Monetary Policy Implementation: Theory, past, and present

Ulrich Bindseil

ISBN 10: 0199274541 / ISBN 13: 9780199274543

Published by Oxford University Press, 2005

About this Item

Providing a simple theory of monetary policy implementation, this book explains the role of the three main instruments (open market operations, standing facilities, and reserve requirements) and reviews their use in the twentieth century. It summarizes views on efficient monetary policy implementation. Num Pages: 288 pages, Illustrations. BIC Classification: KCA; KCBM. Category: (P) Professional & Vocational. Dimension: 241 x 159 x 22. Weight in Grams: 598. . 2005. Hardcover. . . . . Books ship from the US and Ireland.

Seller Inventory # V9780199274543

Bibliographic Details

• Title: Monetary Policy Implementation: Theory, past, and present
• Publisher: Oxford University Press
• Publication Date: 2005
• Language: English
• ISBN 10: 0199274541
• ISBN 13: 9780199274543
• Binding: Hardcover
• Condition: New

About this title

Synopsis

The first of its kind, this book is entirely dedicated to the implementation of monetary policy: how central banks go about achieving their monetary policy targets. Monetary policy implementation has gone through tremendous changes over the last twenty years, which have witnessed the quiet end of 'reserve position doctrine' and the return of an explicit focus on short-term interest rates. This book argues that reserve position doctrine has never, and could never, be seriously put into practice. Providing a simple theory of monetary policy implementation, Bindseil goes on to explain the role of the three main instruments (open market operations, standing facilities, and reserve requirements) and reviews their use in the twentieth century.

About the Author

Ulrich Bindseil is Principal Economist in the Directorate General Operations at the European Central Bank. In addition to understaking numerous missions on monetary policy implementation to emerging market central banks, he has been Economist at the European Monetary Institute at the European Central Bank, Economist in the Economics Department of the Deutsche Bundesbank, and a teacher at the University of Saarland.