Monetary policy operations and the financial system (Record no. 25192)

MARC details
ISBN
International Standard Book Number 9780198716907
DEWEY DECIMAL CLASSIFICATION NUMBER
Call number 332.46
MAIN ENTRY--PERSONAL AUTHOR
Authors Bindseil, Ulrich,
Dates 1969-
TITLE STATEMENT
Title Monetary policy operations and the financial system
Statement of responsibility, etc. Ulrich Bindseil
PHYSICAL DESCRIPTION
Extent xiii, 320 p. :
Other Details ill. ;
Size 24 cm.
BIBLIOGRAPHY, ETC. NOTE
Note Includes bibliographical references and index.
SUMMARY
Summary Since 2007, central banks of industrialized countries have counteracted financial instability, recession, and deflationary risks with unprecedented monetary policy operations. While generally regarded as successful, these measures also led to an exceptional increase in the size of central bank balance sheets. The book first introduces the subject by explaining monetary policy operations in normal times, including the key instruments (open market operations, standing facilities, reserve requirements, and the collateral framework). Second, the book reviews the basic mechanics of financial crises as they have hit economies many times. The book then explains what central banks need to do to when financial markets and banks are impaired to fulfil their monetary policy and financial stability mandates. Besides demonstrating the need for non-conventional monetary policy measures, the book also highlights their dangers, such as moral hazard and increased central bank risk taking. The book draws a number of lessons from the crisis on non-conventional monetary policy operations, assessing what measures have worked well, and how a framework should be designed in future normal times such as to contribute to make financial crises less likely. Central bank monetary policy operations have traditionally been considered as a matter of practice, while the macroeconomic modelling of the transmission mechanism of monetary policy is regarded as a discipline relying on substantial theory ('monetary economics'). However, monetary policy operations can equally benefit from a theory, and from a normative framework to guide policy choices.
SUBJECT ADDED ENTRY--TOPICAL TERM
Topical Heading Monetary policy
SUBJECT ADDED ENTRY--TOPICAL TERM
Topical Heading Banks and banking, Central
SUBJECT ADDED ENTRY--TOPICAL TERM
Topical Heading Financial institutions, International
ELECTRONIC LOCATION AND ACCESS
Uniform Resource Identifier <a href="https://uowd.box.com/s/mp0qmn4vc5hxgcejykp5ram6yp2fjwxq">https://uowd.box.com/s/mp0qmn4vc5hxgcejykp5ram6yp2fjwxq</a>
Public note Location Map
MAIN ENTRY--PERSONAL AUTHOR
-- 48565
SUBJECT ADDED ENTRY--TOPICAL TERM
-- 8087
SUBJECT ADDED ENTRY--TOPICAL TERM
-- 31558
SUBJECT ADDED ENTRY--TOPICAL TERM
-- 5712
Holdings
Date last seen Full call number Barcode Cost, replacement price Price effective from Koha item type Lost status Source of classification or shelving scheme Damaged status Not for loan Withdrawn status Permanent location Current location Shelving location Date acquired Source of acquisition
26/01/2017 332.46 BI MO T0016606 67.50 26/01/2017 REGULAR   Dewey Decimal Classification       University of Wollongong in Dubai University of Wollongong in Dubai Main Collection 14/12/2014 AMAUS