Central Bank Policy Mix : : Handbook of Central Banking Studies.

Central Bank Policy Mix : : Handbook of Central Banking Studies.

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Bibliographic Details
:
Warjiyo, Perry.
TeilnehmendeR:
Juhro, Solikin M.
Place / Publishing House:Singapore : : Springer Singapore Pte. Limited,, 2022.
©2022.
Year of Publication:2022
Edition:1st ed.
Language:English
Online Access:
Physical Description:1 online resource (286 pages)
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Table of Contents:
  • 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
  • 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.
  • 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
  • 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.
  • 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
  • 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
  • Exercises with a Menu of Monetary and Macroprudential Policy Mix.
  • 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.

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