Monetary policy: rules and transmission mechanisms

Monetary policy must consider the bidirectional relationship between the economy and its central bank. It should therefore address two essential questions: first, how changes in the economy induce a reaction by the central bank, and second, how these policy changes are in turn transmitted to the ec...

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Otros Autores:	Loayza O., Norman
Formato:	Libro
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	POLÍTICA MONETARIA BANCOS CENTRALES CONTROL DE PRECIOS
Acceso en línea:	https://hdl.handle.net/20.500.12580/1651
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spelling	oai-20.500.12580-16512021-04-24T05:03:24Z Monetary policy: rules and transmission mechanisms Loayza O., Norman Schmidt-Hebbel, Klaus POLÍTICA MONETARIA BANCOS CENTRALES CONTROL DE PRECIOS Monetary policy must consider the bidirectional relationship between the economy and its central bank. It should therefore address two essential questions: first, how changes in the economy induce a reaction by the central bank, and second, how these policy changes are in turn transmitted to the economy. The essays in this volume present and discuss some recent advances in research on monetary policy rules and monetary transmission mechanisms. In addressing these issues, the papers take a variety of approaches, from case studies on developed and emerging economies to cross-country empirical analyses, and from theoretical models to historical narrative. Together they clarify some key issues of monetary policy, such as the tradeoff between output and inflation volatilities, the importance of central bank credibility, the additional complexities of policymaking in open economies, and the limits that uncertainty places on policy decisions. Monetary Policy Functions and Transmission Mechanisms: An Overview / Norman Loayza, Klaus Schmidt-Hebbel -- The Monetary Transmission Mechanism and the Evaluation of Monetary Policy Rules / John B. Taylor -- Policy Rules and External Shocks / Laurence Ball -- Optimal Monetary Policy Rules when the Current Account Matters / Juan Pablo Medina, Rodrigo O. Valdés -- Optimal Monetary Policy Rules under Inflation Range Targeting / Juan Pablo Medina, Rodrigo O. Valdés -- Monetary Policy in Latin America in the 1990s / Vittorio Corbo -- The Effect of Uncertainty on Monetary Policy: How Good are the Brakes? / Adam Cagliarini, Guy Debelle -- Monetary Policy in Chile: A Black Box? / Ángel Cabrera, Luis Felipe Lagos -- Does Inflation Targeting Increase Output Volatility?: An International Comparison of Policymakers' Preferences and Outcomes / Stephen G. Cecchetti, Michael Ehrmann -- Optimal Monetary Policy in a Small, Open Economy: A General-Equilibrium Analysis / Charles T. Carlstrom, Timothy S. Fuerst -- Policy Biases when the Monetary and Fiscal Authorities Have Different Objectives / Herman Bennett, Norman Loayza -- The Monetary Transmission Mechanism in the United Kingdom: Pass-Through and Policy Rules / Alastair Cunningham, Andrew G. Haldane -- The Monetary Policy Transmission Mechanism and Policy Rules in Canada / David Longworth, Brian O'Reilly -- Monetary Policy Rules and Transmission Mechanisms under Inflation Targeting in Israel / Leonardo Leiderman, Hadas Bar-Or -- Estimating Monetary Policy Rules for South Africa / Janine Aron, John Muellbauer. 2019-11-01T00:01:10Z 2019-11-01T00:01:10Z 2002 Libro 956-7421-099 https://hdl.handle.net/20.500.12580/1651 eng Series on Central Banking, Analysis, and Economic Policies, no. 4 Serie Banca Central, análisis y políticas económicas, no. 4 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Documento Completo 475 p. application/pdf Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	eng
topic	POLÍTICA MONETARIA BANCOS CENTRALES CONTROL DE PRECIOS
spellingShingle	POLÍTICA MONETARIA BANCOS CENTRALES CONTROL DE PRECIOS Monetary policy: rules and transmission mechanisms
description	Monetary policy must consider the bidirectional relationship between the economy and its central bank. It should therefore address two essential questions: first, how changes in the economy induce a reaction by the central bank, and second, how these policy changes are in turn transmitted to the economy. The essays in this volume present and discuss some recent advances in research on monetary policy rules and monetary transmission mechanisms. In addressing these issues, the papers take a variety of approaches, from case studies on developed and emerging economies to cross-country empirical analyses, and from theoretical models to historical narrative. Together they clarify some key issues of monetary policy, such as the tradeoff between output and inflation volatilities, the importance of central bank credibility, the additional complexities of policymaking in open economies, and the limits that uncertainty places on policy decisions.
author2	Loayza O., Norman
author_facet	Loayza O., Norman
format	Libro
title	Monetary policy: rules and transmission mechanisms
title_short	Monetary policy: rules and transmission mechanisms
title_full	Monetary policy: rules and transmission mechanisms
title_fullStr	Monetary policy: rules and transmission mechanisms
title_full_unstemmed	Monetary policy: rules and transmission mechanisms
title_sort	monetary policy: rules and transmission mechanisms
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/1651
_version_	1718347114840326144

Monetary policy: rules and transmission mechanisms

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