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0 (hodnocen0 x )

EB

ONLINE

Singapore : Springer Singapore Pte. Limited, 2022

1 online resource (286 pages)

ISBN 9789811668272 (electronic bk.)

ISBN 9789811668265

Print version: Warjiyo, Perry Central Bank Policy Mix: Issues, Challenges, and Policy Responses Singapore : Springer Singapore Pte. Limited,c2022 ISBN 9789811668265

Introduction -- The Role of Macroprudential Policy in Maintaining Financial System Stability.

Concept of Monetary Policy -- Monetary Policy Framework -- Inflation Targeting as a Framework for Monetary Policy -- Closing Notes -- References -- 4 Exchange Rate Policy and Capital Flow Management -- Introduction -- Conceptual and Empirical Dimensions -- Practice of Capital Flow Management -- Several Empirical Issues on Monetary Policy Trilemma -- Closing Notes -- References -- 5 Financial Stability and Systemic Risk -- Introduction -- Understanding the Financial System -- The Anatomy of Systemic Risk -- Interconnectedness, Too Big to Fail and Common Risk Factor -- Procyclicality and Countercyclical Policy -- Materialization and Analysis of Systemic Risk -- Materialization of Systemic Risk -- Monitoring and Analysis of Systemic Risk -- Closing -- References -- Part III Financial Stability and Macroprudential Policy -- 6 Macroprudential Policy and Institutional Arrangement ---

Introduction -- The Role of Macroprudential Policy in Maintaining Financial System Stability.

Intro -- The Governor Remarks -- Foreword from Deputy Governor -- Acknowledgements -- Contents -- Contributors -- List of Figures -- List of Tables -- Part I New Paradigm of Central Bank Policy Mix -- 1 Central Bank Policy Mix: Key Concepts and Indonesia’s Experience -- Introduction -- What Has the Global Financial Crisis (GFC) Taught Us? -- A Post-GFC Paradigm of Central Bank Policy Mix -- Bank Indonesia’s Policy Mix -- What’s Next: Dealing with Diminishing Globalisastion and Rising Digitalization -- Closing -- References -- 2 Central Bank Policy Mix: Issues, Challenges, and Policy Responses -- Introduction -- Financial Crisis and Central Bank Policy Challenges -- From ITF to Policy Mix -- Salient Policy Responses: Pro-stability and Pro-growth -- Challenges Ahead -- Closing -- References -- Part II Monetary Theory and Policy -- 3 Monetary Policy Framework -- Introduction ---

Exercises with a Menu of Monetary and Macroprudential Policy Mix.

Policy Challenges -- Policy Discussion: Managing Capital Flows -- Monetary Policy Versus Macroprudential Policy -- Policy Discussion -- Policy Response -- Bank Indonesia Policy Mix -- Optimal Policy Response -- Structural Reform: Promoting FDI -- Conclusion -- References -- 9 Central Bank of the Republic of Turkey Policy Mix -- Introduction -- Some Lessons Learned Since the GFC -- Post-crisis Dynamics and Spillovers to the EMES -- A Self-feeding Cycle Amplifies the Effects of Capital Inflows -- Policy Trade-Off Under Standard Inflation Targeting -- Turkey’s Policy Mix Experience -- Inflation in Turkey: 2001-2018 -- Monetary Policy Framework -- Financial Stability Committee (FSC): A Significant Step for a Formal Institutional Framework for MaP -- Broad Objectives of Macroprudential Policy -- What Was Achieved? -- Recent Developments in Turkey -- Reversal of the Global Financial Cycle ---

Guide for Policy Exercise -- The Model Structure and Feedback-Loop Mechanism -- References -- 12 Policy Mix Case Discussion -- Introduction -- Group 1 -- Group 2 -- Group 3 -- Group 4 -- Baseline Scenario: No Feedback Loop-No Shocks (2) -- Baseline Exercise 1: No Feedback Loop-No Shocks (3) -- Baseline Exercise 2: Feedback Loop-Shocks (1) -- Policy Mix Exercise-No Feedback Loop (Near Term) -- Policy Mix Exercise-Feedback Loop (Long Term) -- Policy Mix Exercise -- Group 5 -- Baseline Exercise 1: No Feedback Loop-No Shocks -- Baseline Exercise 2-With Feedback Loop and Shocks -- Group 6 -- How Close Are Monetary Stability and Financial Stability? -- Baseline Policy with No Feedback Loop and No Shocks -- Baseline Policy with Feedback Loop and Shocks -- References -- 13 Central Banking Practices in the Digital Era: Salient Challenges, Lessons, and Implications -- Introduction -- Digital Transformation: Challenges and Opportunities in the New Era -- New Realities and Lessons Learned -- Conclusion and Implications -- References -- Correction to: Central Bank Policy Mix: Issues, Challenges, and Policy Responses -- Correction to: P. Warjiyo and S. M. Juhro (eds.), Central Bank Policy Mix: Issues, Challenges, and Policy Responses, https://doi.org/10.1007/978-981-16-6827-2 -- Bibliography -- Index.

Macroprudential Measures -- Concluding Remarks -- Empirical Study -- Why Turkey? -- Global Liquidity and the Impairment of Local Monetary Policy Transmission -- Reserve Requirements, Liquidity Risk and Bank Lending Behavior -- Liquidity Channel: Reserve Requirements and Funding from CBRT -- Foreign Currency Risk, Systemic Externalities and Real Effects -- References -- 10 Reserve Bank of India Policy Mix -- Introduction -- Issue 1: Growth Versus Inflation -- Monetary Policy Framework: Recent Experience of Flexible Inflation Targeting (FIT) -- Why Did RBI Shift to FIT? -- Outcomes Under FIT -- Monetary Policy Operating Procedure -- Issue II: Interaction Between Monetary Policy and External Sector -- Liquidity Management -- Direct Investment and Portfolio Investment -- Equity and Debt Flows -- Exchange Rate Movement -- Drivers of Liquidity Management -- Issue III: Liquidity Management Versus Nonbanking Sector ---

Exercises with a Menu of Monetary and Macroprudential Policy Mix.

Issue IV: Monetary Policy Versus Fiscal Policy -- Government Market Borrowing -- Transmission -- Issue V: Surplus Transfer to the Government -- Relevance of Capital for Central Banks -- Special Issue: Asset Quality of Indian Banking System -- Asset Quality Review (AQR) -- Regulatory Steps -- Restructuring -- Prompt Corrective Action (PCA) -- Central Repository of Information on Large Credits (CRILC) -- Functionalities in CRILC -- The Insolvency and Bankruptcy Code 2016 -- Outlook: India in the World Economy -- Macroprudential Regulations -- Part V Case Study on Central Bank Policy Mix -- 11 Policy Mix Case Development -- Introduction -- Learning Objectives -- Target Audience -- Key Issues -- Case Description -- Identification of the Case -- Supporting Evidence and Policy Issues -- Activities -- Case Questions and Policy Exercises -- Base Line Policy Exercises ---

Policy Challenges -- Policy Discussion: Managing Capital Flows -- Monetary Policy Versus Macroprudential Policy -- Policy Discussion -- Policy Response -- Bank Indonesia Policy Mix -- Optimal Policy Response -- Structural Reform: Promoting FDI -- Conclusion -- References -- 9 Central Bank of the Republic of Turkey Policy Mix -- Introduction -- Some Lessons Learned Since the GFC -- Post-crisis Dynamics and Spillovers to the EMES -- A Self-feeding Cycle Amplifies the Effects of Capital Inflows -- Policy Trade-Off Under Standard Inflation Targeting -- Turkey’s Policy Mix Experience -- Inflation in Turkey: 2001-2018 -- Monetary Policy Framework -- Financial Stability Committee (FSC): A Significant Step for a Formal Institutional Framework for MaP -- Broad Objectives of Macroprudential Policy -- What Was Achieved? -- Recent Developments in Turkey -- Reversal of the Global Financial Cycle ---

Reversal of the Global Financial Cycle and Gradual Normalization of Monetary Policy.

Guide for Policy Exercise -- The Model Structure and Feedback-Loop Mechanism -- References -- 12 Policy Mix Case Discussion -- Introduction -- Group 1 -- Group 2 -- Group 3 -- Group 4 -- Baseline Scenario: No Feedback Loop-No Shocks (2) -- Baseline Exercise 1: No Feedback Loop-No Shocks (3) -- Baseline Exercise 2: Feedback Loop-Shocks (1) -- Policy Mix Exercise-No Feedback Loop (Near Term) -- Policy Mix Exercise-Feedback Loop (Long Term) -- Policy Mix Exercise -- Group 5 -- Baseline Exercise 1: No Feedback Loop-No Shocks -- Baseline Exercise 2-With Feedback Loop and Shocks -- Group 6 -- How Close Are Monetary Stability and Financial Stability? -- Baseline Policy with No Feedback Loop and No Shocks -- Baseline Policy with Feedback Loop and Shocks -- References -- 13 Central Banking Practices in the Digital Era: Salient Challenges, Lessons, and Implications -- Introduction -- Digital Transformation: Challenges and Opportunities in the New Era -- New Realities and Lessons Learned -- Conclusion and Implications -- References -- Correction to: Central Bank Policy Mix: Issues, Challenges, and Policy Responses -- Correction to: P. Warjiyo and S. M. Juhro (eds.), Central Bank Policy Mix: Issues, Challenges, and Policy Responses, https://doi.org/10.1007/978-981-16-6827-2 -- Bibliography -- Index.

Institutional Arrangements -- Navigating the Financial System’s New Landscape -- Closing -- References -- 7 The Linkage Between Monetary and Financial Stability: Some Policy Perspectives -- Preview of Monetary Stability and the Financial Stability Nexus -- Financial Sector Behaviour and Monetary Policy Effectiveness -- Integration of the Monetary and Financial System Stability Framework -- Policy Instrument Mix as a Key Strategy -- The Objectives -- Policy Mix Variations -- Technical Aspects of Implementation -- Conclusion and Implications -- Adjustment of Mandate and Its Consequences on Policy Governance -- Mandate for the Implementation of Macroprudential and Microprudential Policies -- References -- Part IV Country Experience and Empirical Study -- 8 Bank Indonesia Policy Mix -- Introduction -- Policy Context -- Global -- Domestic -- Policy Challenges and Discussion ---

Macroprudential Measures -- Concluding Remarks -- Empirical Study -- Why Turkey? -- Global Liquidity and the Impairment of Local Monetary Policy Transmission -- Reserve Requirements, Liquidity Risk and Bank Lending Behavior -- Liquidity Channel: Reserve Requirements and Funding from CBRT -- Foreign Currency Risk, Systemic Externalities and Real Effects -- References -- 10 Reserve Bank of India Policy Mix -- Introduction -- Issue 1: Growth Versus Inflation -- Monetary Policy Framework: Recent Experience of Flexible Inflation Targeting (FIT) -- Why Did RBI Shift to FIT? -- Outcomes Under FIT -- Monetary Policy Operating Procedure -- Issue II: Interaction Between Monetary Policy and External Sector -- Liquidity Management -- Direct Investment and Portfolio Investment -- Equity and Debt Flows -- Exchange Rate Movement -- Drivers of Liquidity Management -- Issue III: Liquidity Management Versus Nonbanking Sector ---

001896572

express

(Au-PeEL)EBL6874848

(MiAaPQ)EBC6874848

(OCoLC)1298388871