Monetary Policy Implementation: Theory, past, and present by Ulrich Bindseil

Monetary Policy Implementation: Theory, past, and present

byUlrich Bindseil

Hardcover | April 6, 2006

not yet rated|write a review

Pricing and Purchase Info

$267.00

Earn 1335 plum® points

In stock online

Ships free on orders over $25

Not available in stores

about

The first of its kind, this book is entirely dedicated to the implementation of monetary policy. 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 focuson short-term interest rates. Enthusiastically supported by Keynes and later by the monetarist school, reserve position doctrine was developed mainly by US central bankers and academics during the early 1920s, and at least in the US became the unchallenged dogma of monetary policy implementation for sixty years. The return ofinterest rate targeting also corresponds largely to the restoration of central banking principles established in the late 19th century.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. In closing, he summarizes current views on efficientmonetary policy implementation.

About The Author

Ulrich Bindseil is Deputy Head of the Risk Management Division at the European Central Bank (ECB). Previously, he worked at the Deutsche Bundesbank and at the European Monetary Institute. From 2000 to 2004, he was Head of the ECB's Liquidity Management Section.
Risk Management for Central Banks and Other Public Investors
Risk Management for Central Banks and Other Public Investors

by Ulrich Bindseil

$70.39$87.93

Available for download

Not available in stores

Monetary Policy Operations and the Financial System
Monetary Policy Operations and the Financial System

by Ulrich Bindseil

$88.17$94.50

Out of stock online

Not available in stores

Details & Specs

Title:Monetary Policy Implementation: Theory, past, and presentFormat:HardcoverDimensions:288 pages, 9.21 × 6.14 × 0.81 inPublished:April 6, 2006Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199274541

ISBN - 13:9780199274543

Customer Reviews of Monetary Policy Implementation: Theory, past, and present

Reviews

Extra Content

Table of Contents

Preface1. Monetary policy implementation within the theory of monetary policy2. The central bank balance sheet and the quantity side of monetary policy implementation3. The control of short-term interest rates: a simple model4. Standing facilities5. Open market operations6. Reserve requirements7. Practice of monetary policy implementation in the 20th century8. From the old to the new view on monetary policy implementation