Monetary policy implementation

theory-past-present

The first of its kind, this book is entirely dedicated to the implementation of monetary policy: how central banks go about achieving their monetary policy targets. Monetary policy implementation has gone through tremendous changes over the last twenty years, which have witnessed the quiet end ...

L'età delle banche centrali

forme e governo della moneta fiduciaria in una prospecttiva istituzionalista

Qual è il ruolo delle banche centrali, e come è andato evolvendosi negli oltre due secoli della loro esistenza? E quale logica evolutiva ha condotto ad attribuire loro una generalità di funzioni: istituto di emissione, prestatore di ultima istanza, responsabile della politica monetaria, gestore del ...

El Banco Central Europeo y el sistema europeo de bancos centrales

régimen jurídico de la autoridad monetaria de la Comunidad Europea

Il mercato monetario e la banca centrale

liquidità bancaria, politica monetaria, sistemi di pagamento

Il mercato monetario rappresenta il punto d'incontro tra la gestione della liquidità bancaria e la politica monetaria: da un lato, consente agli intermediari di ridistribuire la liquidità, contribuendo così al loro equilibrio finanziario; dall'altro, costituisce l'ambito di realizzazione della politica monetaria e ...

Lezioni di economia monetaria

La seconda edizione delle Lezioni di Economia Monetaria appare a due anni di distanza dalla prima e include alcuni importanti aggiornamenti istituzionali sulle strategie di politica monetaria, le procedure operative, la struttura e la governance della Federal Reserve e della Banca Centrale Europea. Nel complesso ...

How monetary policy works

For monetary policymakers worldwide, developing a practical understanding of how monetary policy transmits to the economy is a day-to-day challenge. The data such policymakers have is imperfect, the maps they use are continually redrawn. With such uncertainty, understanding this complicated issue is rarely straightforward. This ...

Monetary strategies for joining the euro

In this book, well-known economists an policymakers look at the next step in the integration process for accesssion countries: accession to European Monetary Union

The Euro and its Central Bank

getting united after the nion

This history and analysis of the euro and the European Central Bank traces the process of European monetary integration from its beginnings as a utopian vision in the aftermath of World War II through the establishment of a single currency managed by a central bank ...

European monetary integration

The success of European monetary integration -- called by the editors of this CESifo volume "one of the most far-reaching, real world experiments in monetary policy to date" -- is not assured. Policy makers have been forced to deal with challenges posed by formulating a uniform monetary ...

The nature of money

Mainstream economics fails to grasp the specific nature of money. It is seen either as a #neutral veil# over the operation of the #real# economy or alternatively as a #thing# # a special commodity. In this important new book, Geoffrey Ingham draws on neglected traditions in ...

Policy competition and policy cooperation in a monetary union

This book studies the interactions between monetary and fiscal policies in the Euro area. The policy makers are the union central bank, the German government, the French government and other governments. The policy targets are price stability in the union, full employment in Germany, full ...

Institutional conflicts and complementarities

This important collection presents an authoritative selection of papers on "Institutional Conflicts and Complementarities" This publication is intent on building bridges between economics and the other social sciences. The focus is on the interaction between monetary policy and wage bargaining institutions in European Monetary Union ...

The interaction of monetary policy and wage bargaining in the European Monetary Union

lessons from the endogenous money approach

Sebastian Dullien gives a novel explanation for unemployment and inflation in the Euro-Zone. He argues that unemployment stems from a lack of cooperation between unions and monetary authorities: In an economy with endogenous money as EMU, wage setters are responsible for price stability while the ...

The price of the Euro

This volume presents a critical examination of the EMU from different perspectives. It includes essays on the political economy of currency unions, on the Growth and Stability pact, the European Central Bank, an evaluation of the first four years of the EMU, and the costs ...

Explaining and forecasting the US federal funds rate

a monetary policy model for the US

This book has been written as a practical guide for finance markets professionals to explain US monetary policy and to make forecasts of future interest rate levels. Aimed at market players, familiar with US policy instruments, Explaining and Forecasting the US Federal Funds Rate will ...

The strategy and consistency of Federal Reserve monetary policy, 1924- 1933

Today, most scholars agree that mismanaged monetary policy contributed to the length and severity of the Great Depression. There is little agreement, however, about the causes of the Federal Reserve's mistakes. Some argue that leadership and other organizational changes prior to the depression caused ...

Money and the early greek mind

homer, philosophy, tragedy

How were the Greeks of the sixth century BC able to invent philosophy and tragedy? In this book Richard Seaford argues that a large part of the answer can be found in another momentous development, the invention and rapid spread of coinage which produced the ...

Central banking in the modern world

alternative perspectives

Monetarism is dead! Central bankers are all Wicksellians now! They target low inflation rates, with no regard to monetary aggregates whatsoever, by acting upon short-term real rates of interest. This is the New Consensus in monetary economics, or simply the New Keynesian Synthesis. Yet, this ...

Econometric modelling of European money demand

aggregation, cointegration, identification

The introduction of a single European currency constitutes a remarkable instance of internationalization of monetary policy. Whether a concomitant internationalization can be detected also in the econometric foundations of monetary policy is the problem dealt with in this book. Its basic theoretical ingredients comprise a ...

Central banking systems compared

The ECB, the pre-euro Bundesbank, and the Federal Reserve System