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Author: Bill English Publisher: ISBN: 9781912179442 Category : Banks and banking, Central Languages : en Pages : 434
Book Description
"As Covid-19 spread in early 2020, many central banks were still struggling to boost inflation. The abruptness and speed of the economic deterioration, the sharp increase in market volatility, and the blinding uncertainty over the impact of the pandemic motivated a central bank reaction that was unprecedented in terms of size, speed and scope. This book summarises the responses by sixteen central banks from both advanced and emerging economies – with chapters written by senior central bank officials and economists in each of the countries to explain the actions taken. While responses varied across countries, there are several common threads: the size, speed and breadth of the responses; the reliance on a more multidimensional set of tools; and the ability of emerging markets to behave more like advanced economies."--Abstract.
Author: Bill English Publisher: ISBN: 9781912179442 Category : Banks and banking, Central Languages : en Pages : 434
Book Description
"As Covid-19 spread in early 2020, many central banks were still struggling to boost inflation. The abruptness and speed of the economic deterioration, the sharp increase in market volatility, and the blinding uncertainty over the impact of the pandemic motivated a central bank reaction that was unprecedented in terms of size, speed and scope. This book summarises the responses by sixteen central banks from both advanced and emerging economies – with chapters written by senior central bank officials and economists in each of the countries to explain the actions taken. While responses varied across countries, there are several common threads: the size, speed and breadth of the responses; the reliance on a more multidimensional set of tools; and the ability of emerging markets to behave more like advanced economies."--Abstract.
Author: Çagatay Basarir Publisher: Rowman & Littlefield ISBN: 1793645566 Category : Business & Economics Languages : en Pages : 227
Book Description
The book makes an effort in investigating the present and future developments in the financial system, after the COVID-19 Pandemic. The effects of health issues and epidemic diseases influencing the country economies and expected to influence to effect in the future in terms of banking sector especially Central Banking will be discussed. People who take this work will be able to look at events from different windows about money, banking, Central Banks, historical transformation of the banking sector and the relations among the entire financial system and policy makers and also their current issues.
Author: Mustafa Yağcı Publisher: Taylor & Francis ISBN: 1000935833 Category : Business & Economics Languages : en Pages : 307
Book Description
This book addresses the urgent need to examine central bank policies in response to the global supply and demand shock brought on by the Covid-19 pandemic, asking whether central banks are doing enough to address inequalities and concerns around climate change and emerging technologies. Adopting an interdisciplinary, critical perspective, the contributors to this volume provide novel theoretical, methodological, and empirical insights on central banks around the world, including in advanced, emerging and developing economies. The chapters in this book explore the evolution of central bank mandates, the policy tools central banks are utilizing, why and how monetary policy takes different shapes (including unconventional monetary policy), the key dynamics influencing central bank policies, how central banks are adapting to the new realities and addressing emerging challenges, and how monetary policy is perceived in the wider economic policy framework. With novel theoretical approaches and diverse empirical evidence from a variety of countries, this book will appeal to readers interested in central banking, monetary policy, the economics of the pandemic and political economy.
Author: Mustafa Yağcı Publisher: ISBN: 9781003323280 Category : Banks and banking, Central Languages : en Pages : 0
Book Description
"This book addresses the urgent need to examine central bank policies in response to the global supply and demand shock brought on by the Covid-19 pandemic, asking whether central banks are doing enough to address inequalities and concerns around climate change and emerging technologies. Adopting an interdisciplinary, critical perspective, the contributors to this volume provide novel theoretical, methodological, and empirical insights on central banks around the world, including in advanced, emerging and developing economies. The chapters in this book explore the evolution of central bank mandates, the policy tools central banks are utilizing, why and how monetary policy takes different shapes (including unconventional monetary policy), the key dynamics influencing central bank policies, how central banks are adapting to the new realities and addressing emerging challenges, and how monetary policy is perceived in the wider economic policy framework. With novel theoretical approaches and diverse empirical evidence from a variety of countries, this book will appeal to readers interested in central banking, monetary policy, the economics of the pandemic and political economy"--
Author: Michal Brzoza-Brzezina Publisher: International Monetary Fund ISBN: 1616356308 Category : Business & Economics Languages : en Pages : 42
Book Description
We study the macroeconomic effects of the COVID-19 epidemic in a quantitative dynamic general equilibrium setup with nominal rigidities. We evaluate various containment policies and show that they allow to dramatically reduce the welfare cost of the disease. Then we investigate the role that monetary policy, in its capacity to manage aggregate demand, should play during the epidemic. According to our results, treating the observed output contraction as a standard recession leads to overly expansionary policy. Finally, we check how central banks should resolve the trade-off between stabilizing the economy and containing the epidemic. If no administrative restrictions are in place, the second motive prevails and, despite the deep recession, optimal monetary policy is in fact contractionary. Conversely, if sufficient containment measures are introduced, central bank interventions should be expansionary and help stabilize economic activity.
Author: Ben S. Bernanke Publisher: W. W. Norton & Company ISBN: 1324020474 Category : Business & Economics Languages : en Pages : 448
Book Description
21st Century Monetary Policy takes readers inside the Federal Reserve, explaining what it does and why. In response to the COVID-19 pandemic, the Federal Reserve deployed an extraordinary range of policy tools that helped prevent the collapse of the financial system and the U.S. economy. Chair Jerome Powell and his colleagues lent directly to U.S. businesses, purchased trillions of dollars of government securities, pumped dollars into the international financial system, and crafted a new framework for monetary policy that emphasized job creation. These strategies would have astonished Powell’s late-20th-century predecessors, from William McChesney Martin to Alan Greenspan, and the advent of these tools raises new questions about the future landscape of economic policy. In 21st Century Monetary Policy, Ben S. Bernanke—former chair of the Federal Reserve and one of the world’s leading economists—explains the Fed’s evolution and speculates on its future. Taking a fresh look at the bank’s policymaking over the past seventy years, including his own time as chair, Bernanke shows how changes in the economy have driven the Fed’s innovations. He also lays out new challenges confronting the Fed, including the return of inflation, cryptocurrencies, increased risks of financial instability, and threats to its independence. Beyond explaining the central bank’s new policymaking tools, Bernanke also captures the drama of moments when so much hung on the Fed’s decisions, as well as the personalities and philosophies of those who led the institution.
Author: Pragyan Deb Publisher: ISBN: 9781513550251 Category : Languages : en Pages : 44
Book Description
Containment measures are crucial to halt the spread of the 2019 COVID-19 pandemic but entail large short-term economic costs. This paper tries to quantify these effects using daily global data on real-time containment measures and indicators of economic activity such as Nitrogen Dioxide (NO2) emissions, flights, energy consumption, maritime trade, and mobility indices. Results suggest that containment measures have had, on average, a very large impact on economic activity--equivalent to a loss of about 15 percent in industrial production over a 30-day period following their implementation. Using novel data on fiscal and monetary policy measures used in response to the crisis, we find that these policy measures were effective in mitigating some of these economic costs. We also find that while workplace closures and stay-at-home orders are more effective in curbing infections, they are associated with the largest economic costs. Finally, while easing of containment measures has led to a pickup in economic activity, the effect has been lower (in absolute value) than that from the tightening of measures.
Author: de Haan, Jakob Publisher: Edward Elgar Publishing ISBN: 1839104872 Category : Business & Economics Languages : en Pages : 125
Book Description
Written by two expert economists, this comprehensive Advanced Introduction provides a thorough and up-to-date analysis of central banks and monetary policy, analysing the ways in which views about monetary policy have developed and changed.
Author: Michael D. Bordo Publisher: Hoover Press ISBN: 081792566X Category : Business & Economics Languages : en Pages : 258
Book Description
With the inflation rate in the United States and many other countries on the rise for over a year and nearing double digits, the Hoover Institution hosted its 2022 conference on monetary policy. Policy makers, market participants, and academic researchers gathered to discuss the situation. Many agreed that low interest rates and high money growth were inappropriate given the high inflation rate and evidence that the United States has recovered from the deep recession induced by the pandemic and its policy response in 2020. The thoughtful papers and the thorough discussions in this volume of conference proceedings illustrate the debate about the reasons for this mismatch, as well as how to get back on track. They reflect a range of opinions and perspectives, including examination of the fiscal shock resulting from the COVID pandemic and the related borrowing and spending; emphasis on the value of adherence to rules versus discretion in setting Fed policy; lessons from history in the spikes in federal expenditures during times of war (including the pandemic) and in the timing of the Fed's use of its policy instruments; the role of central banks in the emerging inflation crisis; and strategies toward disinflation.
Author: Bill English
Author: Bill English
Author: Çagatay Basarir
Author: Mustafa Yağcı
Author: Mustafa Yağcı
Author: Michal Brzoza-Brzezina
Author: Ben S. Bernanke
Author: Angelo Baglioni
Author: Pragyan Deb
Author: de Haan, Jakob
Author: Michael D. Bordo