Monetary Policy Implementation: Theory, Past, and Present
Ulrich Bindseil
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 of 'reserve position doctrine' and the return of an explicit focus on short-term interest rates. This book argues that reserve position doctrine has never, and could never, be seriously put into practice. Providing a simple theory of monetary policy implementation, Bindseil goes on to explain the role of the three main instruments (open market operations, standing facilities, and reserve requirements) and reviews their use in the twentieth century.
Thể loại:
Năm:
2005
Nhà xuát bản:
Oxford University Press, USA
Ngôn ngữ:
english
Trang:
276
ISBN 10:
1435607163
ISBN 13:
9781435607163
File:
PDF, 1.57 MB
IPFS:
,
english, 2005
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