Monetary Policy Implementation : Theory, Past, and Present

作者：UlrichBindseil

出版社：OxfordUniversityPress

副标题：Theory,Past,andPresent

出版年：2005-2-17

页数：288

定价：USD130.00

装帧：Hardcover

ISBN：9780199274543

内容简介
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The first of its kind, this book is entirely dedicated to the implementation of monetary policy. 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. Enthusiastically supported by Keynes and later by the monetarist school, reserve position doctrine was developed mainly by US central bankers and academics during the early 1920s, and at least in the US became the unchallenged dogma of monetary policy implementation for sixty years. The return of interest rate targeting also corresponds largely to the restoration of central banking principles established in the late 19th century. 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. In closing, he summarizes current views on efficient monetary policy implementation.

评论 ······

危机之前的书，着重强调价格型调控。当然被危机后的量化宽松政策打了一脸。不过比较细致。当然，文中也说明了，货币政策框架会随着金融环境和人民的认知而不断调整。

长周末的时间在Coursera上过完了HKUST的Monetary Policy on Asia Pacific，感觉把之前断断续续的很多知识碎片都串联起来了，也算是Demystify了央行的很多操作吧。明显可见8个国家中5个和美国走的很近的国家用的基本上是照抄美联储的大框架（马来西亚稍有不同），日本因为长期经济低迷所以只能不走寻常路，新加坡和香港都因为是贸易港口城市所以重外不重内；最不同的还是中…

Demystifing the conduction of the central banking

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