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Inflation targeting and central banks : institutional set-ups and monetary policy effectiveness /

ISBN/ISSN:
9781032038278 价格: CNY1032.07
ISBN/ISSN:
9781032038261
科图分类法:
F820.1
著者:
Niedzwiedzinska, Joanna,
题名:
Inflation targeting and central banks [institutional set-ups and monetary policy effectiveness ]
出版发行:
Abingdon, Oxon ; : Routledge, 2022.
载体形态:
xviii, 363 p. : ill. ; 24 cm.
内容提要:
"Over the last three decades, inflation targeting (IT) has become the most popular monetary policy framework among larger economies. At the same time, its constituting features leave room for different interpretations, translating into various central banks' institutional set-ups. Against this backdrop, this book investigates the importance of institutional arrangements for policy outcomes. In particular, the book answers the question whether there are significant differences in IT central banks' institutional set-ups, and-if yes-whether they influence the ability of monetary authorities to meet their policy goals. The book examines around 70 aspects related to independence, accountability and transparency of 42 IT central banks over the last 30 years. Based on the analysis, it can be concluded that the quality of the institutional set-ups materially affects monetary policy effectiveness. In fact, a visible improvement of institutional arrangements resulting from pursuing an inflation targeting strategy can be treated as its lasting contribution to central banking. Thus, despite the recent critique of the framework, its prospects continue to be rather favourable. Overall, for the advocates of inflation targeting, the findings of the book can be seen as identifying the sources of IT strengths, while for IT opponents, they may be viewed as indicating which elements of IT institutional set-ups should be kept even if the need to replace this strategy with another regime will, indeed, result in a change. Given the role monetary policy plays within the economy, such knowledge may have significant implications. Therefore, the book will be relevant for different audiences, including scholars and researchers of monetary economics and monetary policy, and will be essential reading for central banks already pursuing an IT strategy or those preparing to adopt one"--
主题词:
Monetary policy.
主题词:
Banks and banking.
主题词:
Inflation (Finance)
主题词:
International finance.
标签:
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HEA|  |02882cam a2200277   450 
001|  |022022002370
008|  |210210s2022    enka     b    001 0 eng
010|  |▼a  2021006552
020|  |▼a9781032038278▼q(hardback) :▼-
   |  |cCNY1032.07
020|  |▼a9781032038261▼q(paperback)
020|  |▼z9781003189244▼q(ebk)
040|  |▼aDLC▼cDLC
050|00|▼aHG230.3▼b.N54 2022
082|00|▼a339.5/3▼223
090|  |▼aF820.1▼b228344
100|1 |▼aNiedzwiedzinska, Joanna,▼eauthor.
245|10|▼aInflation targeting and cent-
   |  |ral banks :▼binstitutional set-
   |  |-ups and monetary policy effec-
   |  |tiveness /▼cJoanna Niedzwiedzinska.
260|  |▼aAbingdon, Oxon ;▼aNew York, -
   |  |NY :▼bRoutledge,▼c2022.
300|  |▼axviii, 363 p. :▼bill. ;▼c24 cm.
490|0 |▼aBanking, money and internati-
   |  |onal finance
504|  |▼aIncludes bibliographical ref-
   |  |erences and index.
520|  |▼a"Over the last three decades-
   |  |, inflation targeting (IT) has-
   |  | become the most popular monet-
   |  |ary policy framework among lar-
   |  |ger economies. At the same tim-
   |  |e, its constituting features l-
   |  |eave room for different interp-
   |  |retations, translating into va-
   |  |rious central banks\' instituti-
   |  |onal set-ups. Against this bac-
   |  |kdrop, this book investigates -
   |  |the importance of institutiona-
   |  |l arrangements for policy outc-
   |  |omes. In particular, the book -
   |  |answers the question whether t-
   |  |here are significant differenc-
   |  |es in IT central banks\' instit-
   |  |utional set-ups, and-if yes-wh-
   |  |ether they influence the abili-
   |  |ty of monetary authorities to -
   |  |meet their policy goals. The b-
   |  |ook examines around 70 aspects-
   |  | related to independence, acco-
   |  |untability and transparency of-
   |  | 42 IT central banks over the -
   |  |last 30 years. Based on the an-
   |  |alysis, it can be concluded th-
   |  |at the quality of the institut-
   |  |ional set-ups materially affec-
   |  |ts monetary policy effectivene-
   |  |ss. In fact, a visible improve-
   |  |ment of institutional arrangem-
   |  |ents resulting from pursuing a-
   |  |n inflation targeting strategy-
   |  | can be treated as its lasting-
   |  | contribution to central banki-
   |  |ng. Thus, despite the recent c-
   |  |ritique of the framework, its -
   |  |prospects continue to be rathe-
   |  |r favourable. Overall, for the-
   |  | advocates of inflation target-
   |  |ing, the findings of the book -
   |  |can be seen as identifying the-
   |  | sources of IT strengths, whil-
   |  |e for IT opponents, they may b-
   |  |e viewed as indicating which e-
   |  |lements of IT institutional se-
   |  |t-ups should be kept even if t-
   |  |he need to replace this strate-
   |  |gy with another regime will, i-
   |  |ndeed, result in a change. Giv-
   |  |en the role monetary policy pl-
   |  |ays within the economy, such k-
   |  |nowledge may have significant -
   |  |implications. Therefore, the b-
   |  |ook will be relevant for diffe-
   |  |rent audiences, including scho-
   |  |lars and researchers of moneta-
   |  |ry economics and monetary poli-
   |  |cy, and will be essential read-
   |  |ing for central banks already -
   |  |pursuing an IT strategy or tho-
   |  |se preparing to adopt one"--▼c-
   |  |Provided by publisher.
650| 0|▼aMonetary policy.
650| 0|▼aBanks and banking.
650| 0|▼aInflation (Finance)
650| 0|▼aInternational finance.