MONETARY POLICY
ExchangeRateRegimesArgumentsinfavoroffixedexchangeratesystem:Lessforeignexchangerisk,helpfultoforeigntradeandinvestment.ArgumentsAGAISTfixedexchangeratesystemexposuretocurrencycrisiseasytransmissionofinflationLossofmonetarypolicyautonomy 23FixedversusFlexible ExchangeRateRegimesArgumentsinfavorofflexibleexchangerates:Easierexterna...
–Government –CentralBank –Interaction •Goalversusinstrumentindependence GoalsofMonetaryPolicy •WhatCanMonetaryPolicyAchieve? –PriceStability –Employment –EconomicGrowth StatutoryObjectivesofCentralBanks (BankofEnglandSurveyof94CentralBanks) Onlynon-monetary stability(1%) Monetarystability& othernon-conflicti...
intentions of QE policy: boosting up the inflation rate (stimulate the economy) • Experiences of QE policy: with respect to either Japan in 1990s or US, European or England, inflation rates are still low, economy still undergo the recession • Will inflation happen in the future due to ...
17%ofthevote,vetopower,“consensus”WhatarethedifferentviewsontheeffectsofIMFprograms?Left-badpolicy,right-policiesignored,moderate-partialreformtooltohelpdomesticelitesWhatkindofregimeuseinternationalarrangementsto“lock-in”futuregovernments?Weakdemocracy…Whathappenedbetween1870&1944thatledtothecreationoftheIMF?Fa...
Awareness of the monetary value of forest biodiversity is expected to provide a valuable contribution to natural conservation policy by providing a scientific basis for both forest policy decision makers and forest managers [45]. The only analyses of the value forest biodiversity embodied in the ...