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The macroeconomic experience of emerging and developing economies has tended to be quite different from that of industrial countries. Compared to industrial countries, emerging and developing economies have tended to be much more unstable, with more severe boom/bust cycles, episodes of high inflation and a variety of financial crises. This textbook describes how the standard macroeconomic models that are used in industrial countries can be modified to help understand this experience and how institutional and policy reforms in emerging and developing economies may affect their future macroeconomic performance. This second edition differs from the first in offering: extensive new material on themes such as fiscal institutions, inflation targeting, emergent market crises, and the Great Recession; numerous application boxes; end-of-chapter questions; references for each chapter; more diagrams, less taxonomy, and a more reader-friendly narrative; and enhanced integration of all parts of the work.

Macroeconomics --- Economics --- Developing countries --- Economic conditions. --- E-books --- 331.31 --- 333.17 --- 333.481 --- 333.820 --- 336.61 --- NDC / Newly Industrialized Countries --- Economisch beleid --- Crises, saneringen en hervormingen van het bankwezen --- Monetaire crisissen, hervormingen, saneringen en stabilisering --- Geldbeleid, bankbeleid en kredietbeleid: algemeenheden --- Financieel beleid --- Macroeconomics. --- Economic policy and planning (general) --- Business, Economy and Management

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This volume collects the proceedings from a conference on the evolution and practice of central banking sponsored by the Central Bank Institute of the Federal Reserve Bank of Cleveland. The articles and discussants' comments in this volume largely focus on two questions: the need for central banks, and how to maintain price stability once they are established. The questions addressed include whether large banks (or coalitions of small banks) can substitute for government regulation and due central bank liquidity provision; whether the future will have fewer central banks or more; the possibility of private means to deliver a uniform currency; if competition across sovereign currencies can ensure global price stability; the role of learning (and unlearning) the lessons of the past inflationary episodes in understanding central bank behavior; and an analysis of the European Central Bank.

Banks and banking, Central. --- Banks and banking. --- Agricultural banks --- Banking --- Banking industry --- Commercial banks --- Depository institutions --- Finance --- Financial institutions --- Money --- Banker's banks --- Banks, Central --- Central banking --- Central banks --- Banks and banking --- AA / International- internationaal --- US / United States of America - USA - Verenigde Staten - Etats Unis --- 333.111.0 --- 333.820 --- 331.162.21 --- 333.840 --- Banks and banking, Central --- 332.11 --- Algemeenheden. Theoretische en beschrijvende studies. Centrale banken --- Geldbeleid, bankbeleid en kredietbeleid: algemeenheden --- Geschiedenis van de centrale banken --- Verband tussen de économische groei en de geld-, bank-en kredietpolitiek: algemeenheden. Monetaire overwaardering en onderwaardering --- Business, Economy and Management --- Economics

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Changes in the field of central banking over the past two decades have been nothing short of dramatic. They include the importance of central bank autonomy, the desirability of low and stable inflation, and the vital role played by how central banks communicate their views and intentions to the markets and the public more generally. There remains considerable diversity nevertheless in the institutional framework affecting central banks, the manner in which the stance of monetary policy is determined and assessed, and the forces that dictate the conduct of monetary policy more generally. The global financial crisis, which began in the United States in 2007, only serves to highlight further the importance of central bank policies. The aim of this volume is to take stock of where we are in the realm of the practice of central banking and considers some of the implications arising from the ongoing crisis.

AA / International- internationaal --- 333.111.0 --- 333.80 --- 333.820 --- 333.846.0 --- 333.139.0 --- Algemeenheden. Theoretische en beschrijvende studies. Centrale banken. --- Geld-, bank- en kredietpolitiek. Kapitaalmarkt en -rente: algemeenheden. --- Geldbeleid, bankbeleid en kredietbeleid: algemeenheden. --- Verband tussen het monetair, bank- en kredietbeleid en de economische ontwikkeling: algemeenheden. --- Controle en nationalisatie van de banken: algemeen. --- Banks and banking, Central. --- Monetary policy. --- Banks and banking, Central --- Monetary policy --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Banker's banks --- Banks, Central --- Central banking --- Central banks --- Banks and banking --- Algemeenheden. Theoretische en beschrijvende studies. Centrale banken --- Controle en nationalisatie van de banken: algemeen --- Geld-, bank- en kredietpolitiek. Kapitaalmarkt en -rente: algemeenheden --- Geldbeleid, bankbeleid en kredietbeleid: algemeenheden --- Verband tussen het monetair, bank- en kredietbeleid en de economische ontwikkeling: algemeenheden --- Business, Economy and Management --- Economics

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One of the most salient features of the 2007-9 global financial crisis was the role played by global banking and multinational banks in transmitting international financial shocks and maintaining credit stability in domestic and international financial markets. This edited volume on "Global Banking, Financial Markets and Crises" contains original papers that examine various issues concerning the changing role of global banks during crisis periods. The papers in this volume also address the impact of global financial crises on multinational banking, domestic and international financial markets, and emerging economies. Particular emphasis is given on the regional experiences of cross-border banking, domestic and global financial market integration, portfolio investment, cross asset market spillovers, cross country crisis contagion, monetary policy transmission mechanism, and the role of foreign banks during crisis periods compared to non-crisis periods in various advanced countries as well as emerging economies. This volume also presents various important policy implications and lessons from recent global financial crises.

Banks and banking, International. --- Financial crises. --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- International banking --- Offshore banking (Finance) --- Transnational banking --- Crises --- Financial institutions, International --- International finance --- Financial crises --- Banks and banking, International --- E-books --- AA / International- internationaal --- ASI / Asia - Azië - Asie --- LAM / Latin America - Latijns Amerika - Amérique Latine --- EEC / European Union - EU -Europese Unie - Union Européenne - UE --- US / United States of America - USA - Verenigde Staten - Etats Unis --- 333.602 --- 333.101 --- 333.109 --- 333.137 --- 333.820 --- Activiteiten en evolutie van de financiële markten --- Banksysteem en bankstelsel --- Veiligheid. Bankovervallen. Bankrisico's --- Buitenlandse en koloniale banken.Bancaire internationalisering --- Geldbeleid, bankbeleid en kredietbeleid: algemeenheden --- Business & Economics --- Accounting. --- Financial accounting. --- Accounting --- Financial. --- Banks & Banking. --- Finance.

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Many of the assumptions that underpin mainstream macroeconomic models have been challenged as a result of the traumatic events of the recent financial crisis. Thus, until recently, it was widely agreed that although the stock of money had a role to play, in practice it could be ignored as long as we used short-term nominal interest rates as the instrument of policy because money and other credit markets would clear at the given policy rate. However, very early on in the financial crisis interest rates effectively hit zero percent and so central banks had to resort to a wholly new set of largely untested instruments to restore order, including quantitative easing and the purchase of toxic financial assets. This book brings together contributions from economists working in academia, financial markets and central banks to assess the effectiveness of these policy instruments and explore what lessons have so far been learned.

Interest rates --- Monetary policy --- Global Financial Crisis, 2008-2009 --- AA / International- internationaal --- 333.820 --- 333.823 --- 333.831.1 --- 333.17 --- 339.5 --- Global Economic Crisis, 2008-2009 --- Subprime Mortgage Crisis, 2008-2009 --- Financial crises --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Money market rates --- Rate of interest --- Rates, Interest --- Interest --- Geldbeleid, bankbeleid en kredietbeleid: algemeenheden. --- liquiditeitsbeleid.Kascoëfficiënten en liquiditeitscoëfficiënten. --- krediet op korte termijn. --- Crises, saneringen en hervormingen van het bankwezen. --- Money market. Capital market --- Interest rates. --- Monetary policy. --- Global Financial Crisis, 2008-2009. --- Macroeconomics. --- Finance --- Government policy. --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- Funding --- Funds --- Economics --- Currency question --- Business, Economy and Management --- Geldbeleid, bankbeleid en kredietbeleid: algemeenheden --- liquiditeitsbeleid.Kascoëfficiënten en liquiditeitscoëfficiënten --- krediet op korte termijn --- Crises, saneringen en hervormingen van het bankwezen