Monetary Policy Coordination and the Role of Central Banks

Released on by Rakesh Mohan
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  • Monetary Policy Coordination and the Role of Central Banks Book Detail

  • Author : Rakesh Mohan
  • Release Date : 2014-04-29
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 34
  • ISBN 13 : 1484362896
  • File Size : 48,48 MB
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Monetary Policy Coordination and the Role of Central Banks by Rakesh Mohan PDF Summary

Book Description: The unconventional monetary policies (UMPs) pursued by the advanced economies (AEs) have posed macroeconomic challenges for the emerging market economies (EMEs) through volatile capital flows and exchange rates. AE central banks need to acknowledge and appreciate the spillovers resulting from such UMPs. Central banks of the AEs, who have set up standing mutual swap facilities, should explore similar arrangements with other significant EMEs with appropriate risk mitigation measures. These initiatives could do much to actually curb volatility in global financial markets and hence in capital flows to EMEs, thus obviating the need for defensive policy actions on the part of EMEs.

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Monetary Policy in the New Normal

Monetary Policy in the New Normal

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The proposed SDN would take stock of the current debate on the shape that monetary policy should take after the crisis. It revisits the pros and cons of expandi