Monetary Policy In Interdependent Economies

Author : Matthew B. Canzoneri
Publisher : MIT Press
ISBN 13 : 9780262031783
Total Pages : 196 pages
Book Rating : 4.87/5 ( download)

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Download or read book Monetary Policy in Interdependent Economies written by Matthew B. Canzoneri and published by MIT Press. This book was released on 1991 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary Policy in Interdependent Economies provides the first comprehensive overview of the implications of using game theory to analyze interactions among national monetary policymakers. It synthesizes the pessimistic view of sovereign policymaking that results from the analysis of one-shot games with the optimistic view derived from the analysis of quid pro quo strategies in repeated games. Good outcomes, the authors conclude, require coordination among noncooperative policymakers, and that sometimes policymakers, must be forced to cooperate. They suggest two roles for supranational institutions such as the International Monetary Fund: the IMF can provide a forum where noncooperative policymakers, can work to achieve good outcomes, and it can police agreements among cooperative policymakers Canzoneri and Henderson take clear stands on controversial issues and make recent advances in game theory accessible by using a single unified framework to explain a wide range of concepts. They begin by analyzing one-shot interactions between two policymakers, In subsequent chapters they extend their analysis to allow for more policymakers, and coalitions, for repeated interactions among policymakers, and for the possibility of time inconsistency. Matthew B. Canzoneri is Professor of Economics at Georgetown University. Dale W. Henderson is Assistant Director, Division of International Finance, Board of Governors of the Federal Reserve System.

Author : Ioanna T. Kokores
Publisher : Springer Nature
ISBN 13 : 3031419588
Total Pages : 255 pages
Book Rating : 4.84/5 ( download)

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Download or read book Monetary Policy in Interdependent Economies written by Ioanna T. Kokores and published by Springer Nature. This book was released on 2023-10-04 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 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.

Author : Ralph C. Bryant
Publisher : Washington, D.C. : Brookings Institution
ISBN 13 :
Total Pages : 612 pages
Book Rating : 4.72/5 ( download)

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Download or read book Money and Monetary Policy in Interdependent Nations written by Ralph C. Bryant and published by Washington, D.C. : Brookings Institution. This book was released on 1980 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Silke Fabian
Publisher : Springer Science & Business Media
ISBN 13 : 3642500293
Total Pages : 175 pages
Book Rating : 4.99/5 ( download)

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Download or read book Exchange Rate Management in Interdependent Economies written by Silke Fabian and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the breakdown of the Bretton Woods System and the begin of floating between the major currencies, central banks have been formally freed from their obligations to defend the fixed parities of bilateral exchange rates. Nev ertheless, since then there have been countless occasions on which monetary authorities have officially intervened in the foreign exchange market. More over, numerous studies indicate that exchange rates have been much more variable than originally anticipated - in real and in nominal, as well as in short run and longer run measures (see for example Hesse and Braasch [1989] and Marston [1988]). Through the experience of high real sector costs, the topic of optimal exchange rate management soon reentered policy discussions. The term exchange rate management encompasses both the choice of ex change rate regime as well as active intervention policies within the given 1 system. Much of the recent policy discussion has focussed on the first issue, in particular proposals of how to reform the present international monetary order. And new systems such as the European Monetary System (EMS) have emerged for subgroups of countries. However, the question of finding the optimal system has not yet been resolved.

Author : Mr.Paul R. Masson
Publisher : International Monetary Fund
ISBN 13 : 9781557751119
Total Pages : 438 pages
Book Rating : 4.10/5 ( download)

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Download or read book Macroeconomic Policies in an Interdependent World written by Mr.Paul R. Masson and published by International Monetary Fund. This book was released on 1989-06-15 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: Copublished with the Brookings Institution, Washington D.C. and the Centre for Economic Policy Research, London, and edited by Ralph Bryant, David Currie, Jacob A. Frenkel, Paul Masson, and Richard Portes, this volume considers economic interdependence among well developed countries as well as between them and the developing regions of the world.

Author : Rakesh Mohan
Publisher : International Monetary Fund
ISBN 13 : 1484362519
Total Pages : 34 pages
Book Rating : 4.18/5 ( download)

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Download or read book Monetary Policy Coordination and the Role of Central Banks written by Rakesh Mohan and published by International Monetary Fund. This book was released on 2014-04-29 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The unconventional monetary policies (UMPs) pursued by the advanced economies (AEs) have posed macroeconomic challenges for the emerging market economies (EMEs) through volatile capital flows and exchange rates. AE central banks need to acknowledge and appreciate the spillovers resulting from such UMPs. Central banks of the AEs, who have set up standing mutual swap facilities, should explore similar arrangements with other significant EMEs with appropriate risk mitigation measures. These initiatives could do much to actually curb volatility in global financial markets and hence in capital flows to EMEs, thus obviating the need for defensive policy actions on the part of EMEs.

Author : Richard N. Cooper
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.05/5 ( download)

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Download or read book Macroeconomic Policy Adjustment in Interdependent Economies written by Richard N. Cooper and published by . This book was released on 1969 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Anthony S. Courakis
Publisher : Oxford University Press, USA
ISBN 13 :
Total Pages : 472 pages
Book Rating : 4.80/5 ( download)

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Download or read book Private Behaviour and Government Policy in Interdependent Economies written by Anthony S. Courakis and published by Oxford University Press, USA. This book was released on 1990 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Giovanni Lombardo
Publisher :
ISBN 13 : 9783935821780
Total Pages : 24 pages
Book Rating : 4.86/5 ( download)

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Download or read book Policy Instrument Choice and Non-coordinated Monetary Policy in Interdependent Economies written by Giovanni Lombardo and published by . This book was released on 2004 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Jordi Galí
Publisher : University of Chicago Press
ISBN 13 : 0226278875
Total Pages : 663 pages
Book Rating : 4.72/5 ( download)

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Download or read book International Dimensions of Monetary Policy written by Jordi Galí and published by University of Chicago Press. This book was released on 2010-03-15 with total page 663 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.