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Monetary Policy Operations and the Financial System
Ulrich Bindseil
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Description for Monetary Policy Operations and the Financial System
Hardcover. An introduction to the way that central banks implement monetary policy through market operations. It explains monetary policy operations in normal times, reviews the basic mechanics of financial crises, and explains what central banks need to do to fulfil their monetary policy and financial stability mandates when markets and banks are impaired. Num Pages: 336 pages, 101 Figures, 17 Tables. BIC Classification: KCA; KCBM; KFF. Category: (P) Professional & Vocational; (U) Tertiary Education (US: College). Dimension: 164 x 237 x 25. Weight in Grams: 654.
Since 2007, central banks of industrialized countries have counteracted financial instability, recession, and deflationary risks with unprecedented monetary policy operations. While generally regarded as successful, these measures also led to an exceptional increase in the size of central bank balance sheets. The book first introduces the subject by explaining monetary policy operations in normal times, including the key instruments (open market operations, standing facilities, reserve requirements, and the collateral framework). Second, the book reviews the basic mechanics of financial crises as they have hit economies many times. The book then explains what central banks need to do to when financial ... Read more
Since 2007, central banks of industrialized countries have counteracted financial instability, recession, and deflationary risks with unprecedented monetary policy operations. While generally regarded as successful, these measures also led to an exceptional increase in the size of central bank balance sheets. The book first introduces the subject by explaining monetary policy operations in normal times, including the key instruments (open market operations, standing facilities, reserve requirements, and the collateral framework). Second, the book reviews the basic mechanics of financial crises as they have hit economies many times. The book then explains what central banks need to do to when financial ... Read more
Product Details
Publisher
Oxford University Press
Format
Hardback
Publication date
2014
Condition
New
Weight
620g
Number of Pages
338
Place of Publication
Oxford, United Kingdom
ISBN
9780198716907
SKU
V9780198716907
Shipping Time
Usually ships in 4 to 8 working days
Ref
99-2
About Ulrich Bindseil
After his studies, Ulrich Bindseil joined the Deutsche Bundesbank's economics department in 1994. In 1997, he moved on to the European Monetary Institute and to the European Central bank in 1998. There, he was subsequently responsible for the Liquidity Management Section, the Risk Management Division, and finally for the Directorate General Market Operations (since 2012). He has been a lecturer ... Read more
Reviews for Monetary Policy Operations and the Financial System
The financial crisis and its aftermath have highlighted the importance of understanding how central banks operate, that is, how they use their balance sheets and other tools to implement monetary policy decisions. This book offers a unique and detailed view of the structure, history, and impact of monetary policy operations, both in normal times and in times of crisis. Written ... Read more