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Zinsen und Preise: Grundlagen einer geldpolitische
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eBay-Artikelnr.:313256499483
Artikelmerkmale
- Artikelzustand
- PublishedOn
- 2003-09-07
- Title
- Interest and Prices: Foundations of a Theory of Monetary Policy
- Artist
- Not Specified
- ISBN
- 9780691010496
Über dieses Produkt
Product Identifiers
Publisher
Princeton University Press
ISBN-10
0691010498
ISBN-13
9780691010496
eBay Product ID (ePID)
2858323
Product Key Features
Number of Pages
808 Pages
Language
English
Publication Name
Interest and Prices : Foundations of a Theory of Monetary Policy
Publication Year
2003
Subject
International / Economics, Money & Monetary Policy
Type
Textbook
Subject Area
Business & Economics
Format
Hardcover
Dimensions
Item Height
2.1 in
Item Weight
44.1 Oz
Item Length
9.4 in
Item Width
8.4 in
Additional Product Features
Intended Audience
College Audience
LCCN
2003-106560
Reviews
Winner of the 2003 Award for Best Professional/Scholarly Book in Economics, Association of American Publishers
Illustrated
Yes
Synopsis
With the collapse of the Bretton Woods system, any pretense of a connection of the world's currencies to any real commodity has been abandoned. Yet since the 1980s, most central banks have abandoned money-growth targets as practical guidelines for monetary policy as well. How then can pure "fiat" currencies be managed so as to create confidence in the stability of national units of account? Interest and Price s seeks to provide theoretical foundations for a rule-based approach to monetary policy suitable for a world of instant communications and ever more efficient financial markets. In such a world, effective monetary policy requires that central banks construct a conscious and articulate account of what they are doing. Michael Woodford reexamines the foundations of monetary economics, and shows how interest-rate policy can be used to achieve an inflation target in the absence of either commodity backing or control of a monetary aggregate. The book further shows how the tools of modern macroeconomic theory can be used to design an optimal inflation-targeting regime--one that balances stabilization goals with the pursuit of price stability in a way that is grounded in an explicit welfare analysis, and that takes account of the "New Classical" critique of traditional policy evaluation exercises. It thus argues that rule-based policymaking need not mean adherence to a rigid framework unrelated to stabilization objectives for the sake of credibility, while at the same time showing the advantages of rule-based over purely discretionary policymaking., Offers theoretical foundations for a rule-based approach to monetary policy for a world of communications and efficient financial markets. This book examines the foundations of monetary economics, showing how interest-rate policy can be used to achieve an inflation target in the absence of either commodity control of a monetary aggregate., With the collapse of the Bretton Woods system, any pretense of a connection of the world's currencies to any real commodity has been abandoned. Yet since the 1980s, most central banks have abandoned money-growth targets as practical guidelines for monetary policy as well. How then can pure "fiat" currencies be managed so as to create confidence in the stability of national units of account? Interest and Prices seeks to provide theoretical foundations for a rule-based approach to monetary policy suitable for a world of instant communications and ever more efficient financial markets. In such a world, effective monetary policy requires that central banks construct a conscious and articulate account of what they are doing. Michael Woodford reexamines the foundations of monetary economics, and shows how interest-rate policy can be used to achieve an inflation target in the absence of either commodity backing or control of a monetary aggregate.The book further shows how the tools of modern macroeconomic theory can be used to design an optimal inflation-targeting regime--one that balances stabilization goals with the pursuit of price stability in a way that is grounded in an explicit welfare analysis, and that takes account of the "New Classical" critique of traditional policy evaluation exercises.It thus argues that rule-based policymaking need not mean adherence to a rigid framework unrelated to stabilization objectives for the sake of credibility, while at the same time showing the advantages of rule-based over purely discretionary policymaking.
LC Classification Number
HG230.3.W66 2003
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Awesomebooksusa
98% positive Bewertungen•1.3 Mio. Artikel verkauft
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Verkäuferbewertungen (544'058)
- o***7 (45)- Bewertung vom Käufer.Letzter MonatBestätigter KaufArrived quickly, quality, condition and appearance was as described. Shipping container and packaging was protective. Would recommend this seller.
- o***7 (45)- Bewertung vom Käufer.Letzter MonatBestätigter KaufArrived quickly, quality, condition and appearance was as described. Shipping container and packaging was protective. Would recommend this seller.
- t***b (290)- Bewertung vom Käufer.Letzter MonatBestätigter KaufVery good book.