Instruments of Monetary Management

Instruments of Monetary Management PDF

Author: Mr.Tomás J. T. Baliño

Publisher: International Monetary Fund

Published: 1997-09-07

Total Pages: 316

ISBN-13: 9781557755988

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Many countries have reformed their monetary instruments over the last few years. Edited by Tomas J.T. Balino and Lorena M. Zamalloa, this volume deals with the design, implementation, and coordination of major monetary policy instruments, highlighting relevant country experiences. In particular, it discusses how to adapt those instruments to the financial environment as well as how to help this environment to develop.

The Adoption of Indirect Instruments of Monetary Policy

The Adoption of Indirect Instruments of Monetary Policy PDF

Author: Mr.William E. Alexander

Publisher: International Monetary Fund

Published: 1995-07-06

Total Pages: 86

ISBN-13: 9781557754899

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This paper examines the experience of implementing indirect instruments of monetary policy. The experiences of country studies illustrate the variety of circumstances under which indirect instruments of monetary policy have been introduced. Case Studies are presented for Chile, Egypt, Ghana, Indonesia, Mexico, New Zealand, and Poland.

Monetary Instruments and their Use During the Transition From a Centrally Planned to a Market Economy

Monetary Instruments and their Use During the Transition From a Centrally Planned to a Market Economy PDF

Author: Mr.Paul Louis Ceriel Hilbers

Publisher: International Monetary Fund

Published: 1993-11-01

Total Pages: 34

ISBN-13: 1451850948

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This paper discusses different instruments of monetary policy, and in particular the choice between direct and indirect instruments. It identifies the main characteristics of a country’s financial system that should be considered in selecting monetary instruments, and analyzes how these characteristics should influence that selection in countries that are progressing from a state-controlled to a market economy. The characteristics of the financial system during the initial stage of the transition sometimes favor relatively direct instruments. At this stage market-based variants of direct instruments may combine the necessary effectiveness in reducing monetary expansion with the need to introduce and stimulate competition in the financial markets. During this stage indirect instruments can be developed and tested (“belt and braces” approach). In later stages, as experience is gained, these indirect instruments can gradually replace the more direct controls.

The Design of Instruments for Government Finance in an Islamic Economy

The Design of Instruments for Government Finance in an Islamic Economy PDF

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 1998-04-01

Total Pages: 19

ISBN-13: 1451847483

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This paper presents perhaps the most viable approach for the design of an instrument of government finance (and monetary management) in an Islamic economy where conventional transactions based on an ex-ante promise of a risk-free rate of return are forbidden. Resources to finance government infrastructural and development projects can be mobilized by issuing a national participation paper and this instrument can also serve as an instrument of monetary management. The paper discusses various conceptional issues underpinning the introduction of such an instrument and methods of calculating a corresponding rate of return. In principle, this approach has been accepted by the Islamic Republic of Iran.

The Coordination of Domestic Public Debt and Monetary Management in Economies in Transition

The Coordination of Domestic Public Debt and Monetary Management in Economies in Transition PDF

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 1994-12-01

Total Pages: 60

ISBN-13: 1451856776

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In economies in transition, the development of financial markets is a common objective linking the monetary and fiscal authorities, while monetary and public debt management cannot be strictly separated. This calls for close coordination of objectives and instruments of monetary and debt management, and the development of supporting institutional and operational arrangements. Key aspects of these arrangements are surveyed.

Monetary Policy

Monetary Policy PDF

Author: Peter Bofinger

Publisher: Oxford University Press

Published: 2001-10-04

Total Pages: 477

ISBN-13: 0191664847

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This book provides an in-depth description and analysis of monetary policy in Europe and the United States. Unusually for a volume in the field, it focuses on actual monetary policy—-targets, institutions, strategies, and instruments—-but traditional and contemporary theoretical approaches to monetary policy form the basis for each chapter. Concentrating specifically on the European Central Bank, Monetary Policy offers one of the first comprehensive guides to understanding the targets, strategy, and instruments of the ECB. In the past, many books have presented mere descriptions of the institutional framework without providing a theoretical framework, while others have dealt mainly with theoretical aspects, thus neglecting the policy implications of their analysis. By combining a theoretical with a policy-oriented approach, Peter Bofinger succeeds in closing this gap in the monetary policy literature. As a result, his book will appeal to a broad readership, including investment bankers and other professional investors, central bankers, and scholars working in the field.

The Federal Reserve System Purposes and Functions

The Federal Reserve System Purposes and Functions PDF

Author: Board of Governors of the Federal Reserve System

Publisher:

Published: 2002

Total Pages: 0

ISBN-13: 9780894991967

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Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.

The Design of Instruments for Government Finance in an Islamic Economy

The Design of Instruments for Government Finance in an Islamic Economy PDF

Author: Nadeem Ul Haque

Publisher:

Published: 2006

Total Pages: 18

ISBN-13:

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This paper presents perhaps the most viable approach for the design of an instrument of government finance (and monetary management) in an Islamic economy where conventional transactions based on an ex-ante promise of a risk-free rate of return are forbidden. Resources to finance government infrastructural and development projects can be mobilized by issuing a national participation paper and this instrument can also serve as an instrument of monetary management. The paper discusses various conceptional issues underpinning the introduction of such an instrument and methods of calculating a corresponding rate of return. In principle, this approach has been accepted by the Islamic Republic of Iran.

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