Monetary policy and inflation in Spain:
Gespeichert in:
| Format: | Buch |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
Basingstoke, Hampshire [u.a.]
Macmillan [u.a.]
1998
|
| Ausgabe: | 1. publ. |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XVIII, 601 S. graph. Darst. |
| ISBN: | 0333717880 031221295X |
Internformat
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Datensatz im Suchindex
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|---|---|
| adam_text |
/MONETARY POLICY AND INFLATION IN SPAIN EDITED BY JOSE LUIS MALO DE
MOLINA JOSE VIIIALS AND FERNANDO GUTIERREZ FOR THE RESEARCH DEPARTMENT
BANCO DE ESPAFIA CONTENTS LIST OF FIGURES X LIST OF TABLES XIV LIST OF
BOXES XVII NOTES ON THE CONTRIBUTORS XVIII PART I INTRODUCTION AND
OVERVIEW INTRODUCTION 3 JOSE LUIS MALO DE MOLINA AIMS OF THE BOOK 3 THE
ANTI-INFLATIONARY AIM OF MONETARY POLICY 4 AUTONOMY OF THE CENTRAL BANK
7 THE SPANISH EXPERIENCE 8 STRUCTURE AND CONTENT OF THE BOOK 14 1
MONETARY POLICY AND INFLATION: FROM THEORY TO PRACTICE 25 JOSE VIHALS
INTRODUCTION 25 THE COSTS OF INFLATION 26 THE MAIN DETERMINANTS OF
INFLATION 32 ALTERNATIVE MONETARY STRATEGIES FOR FIGHTING INFLATION 40
CONCLUSIONS 45 APPENDIX 48 2 DOES THE ADOPTION OF INFLATION TARGETS
AFFECT CENTRAL BANK BEHAVIOUR? 56 ALVARO ALMEIDA AND CHARLES A.E.
GOODHART INTRODUCTION 56 EXECUTION OF MONETARY POLICY 60 INFLATION
FORECASTING AND CONTROLLABILITY 90 CREDIBILITY OF THE INFLATION TARGET
102 CONCLUSIONS 112 PART II THE TRAJECTORY OF SPANISH MONETARY POLICY 3
TRENDS IN THE MONETARY POLICY STRATEGY IN SPAIN 131 JUAN AYUSO AND JOSE
LUIS ESCRIVD INTRODUCTION 131 VI CONTENTS 1973-83: STANDARD MONETARY
POLICY STRATEGY IN A CLOSED ECONOMY 132 1984-9 (JUNE): THE TRANSITION TO
A NEW STRATEGY 135 MONETARY POLICY STRATEGY WITHIN THE ERM FRAMEWORK 141
FROM 1995: THE NEW ONE-LEVEL MONETARY POLICY STRATEGY 153 SUMMARY 154 4
THE ALP LONG-RUN DEMAND FUNCTION 159 JUAN LUIS VEGA INTRODUCTION 159 ALP
LONG-RUN DEMAND: COINTEGRATION AND STABILITY 162 CONCLUSIONS 169
APPENDIX: ECONOMETRIC TESTS USED 172 5 FISCAL CONSTRAINTS ON CENTRAL
BANK INDEPENDENCE AND PRICE STABILITY 175 MATTHEW B. CANZONERI AND
BEHZAD DIBA INTRODUCTION 175 MONETARY-DOMINANT (MD) AND FISCAL-DOMINANT
(FD) REGIMES 178 SOME PRACTICAL EXERCISES: CHANGES IN FISCAL AND
MONETARY TARGETS 184 WHICH REGIME IS OPERATIVE? CAN THE MD REGIME BE
ASSURED? 191 CONCLUSION 194 APPENDIX 196 PART III SPANISH MONETARY
POLICY: CURRENT SITUATION AND OUTLOOK 6 MONETARY POLICY FOLLOWING THE
LAW ON THE AUTONOMY OF THE BANCO DE ESPANA 203 FERNANDO GUTIERREZ
INTRODUCTION 203 THE NEW LEGAL FRAMEWORK OF MONETARY POLICY: AUTONOMY OF
THE BANCO DE ESPANA 204 WHY A DIRECT INFLATION TARGET? 212 THE NEW
SPANISH MONETARY POLICY STRATEGY 222 RECENT SPANISH MONETARY POLICY:
ASSESSMENT AND OUTLOOK 229 7 ANALYSIS OF INFLATION FROM THE MONETARY
POLICY STANDPOINT 242 PILAR L'HOTELLERIE-FALLOIS INTRODUCTION 242
CONTENTS VII INFLATION AND VARIABLES PROVIDING INFORMATION ON THE TREND
OF PRICES: THE EXPERIENCE OF OTHER COUNTRIES 243 INFLATION MONITORING
AND ANALYSIS IN SPAIN 248 FINAL CONSIDERATIONS 269 APPENDIX: BREAKDOWN
OF THE GDP AND FINAL DEMAND DEFLATORS 271 8 MEASURES OF THE INFLATION
PROCESS 278 LUIS JULIAN ALVAREZ AND MARIA DE LOS LLANOS MATEA
INTRODUCTION 278 CORE INFLATION AND UNDERLYING INFLATION 279 MEASURES OF
INFLATION WITH LIMITED-INFLUENCE ESTIMATORS 287 PERMANENT INFLATION AND
LATENT INFLATION 293 CONCLUSIONS 300 APPENDIX 303 9 MONETARY AND CREDIT
AGGREGATES AS INDICATORS OF INFLATION 309 ALBERTO CABRERO BRAVO, JORGE
MARTINEZ PAGES AND MARIA PEREZ-JURADO INTRODUCTION 309 COMPOSITION AND
TREATMENT OF MONETARY AND CREDIT AGGREGATES 311 MONETARY AND CREDIT
AGGREGATES AS LEADING INDICATORS OF INFLATION 317 WEIGHTED MONETARY
AGGREGATES 327 CONCLUSIONS 335 L0 THE YIELD CURVE AS A MONETARY POLICY
INDICATOR 343 JUAN AYUSO AND SOLEDAD NUNEZ INTRODUCTION 343 MEASURING
THE TERM STRUCTURE OF INTEREST RATES 343 TERM STRUCTURE AS AN INDICATOR
OF EXPECTATIONS ABOUT INFLATION AND INTEREST RATES 348 EXAMPLES 356
SUMMARY AND CONCLUSIONS 362 APPENDIX 364 LI A BVAR FORECASTING MODEL FOR
THE SPANISH ECONOMY 368 LUIS JULIAN ALVAREZ, FERNANDO C. BALLABRIGA AND
JAVIER JARENO INTRODUCTION 368 BRIEF DESCRIPTION OF THE BVAR METHODOLOGY
369 SELECTION OF THE PRINCIPAL VARIABLES OF THE SPANISH ECONOMY 377 A
FORECASTING MODEL FOR THE SPANISH ECONOMY 380 VIII CONTENTS CONCLUDING
REMARKS 390 APPENDIX: THE PRIOR DISTRIBUTION USED IN THE BVAR MODEL 393
12 MONETARY POLICY INSTRUMENTATION: CURRENT SITUATION AND OUTLOOK 400
ELOISA ORTEGA AND GABRIEL QUIROS INTRODUCTION 400 BASIC ASPECTS OF
INSTRUMENTATION: FUNCTIONS, PRINCIPLES AND ALTERNATIVE MODELS 401
MONETARY POLICY INSTRUMENTATION IN SPAIN 406 INSTRUMENTATION IN THE
EUROPEAN UNION COMPARED WITH THAT IN SPAIN 426 OUTLOOK 437 PART IV THE
MONETARY POLICY TRANSMISSION MECHANISM 13 THE ROLE OF THE BANKING SYSTEM
IN THE MONETARY TRANSMISSION MECHANISM 449 MARIA TERESA SASTRE DE MIGUEL
INTRODUCTION 449 BASIC FEATURES OF THE BEHAVIOUR OF BANK INTEREST RATES
452 EXPLANATORY FEATURES IN THE RECENT BEHAVIOUR OF BANK INTEREST RATES
CONCLUSIONS APPENDIX: COMPOSITE LENDING RATE EQUATIONS, BY TERM 14 THE
IMPACT OF INTEREST RATES ON PRIVATE SPENDING IN SPAIN ANGEL ESTRADA,
IGNACIO HERNANDO AND JAVIER VALLES INTRODUCTION THEORETICAL ASPECTS
QUARTERLY DEMAND EQUATIONS FOR THE COMPONENTS OF HOUSEHOLD AND CORPORATE
SPENDING SIMULATION OF THE EFFECTS OF CHANGES IN INTEREST RATES THE
ENDOGENEITY OF CHANGES IN INTEREST RATES CONCLUSIONS APPENDIX 1:
CONSUMER EXPENDITURE FUNCTIONS APPENDIX 2: THE PRIVATE PRODUCTIVE
INVESTMENT FUNCTION 15 THE FINANCIAL POSITION OF ECONOMIC AGENTS AND
MONETARY POLICY JUAN MARIA PENALOSA INTRODUCTION 464 482 484 489 489 490
492 499 502 507 509 514 519 519 CONTENTS IX GENERAL FEATURES OF THE
FINANCIAL POSITIONS OF NON-FINANCIAL SECTORS 522 THE FINANCIAL POSITION
OF HOUSEHOLDS 526 THE FINANCIAL POSITION OF COMPANIES 538 THE FINANCIAL
POSITION OF GENERAL GOVERNMENT 549 CONCLUSIONS 556 APPENDIX: RANGES OF
VALUES USED TO CLASSIFY THE CRITERIA DEFINING THE ROLE OF THE FINANCIAL
POSITION OF SECTORS IN THE MONETARY TRANSMISSION MECHANISM 559 16 A
STRUCTURAL MODEL FOR THE ANALYSIS OF THE MONETARY POLICY TRANSMISSION
MECHANISM 564 JAVIER ANDRES, RICARDO MESTRE AND JAVIER VALLES
INTRODUCTION 564 MONETARY POLICY TRANSMISSION: AN AGGREGATE SUPPLY AND
DEMAND MODEL 565 MONETARY POLICY SIMULATIONS 573 CONCLUSIONS 586
APPENDIX: THE ESTIMATED MODEL 588 INDEX 595 |
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| discipline | Wirtschaftswissenschaften |
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| spelling | Monetary policy and inflation in Spain ed. by José Luis Malo de Molina ... 1. publ. Basingstoke, Hampshire [u.a.] Macmillan [u.a.] 1998 XVIII, 601 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Monetary policy -- Spain Inflation (Finance) -- Spain Inflation (DE-588)4026887-1 gnd rswk-swf Geldpolitik (DE-588)4019902-2 gnd rswk-swf Spanien Spanien (DE-588)4055964-6 gnd rswk-swf (DE-588)4143413-4 Aufsatzsammlung gnd-content Spanien (DE-588)4055964-6 g Geldpolitik (DE-588)4019902-2 s Inflation (DE-588)4026887-1 s DE-604 Malo de Molina, José Luis 1950- Sonstige (DE-588)140453695 oth GBV Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=008457638&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Monetary policy and inflation in Spain Monetary policy -- Spain Inflation (Finance) -- Spain Inflation (DE-588)4026887-1 gnd Geldpolitik (DE-588)4019902-2 gnd |
| subject_GND | (DE-588)4026887-1 (DE-588)4019902-2 (DE-588)4055964-6 (DE-588)4143413-4 |
| title | Monetary policy and inflation in Spain |
| title_auth | Monetary policy and inflation in Spain |
| title_exact_search | Monetary policy and inflation in Spain |
| title_full | Monetary policy and inflation in Spain ed. by José Luis Malo de Molina ... |
| title_fullStr | Monetary policy and inflation in Spain ed. by José Luis Malo de Molina ... |
| title_full_unstemmed | Monetary policy and inflation in Spain ed. by José Luis Malo de Molina ... |
| title_short | Monetary policy and inflation in Spain |
| title_sort | monetary policy and inflation in spain |
| topic | Monetary policy -- Spain Inflation (Finance) -- Spain Inflation (DE-588)4026887-1 gnd Geldpolitik (DE-588)4019902-2 gnd |
| topic_facet | Monetary policy -- Spain Inflation (Finance) -- Spain Inflation Geldpolitik Spanien Aufsatzsammlung |
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