The Federal Reserve System Purposes and Functions
The Federal Reserve System Purposes and Functions

Author: Board of Governors of the Federal Reserve System

Publisher:

Published: 2002

Total Pages: 0

ISBN-13: 9780894991967

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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.

International Dimensions of Monetary Policy
International Dimensions of Monetary Policy

Author: Jordi Galí

Publisher: University of Chicago Press

Published: 2010-03-15

Total Pages: 663

ISBN-13: 0226278875

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United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous shocks. Such an assumption is increasingly unrealistic in the age of integrated capital markets, tightened links between national economies, and reduced trading costs. International Dimensions of Monetary Policy brings together fresh research to address the repercussions of the continuing evolution toward globalization for the conduct of monetary policy. In this comprehensive book, the authors examine the real and potential effects of increased openness and exposure to international economic dynamics from a variety of perspectives. Their findings reveal that central banks continue to influence decisively domestic economic outcomes—even inflation—suggesting that international factors may have a limited role in national performance. International Dimensions of Monetary Policy will lead the way in analyzing monetary policy measures in complex economies.

Objectives of Monetary Policy
Objectives of Monetary Policy

Author: Christian Nicke

Publisher: GRIN Verlag

Published: 2007-12-04

Total Pages: 23

ISBN-13: 3638870596

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Essay from the year 2007 in the subject Business economics - Economic Policy, grade: 4,0 (gut), University of Pécs (Faculty of Business and Economics), course: Corporate Finance, language: English, abstract: Two fields of policy have a strong impact on a national economy and its development. The first of the two policies that are designed to supplement each other, falls into governments responsibility, more exactly it is formulated by the minister of finance. This one is fiscal policy. The second one, monetary policy, is designed by the national bank. For making clear the difference between both I would like to explain both policies as an introduction to the topic of this paper. “The government’s choice of tax and spending programs, which influences the amount and maturity of government debt as well as the level, composition, and distribution of national output and income. Many summary indicators of fiscal policy exist. Some, such as the budget surplus or deficit, are narrowly budgetary. Others attempt to reflect aspects of how fiscal policy affects the economy. For example, a decrease in the standarized-budget surplus (or increase in the standarized-budget deficit) measures the short-term stimulus of demand that results from higher spending or lower taxes. The fiscal gap measures whether current fiscal policy implies a budget that is close enough to balance to be sustainable over the long term. The fiscal gap represents the amount by which taxes would have to be raised, or spending cut, to keep the ratio of debt to GDP from rising forever. Other important measures of fiscal policy include the ratios of total taxes and total spending to GDP.” In the way of deciding about the amount of expenditures and premises for spending, fiscal policy is an important tool for government for setting macroeconomic conditions.

Japanese Monetary Policy
Japanese Monetary Policy

Author: Kenneth J. Singleton

Publisher: University of Chicago Press

Published: 2007-12-01

Total Pages: 208

ISBN-13: 0226760685

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How has the Bank of Japan (BOJ) helped shape Japan's economic growth during the past two decades? This book comprehensively explores the relations between financial market liberalization and BOJ policies and examines the ways in which these policies promoted economic growth in the 1980s. The authors argue that the structure of Japan's financial markets, particularly restrictions on money-market transactions and the key role of commercial banks in financing corporate investments, allowed the BOJ to influence Japan's economic success. The first two chapters provide the most in-depth English-language discussion of the BOJ's operating procedures and policymaker's views about how BOJ actions affect the Japanese business cycle. Chapter three explores the impact of the BOJ's distinctive window guidance policy on corporate investment, while chapter four looks at how monetary policy affects the term structure of interest rates in Japan. The final two chapters examine the overall effect of monetary policy on real aggregate economic activity. This volume will prove invaluable not only to economists interested in the technical operating procedures of the BOJ, but also to those interested in the Japanese economy and in the operation and outcome of monetary reform in general.

Money and Monetary Policy in Less Developed Countries
Money and Monetary Policy in Less Developed Countries

Author: Warren L. Coats

Publisher: Elsevier

Published: 2014-05-19

Total Pages: 842

ISBN-13: 148315730X

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Money and Monetary Policy in Less Developed Countries: A Survey of Issues and Evidence focuses on monetary policy, the financial intermediation process, and the role of money in economic development in less developed countries (LDCs). Topics covered include financial development and economic growth in underdeveloped countries; instruments and techniques used in the implementation of monetary policy: and econometric policy models. This book is comprised of 46 chapters and begins with a discussion on the main lines of thought in the field of money and monetary policy in LDCs, with emphasis on the significant empirical results. The reader is then introduced to the role of money in the development process; production and monetization in the subsistence sector; some aspects of financial policies and central banking in developing countries; and the efficacy of monetary rules for LDCs. The subsequent chapters explore monetary policy instruments such as interest rates, credit controls, and exchange rates; credit policy and the balance of payments in developing countries; and price and output behavior in the Indian economy from 1951 to 1973. A semiannual macroeconometric model of the Philippines for the period 1967-1976 is also described. This monograph will be a valuable resource for economists, economic policymakers, and central bankers as well as students.