Rules for International Monetary Stability

Rules for International Monetary Stability
Author :
Publisher : Hoover Press
Total Pages : 381
Release :
ISBN-10 : 9780817920562
ISBN-13 : 0817920560
Rating : 4/5 (560 Downloads)

Book Synopsis Rules for International Monetary Stability by : Michael D. Bordo

Download or read book Rules for International Monetary Stability written by Michael D. Bordo and published by Hoover Press. This book was released on 2017-04-01 with total page 381 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the end of the Great Recession in 2009 the central banks of the advanced countries have taken unprecedented actions to reflate and stimulate their economies. There have been significant differences in the timing and pace of these actions. These independent monetary policy actions have had significant spillover effects on the economies and monetary policy strategies of other advanced countries. In addition the monetary policy actions and interventions of the advanced countries have had a significant impact on the emerging market economies leading to the charge of 'currency wars.' The perceived negative consequences of spillovers from the actions of national central banks has led to calls for international monetary policy coordination. The arguments for coordination based on game theory are the same today as back in the 1980s, which led to accords which required that participant countries follow policies to improve global welfare at the expense of domestic fundamentals. This led to disastrous consequences. An alternative approach to the international spillovers of national monetary policy actions is to view them as deviations from rules based monetary policy. In this view a return to rules based monetary policy and a rolling back of the " global great deviation" by each country's central bank would lead to a beneficial policy outcome without the need for explicit policy coordination. In this book we report the results from a recent conference which brought together academics, market participants, and policy makers to focus on these issues. The consensus of much of the conference was on the need for a classic rules based reform of the international monetary system.


Rules for International Monetary Stability Related Books

Rules for International Monetary Stability
Language: en
Pages: 381
Authors: Michael D. Bordo
Categories: Business & Economics
Type: BOOK - Published: 2017-04-01 - Publisher: Hoover Press

DOWNLOAD EBOOK

Since the end of the Great Recession in 2009 the central banks of the advanced countries have taken unprecedented actions to reflate and stimulate their economi
Nuclear Stability Rules
Language: en
Pages: 175
Authors: N. Feather
Categories: Science
Type: BOOK - Published: 2016-02-25 - Publisher: Cambridge University Press

DOWNLOAD EBOOK

Originally published in 1952, this book was developed to provide a survey of experiments in nuclear physics.
Monetary Policy Rule in Theory and Practice
Language: en
Pages: 280
Authors: Nicolas Barbaroux
Categories: Business & Economics
Type: BOOK - Published: 2013-08-21 - Publisher: Routledge

DOWNLOAD EBOOK

This new volume sheds new light on current monetary issues, in particular the debate on monetary policy making, by blending theoretical economic analysis, histo
The Many Paths of Change in International Law
Language: en
Pages: 401
Authors:
Categories: Law
Type: BOOK - Published: 2023-11-16 - Publisher: Oxford University Press

DOWNLOAD EBOOK

How does international law change? How does it adapt to meet global challenges in a volatile social and political context? The Many Paths of Change in Internati