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Interest rates, prices and liquidity : lessons from the financial crisis /
"Many of the assumptions that underpin mainstream macroeconomic models have been challenged as a result of the traumatic events of the recent financial crisis. Thus, until recently, it was widely agreed that although the stock of money had a role to play, in practice it could be ignored as long...
| Clasificación: | Libro Electrónico |
|---|---|
| Otros Autores: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Cambridge, UK ; New York :
Cambridge University Press,
2012.
|
| Colección: | Macroeconomic policy making.
|
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 245 | 0 | 0 | |a Interest rates, prices and liquidity : |b lessons from the financial crisis / |c edited by Jagjit S. Chadha and Sean Holly. |
| 260 | |a Cambridge, UK ; |a New York : |b Cambridge University Press, |c 2012. | ||
| 300 | |a 1 online resource (xi, 280 pages) : |b illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a Macroeconomic policy making | |
| 500 | |a Papers presented at a conference held in Cambridge, England in Mar. 2010. | ||
| 520 | |a "Many of the assumptions that underpin mainstream macroeconomic models have been challenged as a result of the traumatic events of the recent financial crisis. Thus, until recently, it was widely agreed that although the stock of money had a role to play, in practice it could be ignored as long as we used short-term nominal interest rates as the instrument of policy because money and other credit markets would clear at the given policy rate. However, very early on in the financial crisis interest rates effectively hit zero percent and so central banks had to resort to a wholly new set of largely untested instruments to restore order, including quantitative easing and the purchase of toxic financial assets. This book brings together contributions from economists working in academia, financial markets and central banks to assess the effectiveness of these policy instruments and explore what lessons have so far been learned"-- |c Provided by publisher | ||
| 520 | |a "We assess recent developments in monetary policy practice following the .nancial crisis drawing on papers from a specially convened conference in March 2010. In particular, we consider why central banks throughout the world have injected substantial quantitites of liquidity into the .nancial system and seen their balance sheets expand to multiples of GDP. We outline the theoretical rationale for balance sheet operations: (i) portfolio balance of the non-bank .nancial sector; (ii) an o$set for the zero bound; (iii) signalling mechanism about medium term in.ation expectations and (iv) the alleviation of the government.s budget constraint. We brie.y outline the recent experience with QE and draw a distinction between liquidity and macroeconomic stabilisation operations"-- |c Provided by publisher | ||
| 504 | |a Includes bibliographical references and index. | ||
| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a New instruments of monetary policy / Jagjit S. Chadha and Sean Holly -- Liquidity and monetary policy / Douglas Gale -- Interest rate policies and stability of banking systems / Hans Gersbach and Jan Wenzelberger -- Handling liquidity shocks: QE and Tobin's q / John Driffill and Marcus Miller -- Asset purchase policies and portfolio balance effects: a DSGE analysis / Richard Harrison -- Financial intermediaries in an estimated DSGE model for the UK / Stefania Villa and Jing Yang -- Central bank balance sheets and long term forward rates / Sharon Kozicki, Eric Santor and Lena Suchanek -- Non-standard monetary policy measures and monetary developments / Domenico Giannone, Michele Lenza, Huw Pill and Lucrezia Reichlin -- QE: one year on / Spencer Dale -- What saved the banks: unconventional monetary or fiscal policy? / Mike Wickens -- Non-conventional monetary policies: QE and the DSGE literature / Evren Caglar, Jagjit Chadha, Jack Meaning, James Warren and Alex Waters. | |
| 590 | |a eBooks on EBSCOhost |b EBSCO eBook Subscription Academic Collection - Worldwide | ||
| 650 | 0 | |a Interest rates. | |
| 650 | 0 | |a Monetary policy. | |
| 650 | 0 | |a Global Financial Crisis, 2008-2009. | |
| 650 | 6 | |a Taux d'intérêt. | |
| 650 | 6 | |a Politique monétaire. | |
| 650 | 6 | |a Crise financière mondiale, 2008-2009. | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Money & Monetary Policy. |2 bisacsh | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Economics |x Macroeconomics. |2 bisacsh | |
| 650 | 7 | |a POLITICAL SCIENCE |x Economic Conditions. |2 bisacsh | |
| 650 | 7 | |a Interest rates. |2 fast |0 (OCoLC)fst00976178 | |
| 650 | 7 | |a Monetary policy. |2 fast |0 (OCoLC)fst01025230 | |
| 650 | 7 | |a Finanzkrise |2 gnd | |
| 650 | 7 | |a Geopolitik |2 gnd | |
| 650 | 7 | |a Notenbankpolitik |2 gnd | |
| 647 | 7 | |a Global Financial Crisis |d (2008-2009) |2 fast |0 (OCoLC)fst01755654 | |
| 648 | 7 | |a 2008-2009 |2 fast | |
| 700 | 1 | |a Chadha, Jagjit. | |
| 700 | 1 | |a Holly, Sean. | |
| 776 | 0 | 8 | |i Print version: |t Interest rates, prices and liquidity. |d Cambridge, UK ; New York : Cambridge University Press, 2012 |z 9781107014732 |w (DLC) 2011030680 |w (OCoLC)733229081 |
| 830 | 0 | |a Macroeconomic policy making. | |
| 856 | 4 | 0 | |u https://ebsco.uam.elogim.com/login.aspx?direct=true&scope=site&db=nlebk&AN=409004 |z Texto completo |
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