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Palgrave Macmillan

Towards More Effective Monetary Policy

  • Book
  • © 1997

Overview

Editors:
  1. Iwao Kuroda

    1. Institute for Monetary and Economic Studies, Bank of Japan, Japan

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Table of contents (13 chapters)

  1. Front Matter

    Pages i-xiv
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  2. Keynote Speeches

    1. Front Matter

      Pages 1-1
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    2. On Making Monetary Policy More Effective Domestically and Internationally

      • Allan H. Meltzer
      Pages 3-27

    3. Policy Rules as a Means to a More Effective Monetary Policy

      • John B. Taylor
      Pages 28-39

    4. Styles of Monetary Management

      • Tommaso Padoa-Schioppa
      Pages 40-63

  3. Exploration of a Framework for Effective Monetary Policy

    1. Front Matter

      Pages 65-65
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    2. Inflation Control and Monetary Policy Rules

      • David Laidler
      Pages 67-98

    3. Challenges for Monetary Policy in the Evolving Financial Environment

      • David W. Mullins Jr
      Pages 99-134

  4. Experience with Monetary Policy Guidelines

    1. Front Matter

      Pages 135-135
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    2. The Rise and Fall of Money Growth Targets as Guidelines for US Monetary Policy

      • Benjamin M. Friedman
      Pages 137-175

    3. Monetary Targeting in Germany

      • Manfred J. M. Neumann
      Pages 176-210

    4. Inflation Targeting in Canada, New Zealand, Sweden, the United Kingdom, and in General

      • Bennett T. McCallum
      Pages 211-252

    5. Japanese Monetary Policy, Rules or Discretion? A Reconsideration

      • Kazuo Ueda
      Pages 253-295

  5. Central Bank Independence and Accountability

    1. Front Matter

      Pages 297-297
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    2. Independence and Accountability

      • Clive Briault, Andrew Haldane, Mervyn A. King
      Pages 299-340

    3. Central Bank Independence in the European Union

      • Franco Bruni
      Pages 341-386

  6. Concluding Summary

    1. Front Matter

      Pages 387-387
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    2. Towards More Effective Monetary Policy: Concluding Remarks

      • Guido Tabellini
      Pages 389-399

  7. Background Paper

    1. Front Matter

      Pages 401-401
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    2. The Policy Objectives and the Optimal Institutional Framework of a Central Bank

      • Kunio Okina
      Pages 403-426
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Keywords

About this book

This volume contains papers prepared for the Bank of Japan's Seventh International Conference which explore the operational and institutional framework for effective monetary policy implementation against the background of recent developments in economics and central banking practice. Features important contributions from leading figures from academia, central banks, and international institutions. Essential reading for anyone interested in central banking or the conduct of monetary policy.

Editors and Affiliations

  • Institute for Monetary and Economic Studies, Bank of Japan, Japan

    Iwao Kuroda

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