Issues in monetary policy [[electronic resource] ] : the relationship between money and the financial markets / / edited by Kent Matthews, Philip Booth |
Pubbl/distr/stampa | Chichester, England, : John Wiley, c2006 |
Descrizione fisica | 1 online resource (212 p.) |
Disciplina |
332.46
339.5/3 |
Altri autori (Persone) |
MatthewsKent
BoothP <1964-> (Philip) |
Soggetto topico | Monetary policy |
Soggetto genere / forma | Electronic books. |
ISBN |
1-119-20581-6
1-280-36227-8 9786610362271 0-470-03281-2 |
Formato | Materiale a stampa |
Livello bibliografico | Monografia |
Lingua di pubblicazione | eng |
Nota di contenuto |
Issues in Monetary Policy; Contents; List of Contributors; 1 Issues in Monetary Policy; 1.1 Introduction; 1.2 The monetarist counter-revolution; 1.3 Practice ahead of theory; 1.4 The dangers of practice without theory; References; 2 Monetary Policy: Practice Ahead of Theory; 2.1 Introduction; 2.2 What can monetary policy do?; 2.3 Learning and its implication for monetary policy; 2.4 Inflation targeting as a framework which accommodates learning; 2.5 Conclusion; References; 3 Are the Structure and Responsibilities of the Bank of England Optimal and If Not, Does It Matter?; 3.1 Introduction
3.2 Current arrangements3.3 The conventional theoretical macro model (CTMM); 3.3.1 Role of interest rates in the CTMM; 3.3.2 Time series considerations; 3.4 How the Bank's main macro model constrained the monetary debate; 3.5 The new Bank of England quarterly model; 3.6 The monetarist case for a big central bank; 3.7 Lessons from Britain's monetary history; 3.8 Main conclusions; References; 4 Why Price-Level Targeting is better than Inflation Targeting; 4.1 Introduction; 4.2 How do inflation targeting and price-level targeting differ?; 4.2.1 Long-term price stability 4.2.2 Short-term inflation volatility4.2.3 Output volatility; 4.3 What is there to gain from long-term price stability?; 4.4 Inflation volatility is not same thing as inflation uncertainty; 4.5 Price-level targeting generates its own credibility; 4.6 Price-level targeting is self-regulating; 4.7 Price-level targeting offers escape from a low-employment equilibrium; 4.8 The 'costs' of price-level targeting have corresponding benefits; 4.9 Price-level targeting vs. average inflation targeting; 4.10 The history of price-level targeting; 4.11 Conclusion; References 5 A Price Targeting Regime Compared to a Non Price Targeting Regime. Is Price Stability a Good Idea?5.1 Introduction; 5.2 The ultimate objective of economic policy; 5.3 Modeling economic shocks; 5.3.1 Assumptions of the model; 5.4 The model; 5.5 Determining Equilibrium; 5.6 A money demand shock; 5.7 Aggregate demand shock; 5.8 An aggregate supply shock; 5.9 The search for an indicator; 5.10 Conclusions; References; 6 Optimal Monetary Policy with Endogenous Contracts: Is there a Case for Price-Level Targeting and Money Supply Control?; 6.1 Introduction 6.2 Considerations in designing monetary policy arrangements6.3 Monetary policy: Is inflation targeting the best we can do?; 6.4 Interest rate control - what does it do?; 6.5 Money supply targeting and feedback rules - a stochastic simulation analysis; 6.5.1 Comparing money- and price-level targeting; 6.5.2 Should we use interest rates rather than the money supply as the short-term instrument of control?; 6.5.3 How important is the zero bound in setting the inflation target rate?; 6.6 Conclusions; Annex: The representative agent model (RAM); References 7 Forecasting Inflation: The Inflation 'Fan Charts' |
Record Nr. | UNINA-9910143733103321 |
Chichester, England, : John Wiley, c2006 | ||
Materiale a stampa | ||
Lo trovi qui: Univ. Federico II | ||
|
Issues in monetary policy [[electronic resource] ] : the relationship between money and the financial markets / / edited by Kent Matthews, Philip Booth |
Pubbl/distr/stampa | Chichester, England, : John Wiley, c2006 |
Descrizione fisica | 1 online resource (212 p.) |
Disciplina |
332.46
339.5/3 |
Altri autori (Persone) |
MatthewsKent
BoothP <1964-> (Philip) |
Soggetto topico | Monetary policy |
ISBN |
1-119-20581-6
1-280-36227-8 9786610362271 0-470-03281-2 |
Formato | Materiale a stampa |
Livello bibliografico | Monografia |
Lingua di pubblicazione | eng |
Nota di contenuto |
Issues in Monetary Policy; Contents; List of Contributors; 1 Issues in Monetary Policy; 1.1 Introduction; 1.2 The monetarist counter-revolution; 1.3 Practice ahead of theory; 1.4 The dangers of practice without theory; References; 2 Monetary Policy: Practice Ahead of Theory; 2.1 Introduction; 2.2 What can monetary policy do?; 2.3 Learning and its implication for monetary policy; 2.4 Inflation targeting as a framework which accommodates learning; 2.5 Conclusion; References; 3 Are the Structure and Responsibilities of the Bank of England Optimal and If Not, Does It Matter?; 3.1 Introduction
3.2 Current arrangements3.3 The conventional theoretical macro model (CTMM); 3.3.1 Role of interest rates in the CTMM; 3.3.2 Time series considerations; 3.4 How the Bank's main macro model constrained the monetary debate; 3.5 The new Bank of England quarterly model; 3.6 The monetarist case for a big central bank; 3.7 Lessons from Britain's monetary history; 3.8 Main conclusions; References; 4 Why Price-Level Targeting is better than Inflation Targeting; 4.1 Introduction; 4.2 How do inflation targeting and price-level targeting differ?; 4.2.1 Long-term price stability 4.2.2 Short-term inflation volatility4.2.3 Output volatility; 4.3 What is there to gain from long-term price stability?; 4.4 Inflation volatility is not same thing as inflation uncertainty; 4.5 Price-level targeting generates its own credibility; 4.6 Price-level targeting is self-regulating; 4.7 Price-level targeting offers escape from a low-employment equilibrium; 4.8 The 'costs' of price-level targeting have corresponding benefits; 4.9 Price-level targeting vs. average inflation targeting; 4.10 The history of price-level targeting; 4.11 Conclusion; References 5 A Price Targeting Regime Compared to a Non Price Targeting Regime. Is Price Stability a Good Idea?5.1 Introduction; 5.2 The ultimate objective of economic policy; 5.3 Modeling economic shocks; 5.3.1 Assumptions of the model; 5.4 The model; 5.5 Determining Equilibrium; 5.6 A money demand shock; 5.7 Aggregate demand shock; 5.8 An aggregate supply shock; 5.9 The search for an indicator; 5.10 Conclusions; References; 6 Optimal Monetary Policy with Endogenous Contracts: Is there a Case for Price-Level Targeting and Money Supply Control?; 6.1 Introduction 6.2 Considerations in designing monetary policy arrangements6.3 Monetary policy: Is inflation targeting the best we can do?; 6.4 Interest rate control - what does it do?; 6.5 Money supply targeting and feedback rules - a stochastic simulation analysis; 6.5.1 Comparing money- and price-level targeting; 6.5.2 Should we use interest rates rather than the money supply as the short-term instrument of control?; 6.5.3 How important is the zero bound in setting the inflation target rate?; 6.6 Conclusions; Annex: The representative agent model (RAM); References 7 Forecasting Inflation: The Inflation 'Fan Charts' |
Record Nr. | UNINA-9910829821103321 |
Chichester, England, : John Wiley, c2006 | ||
Materiale a stampa | ||
Lo trovi qui: Univ. Federico II | ||
|
Issues in monetary policy [[electronic resource] ] : the relationship between money and the financial markets / / edited by Kent Matthews, Philip Booth |
Pubbl/distr/stampa | Chichester, England, : John Wiley, c2006 |
Descrizione fisica | 1 online resource (212 p.) |
Disciplina |
332.46
339.5/3 |
Altri autori (Persone) |
MatthewsKent
BoothP <1964-> (Philip) |
Soggetto topico | Monetary policy |
ISBN |
1-119-20581-6
1-280-36227-8 9786610362271 0-470-03281-2 |
Formato | Materiale a stampa |
Livello bibliografico | Monografia |
Lingua di pubblicazione | eng |
Nota di contenuto |
Issues in Monetary Policy; Contents; List of Contributors; 1 Issues in Monetary Policy; 1.1 Introduction; 1.2 The monetarist counter-revolution; 1.3 Practice ahead of theory; 1.4 The dangers of practice without theory; References; 2 Monetary Policy: Practice Ahead of Theory; 2.1 Introduction; 2.2 What can monetary policy do?; 2.3 Learning and its implication for monetary policy; 2.4 Inflation targeting as a framework which accommodates learning; 2.5 Conclusion; References; 3 Are the Structure and Responsibilities of the Bank of England Optimal and If Not, Does It Matter?; 3.1 Introduction
3.2 Current arrangements3.3 The conventional theoretical macro model (CTMM); 3.3.1 Role of interest rates in the CTMM; 3.3.2 Time series considerations; 3.4 How the Bank's main macro model constrained the monetary debate; 3.5 The new Bank of England quarterly model; 3.6 The monetarist case for a big central bank; 3.7 Lessons from Britain's monetary history; 3.8 Main conclusions; References; 4 Why Price-Level Targeting is better than Inflation Targeting; 4.1 Introduction; 4.2 How do inflation targeting and price-level targeting differ?; 4.2.1 Long-term price stability 4.2.2 Short-term inflation volatility4.2.3 Output volatility; 4.3 What is there to gain from long-term price stability?; 4.4 Inflation volatility is not same thing as inflation uncertainty; 4.5 Price-level targeting generates its own credibility; 4.6 Price-level targeting is self-regulating; 4.7 Price-level targeting offers escape from a low-employment equilibrium; 4.8 The 'costs' of price-level targeting have corresponding benefits; 4.9 Price-level targeting vs. average inflation targeting; 4.10 The history of price-level targeting; 4.11 Conclusion; References 5 A Price Targeting Regime Compared to a Non Price Targeting Regime. Is Price Stability a Good Idea?5.1 Introduction; 5.2 The ultimate objective of economic policy; 5.3 Modeling economic shocks; 5.3.1 Assumptions of the model; 5.4 The model; 5.5 Determining Equilibrium; 5.6 A money demand shock; 5.7 Aggregate demand shock; 5.8 An aggregate supply shock; 5.9 The search for an indicator; 5.10 Conclusions; References; 6 Optimal Monetary Policy with Endogenous Contracts: Is there a Case for Price-Level Targeting and Money Supply Control?; 6.1 Introduction 6.2 Considerations in designing monetary policy arrangements6.3 Monetary policy: Is inflation targeting the best we can do?; 6.4 Interest rate control - what does it do?; 6.5 Money supply targeting and feedback rules - a stochastic simulation analysis; 6.5.1 Comparing money- and price-level targeting; 6.5.2 Should we use interest rates rather than the money supply as the short-term instrument of control?; 6.5.3 How important is the zero bound in setting the inflation target rate?; 6.6 Conclusions; Annex: The representative agent model (RAM); References 7 Forecasting Inflation: The Inflation 'Fan Charts' |
Record Nr. | UNINA-9910841404103321 |
Chichester, England, : John Wiley, c2006 | ||
Materiale a stampa | ||
Lo trovi qui: Univ. Federico II | ||
|