Monetary Policy Implementation: Theory, Past, and Present

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Monetary Policy Implementation: Theory,...

Monetary Policy Implementation: Theory, Past, and Present

Name: Monetary Policy Implementation: Theory, Past, and Present
ISBN: 9781435607163

Ulrich Bindseil

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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.

种类:

Business & Economics

年:

2005

出版社:

Oxford University Press, USA

语言:

english

页:

276

ISBN 10:

1435607163