCommunication and culture 606 $aCommunication, International 606 $aGlobalization 606 $aJournalism & Communications$2HILCC 606 $aCommunication & Mass Media$2HILCC 615 4$aCommunication and culture. 615 4$aCommunication, International. 615 4$aCommunication, International. 615 4$aGlobalization. 615 0$aCommunication and culture. 615 0$aCommunication, International. 615 0$aGlobalization. 615 7$aJournalism & Communications 615 7$aCommunication & Mass Media 676 $a302.2 700 $aLull$b James$0150789 801 0$bAU-PeEL 801 1$bAU-PeEL 801 2$bAU-PeEL 906 $aBOOK 912 $a9911019840703321 996 $aCulture-on-Demand$94422269 997 $aUNINA