Detalhe do produto
Livro Impresso ISBN: 9788522519514 Edição: 1 Ano: 2017 Largura: 16.00 cm Comprimento: 23.00 cm Peso: 250 gramas Número de Páginas: 148
Essays and conversations on monetary policy II
"In the first part of this book, with the support of solid theoretical fundamentals and the critical spirit of an analyst with a global economic perspective, José Júlio Senna examines different aspects of the financial crisis and offers us a lengthy discussion of the state of the world economy in the post-crisis period. In particular, he focuses on issues related to the appearance of deflationary forces in the developed world and on the reasons why economic recovery has been so sluggish. The challenges posed to those in charge of monetary policy by the new economic and financial environment receive permanent attention, particularly regarding the Fed. The second part of the book consists of four interviews conducted by Senna with four distinguished specialists on monetary policy. Those are quite interesting conversations, covering several issues discussed in the author?s essays. Timely and intriguing, this book is a must-read for those who want to understand the main challenges faced by the world economy today." Affonso Celso Pastore A. C. Pastore & Associados. Former president of the Banco Central
Part I Essays
1 Slow growth and deflationary forces: no sign of relief
Debt overhang
An asymmetric adjustment in the Eurozone
Stagnant real wages in advanced economies
Deflationary forces
An unbalanced economic recovery
Quantitative easing
Concluding remarks
References
2 The FED at the crossroads: the exit strategy and policy implementation
Introduction
Extraordinary measures for extraordinary circumstances
The new liquidity facilities and the Fed’s balance sheet
Quantitative easing in the US
The federal funds market
Exit strategy principles
Policy implementation
References
3 The world economy, the price of oil and monetary policy
The world economy
The price of oil
Monetary policy
References
Essays and Conversations on Monetary Policy
4 Productivity and monetary policy
Introduction
Innovation and productivity
Measurement problems
Productivity slowdown: the two sides of the debate
Lack of support for the mismeasurement hypothesis
Implications for monetary policy
Concluding remarks
References
Part II Conversations
5 Conversation with Paul De Grauwe
Monetary integration
Secular stagnation and deflationary forces
Mario Draghi’s quantitative easing
Mortgage lending
6 Conversation with William White
Price stability
Technology and monetary policy
Monetary policy and the equilibrium real rate of interest
Ultra easy monetary policy
7 Conversation with Laurence Meyer
The Fed’s dilemma
Negative interest rates
Oil and the world economy
Productivity slowdown
8 Conversation with Klaus Schmidt-Hebbel
The Chilean experience with inflation targeting
The “new normal” and the Chilean economy
Commodity dependence