Monetary Transmission in Diverse Economies

ISBN-13: 9780521813464 / Angielski / Twarda / 2002 / 276 str.

Lavan Mahadeva; Peter Sinclair; Gabriel Stern

Opis

Monetary policy mistakes can cause serious economic damage. Central banks and their worldwide observers must strive to understand the transmission mechanism of monetary policy so that they know what monetary policy can do and what it should do to stabilize inflation and output--however imprecise that understanding may be. This volume sets out different aspects of the transmission mechanism, covering practical difficulties, as well as focusing on key areas such as the exchange rate and the monetary sector. The experiences of many countries are explained.

Recenzje

Review of the hardback: '… the papers unsurprisingly maintain a high standard and make for very worthwhile reading …' International Affairs

Spis treści

1. Introduction - the transmission mechanism and monetary policy Lavan Mahadeva and Peter Sinclair; 2. Are the effects of monetary policy in the Euro area greater in recessions than in booms? Gert Peersman and Frank Smets; 3. Supply shocks and the 'Natural rate of interest': an exploration Jagjit S. Chadha and Charles Nolan; 4. Some econometrics issues in measuring the monetary transmission mechanism, with an application to developing countries Derick Boyd and Ron Smith; 5. Central bank goals, institutional change and monetary policy: evidence from the United States and United Kingdom V. Anton Muscatelli and Carmine Trecroci; 6. The transmission mechanism of monetary policy near zero interest rates: the Japanese experience, 1998–2000 Kazuo Ueda; 7. What does the UK's monetary policy and inflation experience tell us about the transmission mechanism? Edward Nelson; 8. Modelling the transmission mechanism of monetary policy Peter Westaway; 9. Empirical evidence for credit effects in the transmission mechanism of the United Kingdom K. Alec Chrystal and Paul Mizen; 10. Uncovered interest parity with fundamentals: a Brazilian exchange rate forecast model Marcelo Kfoury Muinhos, Paulo Springer De Freitas and Fabio Araujo; 11. Uncovered interest parity and the monetary transmission mechanism G. Meredith.