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Author: Jagjit Chadha
Publisher: International Monetary Fund
ISBN:
Category :
Languages : en
Pages : 43
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Book Description
In response to the 2016 referendum on EU Membership and the ensuing uncertainty as to the eventual consequences of Brexit, the Bank of England (BoE) adopted various methods of influencing market rates, including conventional, unconventional monetary policy measures and communications on forward guidance. To investigate the effectiveness of BoE’s communication, we first decompose long-dated yields into a risk neutral and term premium component. Text-based analysis of Monetary Policy Committee minutes is then used to measure the stance of policy, attitudes to QE and Brexit. We show that the Bank’s communication strategy acted to complement the stance of monetary policy, which had responded by lowering Bank rate and expanding QE, and acted to lower the term premium that might otherwise have risen in response to Brexit uncertainty.
Author: Jagjit Chadha
Publisher: International Monetary Fund
ISBN:
Category :
Languages : en
Pages : 43
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Book Description
In response to the 2016 referendum on EU Membership and the ensuing uncertainty as to the eventual consequences of Brexit, the Bank of England (BoE) adopted various methods of influencing market rates, including conventional, unconventional monetary policy measures and communications on forward guidance. To investigate the effectiveness of BoE’s communication, we first decompose long-dated yields into a risk neutral and term premium component. Text-based analysis of Monetary Policy Committee minutes is then used to measure the stance of policy, attitudes to QE and Brexit. We show that the Bank’s communication strategy acted to complement the stance of monetary policy, which had responded by lowering Bank rate and expanding QE, and acted to lower the term premium that might otherwise have risen in response to Brexit uncertainty.
Author: World Bank
Publisher: World Bank Publications
ISBN: 1464816662
Category : Business & Economics
Languages : en
Pages : 339
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Book Description
The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.
Author: Matteo Villa
Publisher: Ledizioni
ISBN: 8855262025
Category :
Languages : en
Pages : 112
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Book Description
Author: Lawrence J. Gitman
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 1455
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Book Description
Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond. This is an adaptation of Introduction to Business by OpenStax. You can access the textbook as pdf for free at openstax.org. Minor editorial changes were made to ensure a better ebook reading experience. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License.
Author: David G. Mayes
Publisher:
ISBN: 0190626194
Category : Business & Economics
Languages : en
Pages : 809
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Book Description
The economic influence of central banks has received ever more attention given their centrality during the financial crises that led to the Great Recession, strains in the European Union, and the challenges to the Euro. The Oxford Handbook of the Economics of Central Banking reflects the state of the art in the theory and practice and covers a wide range of topics that will provide insight to students, scholars, and practitioners. As an up to date reference of the current and potential challenges faced by central banks in the conduct of monetary policy and in the search for the maintenance of financial system stability, this Oxford Handbook covers a wide range of essential issues. The first section provides insights into central bank governance, the differing degrees of central bank independence, and the internal dynamics of their decision making. The next section focuses on questions of whether central banks can ameliorate fiscal burdens, various strategies to affect monetary policy, and how the global financial crisis affected the relationship between the traditional focus on inflation targeting and unconventional policy instruments such as quantitative easing (QE), foreign exchange market interventions, negative interest rates, and forward guidance. The next two sections turn to central bank communications and management of expectations and then mechanisms of policy transmission. The fifth part explores the challenges of recent developments in the economy and debates about the roles central banks should play, focusing on micro- and macro-prudential arguments. The implications of recent developments for policy modeling are covered in the last section. The breadth and depth enhances understanding of the challenges and opportunities facing central banks.
Author: Corrado Macchiarelli
Publisher: Springer Nature
ISBN: 3030443485
Category : Political Science
Languages : en
Pages : 197
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Book Description
In light of the handover from the European Central Bank President Mario Draghi to Christine Lagarde in November 2019, this book provides an in-depth analysis of the events which unfolded since the euro area sovereign debt crisis in 2010 up until today. The book focuses on the far-reaching implications of the last decade, shedding light on a wide spectrum of political, economic and financial aspects of the European poly-crises and how monetary policy reacted to these challenges. The book places particular emphasis on the tensions that the supranational central bank was subject to during this period, and on their outcomes in terms of the policies, their legitimacy, and their public reception. As such, this book will be relevant not only to understand the political implications of the past crisis but also, and foremost, in understanding "what is next".
Author: Jens Beckert
Publisher: Oxford University Press
ISBN: 0192552759
Category : Business & Economics
Languages : en
Pages : 421
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Book Description
Uncertain Futures considers how economic actors visualize the future and decide how to act in conditions of radical uncertainty. It starts from the premise that dynamic capitalist economies are characterized by relentless innovation and novelty and hence exhibit an indeterminacy that cannot be reduced to measurable risk. The organizing question then becomes how economic actors form expectations and make decisions despite the uncertainty they face. This edited volume lays the foundations for a new model of economic reasoning by showing how, in conditions of uncertainty, economic actors combine calculation with imaginaries and narratives to form fictional expectations that coordinate action and provide the confidence to act. It draws on groundbreaking research in economic sociology, economics, anthropology, and psychology to present theoretically grounded empirical case studies. These demonstrate how grand narratives, central bank forward guidance, economic forecasts, finance models, business plans, visions of technological futures, and new era stories influence behaviour and become instruments of power in markets and societies. The market impact of shared calculative devices, social narratives, and contingent imaginaries underlines the rationale for a new form of narrative economics.
Author: Jon Erik Dølvik
Publisher: Nordic Council of Ministers
ISBN: 9289359080
Category : Political Science
Languages : en
Pages : 90
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Book Description
The Nordic future of workHow will work and working life in the Nordic countries change in the future? This is the question to be addressed in the project The Future of Work: Opportunities and Challenges for the Nordic Models. This initial report describes the main drivers and trends expected to shape the future of work. It also reviews the main distinctions of the Nordic model and recent developments in Nordic working lives, pointing towards the kind of challenges the future of work may pose to the Nordic models. Too often, debates about the future narrowly focus on changes in technology. This report draws attention to the broader drivers and political-institutional frameworks influencing working life developments, aiming to spur debate about how the interaction of changes in demography, climate, globalization and digital technologies may influence Nordic working lives in the coming decades.
Author: Jakob De Haan
Publisher: MIT Press
ISBN: 0262262452
Category : Business & Economics
Languages : en
Pages : 277
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Book Description
An examination of the debates on European Central Bank monetary policy, focusing on issues of transparency, credibility, and accountability and the effect of the ECB's decentralized structure. The adoption of the euro in 1999 by 11 member states of the European Union created a single currency area second in economic size only to the United States. The euro zone's monetary policy is now set by the European Central Bank (ECB) and its Governing Council rather than by individual national central banks. This CESifo volume examines issues that have arisen in the first years of ECB monetary policy and analyzes the effect that current ECB policy strategy and structures may have in the future. After a detailed description and assessment of ECB monetary policy making that focuses on such issues as price stability and the predictability of policy decisions, the book turns to two important issues faced by European central bankers: the transparency and credibility of decision making and the ECB's decentralized structure. After showing that transparency in decision making enhances credibility, the book discusses the ECB's efforts at openness, its political independence as guaranteed by law, and its ultimate accountability. The book then considers the effects of the decentralized ECB structure, focusing on business cycle synchronization, inflation differentials, and differences in monetary policy transmission in light of the enlargement of the monetary union. The book also discusses options for ECB institutional reforms, including centralization, vote weighting, and cross-border regional banks.
Author: Neil Walkinshaw
Publisher: Springer
ISBN: 3319648225
Category : Computers
Languages : en
Pages : 186
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Book Description
This textbook offers undergraduate students an introduction to the main principles and some of the most popular techniques that constitute ‘software quality assurance’. The book seeks to engage students by placing an emphasis on the underlying foundations of modern quality-assurance techniques , using these to highlight why techniques work, as opposed to merely focussing on how they work. In doing so it provides readers with a comprehensive understanding of where software quality fits into the development lifecycle (spoiler: everywhere), and what the key quality assurance activities are. The book focuses on quality assurance in a way that typical, more generic software engineering reference books do not. It is structured so that it can (and should) be read from cover to cover throughout the course of a typical university module. Specifically, it is Concise: it is small enough to be readable in its entirety over the course of a typical software engineering module. Explanatory: topics are discussed not merely in terms of what they are, but also why they are the way they are – what events, technologies, and individuals or organisations helped to shape them into what they are now. Applied: topics are covered with a view to giving the reader a good idea of how they can be applied in practice, and by pointing, where possible, to evidence of their efficacy. The book starts from some of the most general notions (e.g. quality and development process), and gradually homes-in on the more specific activities, assuming knowledge of the basic notions established in prior chapters. Each chapter concludes with a “Key Points” section, summarising the main issues that have been covered in the chapter. Throughout the book there are exercises that serve to remind readers of relevant parts in the book that have been covered previously, and give them the opportunity to reflect on a particular topic and refer to related references.
