Central Bank Independence And The Conduct Of Monetary Policy In The United Kingdom
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Author | : Mr.Jan Kees Martijn |
Publisher | : International Monetary Fund |
Total Pages | : 23 |
Release | : 1999-12-01 |
Genre | : Business & Economics |
ISBN | : 145185840X |
The U.K. monetary policy framework, which combines inflation targeting with operational independence, provides a suitable arrangement for focused and credible monetary policy. However, potential weaknesses could result from features that have not yet been fully tested: the credibility and transparency of the inflation forecasts, which form the core of policy decisions, have diminished as a result of independence; and the framework could encourage excessive activism and frequent changes in interest rates. Although policy coordination could also suffer from independence, the new partly rules-based fiscal and monetary regimes will promote overall macroeconomic stability.
Author | : International Monetary Fund |
Publisher | : |
Total Pages | : |
Release | : 2000 |
Genre | : |
ISBN | : |
Author | : Jan Kees Martijn |
Publisher | : |
Total Pages | : 22 |
Release | : 2006 |
Genre | : |
ISBN | : |
The U.K. monetary policy framework, which combines inflation targeting with operational independence, provides a suitable arrangement for focused and credible monetary policy. However, potential weaknesses could result from features that have not yet been fully tested: the credibility and transparency of the inflation forecasts, which form the core of policy decisions, have diminished as a result of independence; and the framework could encourage excessive activism and frequent changes in interest rates. Although policy coordination could also suffer from independence, the new partly rules-based fiscal and monetary regimes will promote overall macroeconomic stability.
Author | : Centre for Economic Policy Research (Great Britain) |
Publisher | : |
Total Pages | : 90 |
Release | : 1993 |
Genre | : Business & Economics |
ISBN | : |
This volume examines how inflationary or deflationary pressures might be avoided through a new mandate for the Bank of England and raises issues crucial to understanding monetary policy and the role of central banks.
Author | : John H. Wood |
Publisher | : Edward Elgar Publishing |
Total Pages | : 313 |
Release | : 2022-11-15 |
Genre | : Business & Economics |
ISBN | : 1803926600 |
It is widely believed that central banks have grown (the Bank of England) or were established (the Federal Reserve) to pursue the twin objectives of monetary and price stability. But why should they? Central bankers are people, too, whose behavior is presumably determined, like the rest of us, by their incentives and the information available to them. The author explores this question.
Author | : Jan Kees Martijn |
Publisher | : |
Total Pages | : 21 |
Release | : 1999 |
Genre | : |
ISBN | : |
Author | : Paul Tucker |
Publisher | : Princeton University Press |
Total Pages | : 662 |
Release | : 2019-09-10 |
Genre | : Business & Economics |
ISBN | : 0691196303 |
Tucker presents guiding principles for ensuring that central bankers and other unelected policymakers remain stewards of the common good.
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 92 |
Release | : 1999-05-14 |
Genre | : Business & Economics |
ISBN | : 1451814089 |
This Selected Issues paper examines the operational independence and the conduct of monetary policy in the United Kingdom. The paper describes the inflation targeting framework and the analytics of the decision-making process. It suggests that inflation targeting, although not entirely new in terms of the basic idea, is a rather significant step toward establishing a workable and well-defined framework for monetary policy. The paper also describes structure, mandate, and policy issues associated with the financial services authority.
Author | : Ranajoy Ray Chaudhuri |
Publisher | : Springer |
Total Pages | : 406 |
Release | : 2018-10-29 |
Genre | : Business & Economics |
ISBN | : 1137589124 |
This book examines the linkage between central bank structure, central bank autonomy—with respect to setting its monetary policy goals, choosing its policy mechanisms, legal independence, and financial independence—and monetary policy, both in select benchmark countries and at a broader theoretical level. Country-specific chapters on the US, UK, Germany, Greece, Russia, India, China, Japan, Brazil, and South Africa focus on the history, administrative structure, and independence of the central monetary authority in these countries. The chapters go on to explore the countries’ conduct of monetary policy, their interplay with political forces and the wider economy, their currency, and their macroeconomic outcomes. The book will appeal to researchers, students of economics, finance and business, as well as general readers with an interest in the subject.
Author | : Board of Governors of the Federal Reserve System |
Publisher | : |
Total Pages | : 0 |
Release | : 2002 |
Genre | : Banks and Banking |
ISBN | : 9780894991967 |
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.