Rules for International Monetary Stability: Past, Present, and Future - Couverture rigide

Bordo, Michael D.; Taylor, John B.

 
9780817920548: Rules for International Monetary Stability: Past, Present, and Future
Couverture rigide
ISBN 10 : 0817920544 ISBN 13 : 9780817920548
Editeur : Hoover Institution Press,U.S., 2017

Synopsis

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.

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À propos de l'auteur

Michael D. Bordo is a Board of Governors Professor of Economics and director of the Center for Monetary and Financial History at Rutgers University, New Brunswick, New Jersey. He is currently a distinguished visiting fellow at the Hoover Institution, Stanford University. John B. Taylor is the Bowen H. and Janice Arthur McCoy Senior Fellow at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University.

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
Hoover Institution Press,U.S.
Date d'édition
2017
Langue
anglais
ISBN 10 
0817920544
ISBN 13 
9780817920548
Reliure
Relié
Nombre de pages
200
Coordonnées du fabricant
non disponible
Personne responsable
non disponible