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Monetary Policy and the Development of Money Markets

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Published by Routledge .
Written in English

Book details:

Edition Notes

Routledge Library Editions-Economics: Monetary Economics

The Physical Object
Number of Pages354
ID Numbers
Open LibraryOL7491179M
ISBN 100415313953
ISBN 109780415313957

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Additional Physical Format: Online version: Wilson, John Stuart Gladstone, Monetary policy and the development of money markets. London, Allen & Unwin, Monetary policy and the development of money markets. [J S G Wilson] -- This book traces the developments of the post-war monetary story, with an emphasis both on theory and practice. A survey of monetary policy and a discussion of the effects of a credit squeeze are set.   For example, the structure of the money market determines the extent and type of open market operations that are feasible; conversely, evidence and experience indicate that favorization by the monetary authorities of market-oriented policy instruments helps to foment a broader market : Jens Forssbæck, Lars Oxelheim. The chapter discusses the role of money and the financial sector in the economic development process, and the policy objectives suggested by that role. The emphasis is on the problems of implementing these policies. It begins with the behavior of the money supply.

Monetary policy has several important aims including eliminating unemployment, stabilizing prices, economic growth and equilibrium in the balance of payments. Monetary policy is planned to fulfill all these goals at once. Everyone agrees with these ambitions, but the path to achieve them is the subject of heated contention. Professor Mishkin’s research focuses on monetary policy and its impact on financial markets and the aggregate economy. He is the author of more than twenty books, including Macroeconomics: Policy and Practice, Second Edition (Pearson, ); Financial Markets and Institutions, Ninth Edition (Pearson, ); Monetary. Liquidity policy may need to be more active to contribute to the functioning of the money market, which exacerbates the scope for misunderstanding about monetary policy intentions. In the absence of a clear distinction, the danger exists that monetary policy and liquidity come to be seen as substitutes for one another, rather than having the. Using the DCC-GARCH model, this study investigates the transmission process of monetary policies from the money market to capital markets (stock and bond markets). The results show that in the early stage the instability of the money and stock markets and the downturn in the bond market are primarily caused by the block of monetary policy transmission and the paucity of fund sources in the capital markets.

B.M. Friedman, in International Encyclopedia of the Social & Behavioral Sciences, Monetary policy is one of the two principal means (the other being fiscal policy) by which government authorities in a market economy regularly influence the pace and direction of overall economic activity, importantly including not only the level of aggregate output and employment but also the general rate.   Central banks in emerging and developing economies (EMDEs) have been modernizing their monetary policy frameworks, often moving toward inflation targeting (IT). However, questions regarding the strength of monetary policy transmission from interest rates to inflation and output have often stalled progress. We conduct a novel empirical analysis using Jordà’s () approach for 40 . This book presents an introduction to central banking and monetary policy. We, the public, accept the following as money (M) (that is, the means of payments / medium of exchange): notes and coins (N&C) and bank deposits (BD).   The IEA was at the forefront of changing the parameters of the debate surrounding monetary policy in the s and s. This text, brings together some of the leading authors in the field, including the current Governor of the Bank of England, to discuss current issues in monetary policy and the relationship between monetary policy and.