Advanced Search
MyIDEAS: Login to save this book or follow this series

Implementing Monetary Policy

Contents:

Author Info

  • William A Allen
Registered author(s):

    Abstract

    The purpose of the paper is to discuss how monetary policy decisions made by the board or monetary policy committee of a central bank can be implemented. It distinguishes between the polar extremes of direct and indirect methods of implementation, and explains why indirect methods are generally preferred. It describes the circumstances in which various elements of a central bank’s balance sheet can grow very quickly, threatening to cause the growth rate of central bank money to rise to levels inconsistent with the objectives of monetary policy, and discusses what offsetting measures the central bank can take to contain the growth of central bank money. It describes in detail how open market operations can be conducted, and discusses techniques of intervention in foreign exchange markets. Finally, it reviews the usefulness of direct controls of instruments of monetary policy, and discusses the conditions in which such controls might be needed and how they can best be designed.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.bankofengland.co.uk/education/ccbs/ls/pdf/lshb04.pdf
    File Function: English version
    Download Restriction: no

    Bibliographic Info

    as in new window
    This book is provided by Centre for Central Banking Studies, Bank of England in its series Lectures with number 4 and published in 2004.

    ISBN: 1 85730 148 X
    Handle: RePEc:ccb:lectur:4

    Contact details of provider:
    Postal: Threadneedle Street, London, EC2R 8AH
    Phone: +44 (020) 7601 4444
    Fax: +44 (020) 7601 5460
    Email:
    Web page: http://www.bankofengland.co.uk/education/Pages/ccbs/default.aspx
    More information through EDIRC

    Related research

    Keywords: Monetary Policy;

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:ccb:lectur:4. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Maria Brady).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.