منابع مشابه
Monetary Aggregates and Monetary Policy
This is a special conference for the Federal Reserve Bank of Boston, and for me personally. The role of monetary aggregates in monetary policy was intensely controversial when I joined the staff of the Board of Governors in May 1969. I was immediately asked to join the staff of the newly formed FOMC Committee on the Directive. Governor Sherman Maisel chaired that committee; the other two member...
متن کاملSettlement Liquidity and Monetary Policy Implementation -- Lessons from the Financial Crisis
he U.S. dollar clearing and settlement system was little noticed during the recent financial crisis, mainly because it performed dependably, processing record volumes and values of trades made in stressed financial markets. Its successful operation was in part a result of the collaborative efforts undertaken by stakeholders over decades to improve risk management and operational resiliency. Und...
متن کاملCentral Bank Transparency and Monetary Policy Effectiveness
The paper concentrates on the conditions, contingencies and determinants of central bank transparency and communication. From the state of the economy and the quality of national institutions, to the structure of monetary policy committees, the personality of the governor and the nature of the monetary policy framework - with a particular focus on the case of inflation targeting, there i...
متن کاملEstimating Settlement Risk and the Potential for Contagion in Canada’s Automated Clearing Settlement System
Payments systems operate virtually unnoticed in our daily lives and yet are crucial to a wellfunctioning economy and financial system. Because they explicitly link financial institutions, payments systems provide a way to transmit risk within, and between, financial systems. Ideally, payments systems should be designed and operated so as not to add risk in the event of a crisis. The author exam...
متن کاملMonetary Policy and Learning
Federal Reserve Bank of Atlanta E C O N O M I C R E V I E W Third Quarter 2003 I t is a great pleasure to attend this conference on monetary policy and learning and enjoy the many excellent papers presented here. I am very grateful for the opportunity to speak to this distinguished audience of researchers and policymakers, and I hope my remarks will stimulate some further discussion. I will tal...
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ژورنال
عنوان ژورنال: Journal of Monetary Economics
سال: 1997
ISSN: 0304-3932
DOI: 10.1016/s0304-3932(97)00046-9