getting it wrong how faulty monetary statistics undermine the fed the financial system and the economy mit press

Download Book Getting It Wrong How Faulty Monetary Statistics Undermine The Fed The Financial System And The Economy Mit Press in PDF format. You can Read Online Getting It Wrong How Faulty Monetary Statistics Undermine The Fed The Financial System And The Economy Mit Press here in PDF, EPUB, Mobi or Docx formats.

Getting It Wrong

Author : William A. Barnett
ISBN : 9780262300568
Genre : Business & Economics
File Size : 82. 79 MB
Format : PDF
Download : 672
Read : 1310

Download Now


Blame for the recent financial crisis and subsequent recession has commonly been assigned to everyone from Wall Street firms to individual homeowners. It has been widely argued that the crisis and recession were caused by "greed" and the failure of mainstream economics. In Getting It Wrong, leading economist William Barnett argues instead that there was too little use of the relevant economics, especially from the literature on economic measurement. Barnett contends that as financial instruments became more complex, the simple-sum monetary aggregation formulas used by central banks, including the U.S. Federal Reserve, became obsolete. Instead, a major increase in public availability of best-practice data was needed. Households, firms, and governments, lacking the requisite information, incorrectly assessed systemic risk and significantly increased their leverage and risk-taking activities. Better financial data, Barnett argues, could have signaled the misperceptions and prevented the erroneous systemic-risk assessments. When extensive, best-practice information is not available from the central bank, increased regulation can constrain the adverse consequences of ill-informed decisions. Instead, there was deregulation. The result, Barnett argues, was a worst-case toxic mix: increasing complexity of financial instruments, inadequate and poor-quality data, and declining regulation. Following his accessible narrative of the deep causes of the crisis and the long history of private and public errors, Barnett provides technical appendixes, containing the mathematical analysis supporting his arguments.

A Century Of Monetary Policy At The Fed

Author : David E. Lindsey
ISBN : 9781137578594
Genre : Business & Economics
File Size : 51. 3 MB
Format : PDF, Kindle
Download : 120
Read : 228

Download Now


In this narrative history, David E. Lindsey gives the reader a ringside seat to a century of policies at the US Federal Reserve. Alternating between broad historical strokes and deep dives into the significance of monetary issues and developments, Lindsey offers a fascinating look into monetary policymaking from the Fed's inception in 1913 to today. Lindsey's three decades of service on the Federal Reserve Board staff allow him to combine the heft of scholarship with an insider's perspective on how the recent chairmen's and current chairwoman's personalities and singular visions have shaped policy choices with far-reaching consequences. He critiques the performances of Chairman Ben Bernanke and Vice Chair Janet Yellen during the prelude, outbreak, and aftermath of the financial crisis of 2008, situating them in the context of the Fed's century-long history. He also quantitatively explores an alternative to the conventional New-Keynesian theory of inflation, replacing so-called "rational expectations" with the Fed's inflation objective. This unique volume is a piece of living history that has much to offer economists and monetary policy and finance professionals.

Macroprudential Banking Supervision Monetary Policy

Author : Luca Amorello
ISBN : 9783319941561
Genre :
File Size : 27. 97 MB
Format : PDF, ePub
Download : 577
Read : 1084

Download Now



The Evolution Of Central Banking Theory And History

Author : Stefano Ugolini
ISBN : 9781137485250
Genre : Business & Economics
File Size : 51. 85 MB
Format : PDF, Mobi
Download : 815
Read : 976

Download Now


This book is the first complete survey of the evolution of monetary institutions and practices in Western countries from the Middle Ages to today. It radically rethinks previous attempts at a history of monetary institutions by avoiding institutional approach and shifting the focus away from the Anglo-American experience. Previous histories have been hamstrung by the linear, teleological assessment of the evolution of central banks. Free from such assumptions, Ugolini’s work offers bankers and policymakers valuable and profound insights into their institutions. Using a functional approach, Ugolini charts an historical trajectory longer and broader than any other attempted on the subject. Moving away from the Anglo-American perspective, the book allows for a richer (and less biased) analysis of long-term trends. The book is ideal for researchers looking to better understand the evolution of the institutions that underlie the global economy.

Advances In Monetary Policy Design

Author : William A. Barnett
ISBN : 9781443853330
Genre : Business & Economics
File Size : 58. 75 MB
Format : PDF, ePub, Mobi
Download : 105
Read : 387

Download Now


In response to the recent financial crisis, many countries have initiated monetary stimulus packages. Maintaining proper measures of monetary aggregates is of particular importance for such economic policies. However, many central banks worldwide use the simple-sum monetary indexes, which ignore the liquidity characteristics of financial assets. Using the simple-sum indexes can produce misleading information, especially for broad monetary aggregates within which financial assets are not likely to be perfect substitutes. This book focuses on alternative economic stability indicators, and outlines the methods for constructing proper monetary and financial indicators – known as Divisia indexes. The Divisia monetary indexes are designed to measure accurately the liquidity in the economy by assigning different weights to different financial assets according to their usefulness in transactions. This book is highly relevant to economists interested in monetary policy and the construction of core inflation indicators and proper monetary indexes, in accordance with aggregation and index number theory. This book is the first to publish Divisia-based money supply indexes and core inflation indicators for the Gulf Cooperation Council (GCC) countries and for the Gulf Monetary Union. Researchers who use the financial data published by GCC central banks can use our indexes and findings to examine the interactions among the relevant macro-economic variables.

Review

Author : Federal Reserve Bank of St. Louis
ISBN : UIUC:30112110656292
Genre : Money
File Size : 38. 37 MB
Format : PDF, ePub, Docs
Download : 791
Read : 959

Download Now



Banking And Finance Issues In Emerging Markets

Author : William A. Barnett
ISBN : 9781787564558
Genre : Business & Economics
File Size : 82. 49 MB
Format : PDF, ePub
Download : 134
Read : 271

Download Now


This book features technical portrayals of today’s constantly developing banking issues; including stock market contagion, the impact of internet technology (IT) and financial innovation on stock markets, and a perspective on the loan puzzle in emerging markets.

Author : Steven D. Levitt
ISBN : 9789960543932
Genre : Business & Economics
File Size : 76. 41 MB
Format : PDF, Kindle
Download : 232
Read : 1107

Download Now


أيهما أشد خطراً، المسدس أم حوض السباحة؟ ما هي الأشياء المشتركة بين معلمي المدارس ومصارعي السومو؟ لماذا ما يزال تجار المخدرات يعيشون مع أمهاتهم؟ ما هو مقدار اهتمام الوالدين حقاً؟ ما هو تأثير قضية «رو» و«ويد» في جرائم العنف؟ قد لا تبدو هذه الأسئلة مثل الأسئلة النمطية التي يسألها الاقتصادي، لكن ستيفن د. ليفيت ليس اقتصادياً نمطياً؛ إنه عالم شجاع أكثر من أي شيء آخر، يدرس المادة والأحاجي في الحياة اليومية ــ من الغش والجريمة إلى الرياضة وتربية الأطفال ــ وتقوم استنتاجاته عادة على قلب الحكمة التقليدية رأساً على عقب. وغالباً ما يبدأ بتل كبير من المعطيات وبسؤال بسيط لم يطرح من قبل. إنه يهتم ببعض هذه الأسئلة مثل قضايا الحياة والموت، وبعضها الآخر ذو ميزات استثنائية دون شك. وهكذا يحتوي هذا الكتاب على حقل جديد من الدراسة، وهو (الاقتصاد العجيب). ومن خلال سرده للقصص الآسرة ومن النظرة العميقة غير المباشرة، يبين ليفيت وزميله ستيفن ج. دوبنر أن الاقتصاد -في جذوره- دراسة للحوافز ـــ كيف يحصل الناس على ما يريدون أو يحتاجون، لاسيما عندما يريد الناس الآخرون الشيء ذاته أو يحتاجونه. في كتابهما (الاقتصاد العجيب)، يشرع المؤلفان في استكشاف الجانب الخفي ـــ من كل شيء؛ الأعمال الداخلية لعصابة مخدرات، وحقيقة الوسطاء العقاريين، وأساطير تمويل الحملات. وقصص الغش لدى معلمي المدارس. وأسرار جمعية كوكلوكس كلان (العرقية). ومن هنا فإذا كانت الأخلاق تمثل كيف نريد للعالم أن يسير، فإن الاقتصاد يمثل كيف يعمل العالم فعلاً. صحيح إن قراء هذا الكتاب سيتسلحون بقصص وأحاجٍ تكفي لتروى في آلاف الحفلات، لكن كتاب (الاقتصاد العجيب) يستطيع أن يقدم أكثر من ذلك، إنه يعيد تعريف الطريقة التي ننظر بها إلى العالم الحديث تعريفاً حرفياً. العبيكان للنشر

World Economic Outlook April 2002

Author : International Monetary Fund. Research Dept.
ISBN : 145276414X
Genre : Business & Economics
File Size : 21. 7 MB
Format : PDF, Kindle
Download : 576
Read : 893

Download Now


The World Economic Outlook, published twice a year in English, French, Spanish, and Arabic, presents IMF staff economists' analyses of global economic developments during the near and medium term. Chapters give an overview of the world economy; consider issues affecting industrial countries, and economics in transition to market; and address topics of pressing current interest. Annexes, boxes, charts, and an extensive statistical appendix augment the text.

Full Dollarization

Author : Eduardo Borensztein
ISBN : 1451937598
Genre : Business & Economics
File Size : 53. 8 MB
Format : PDF, ePub, Mobi
Download : 153
Read : 1148

Download Now


Analyzes the costs and benefits of full dollarization, or the adoption by one country of another country's currency. Potential advantages include lower borrowing costs and deeper integration into world markets. But countries lose the ability to devalue, and become dependent on the U.S. Compares with currency board option.

Top Download:

Best Books