You have no items in your shopping cart.

The Concrete Euro

The Concrete Euro Implementing Monetary Policy in the Euro Area

  • Author:
  • Publisher: Oxford University Press
  • ISBN: 9780198713647
  • Published In: October 2014
  • Format: Paperback , 416 pages
  • Jurisdiction: International ? Disclaimer:
    Countri(es) stated herein are used as reference only

List Price: HKD 500.00

HKD 485.00 Save HKD 15.00 (3%)

Delivery Time: around 4-5 weeks
Extra 2-10 working days if shipping address outside Hong Kong
Free delivery Hong Kong?
Hong Kong: free delivery (order over HKD 1000)
OR
  • Description 
  • Contents 
  • Author 
  • Reviews
  • Details

    • Written by leading money market operators at the European Central Bank. This book provides an insider account of monetary implementation policy
    • Looks at the theory, history, practice, and future of the framework, and the role of standing facilities, open market operations, reserve requirements, and collateral
    • Compares the Eurosystem experience with that of the Federal Reserve of the United States, the Bank of England, and the Bank of Japan
    • Includes a section on special circumstances and experiences during crisis periods, including the recent sub-prime crisis
    • Highlights interconnections between the operational framework and financial stability

    The euro area's framework for monetary policy implementation was introduced in 1999. Eleven years on, this volume examines the theoretical and historical underpinnings of the framework, how it has fared in practice, and what challenges it is likely to face in the future. The technology serving the implementation of monetary policy has historically been the exclusive preserve of a narrow group of specialists but the recent global financial crisis brought the issue into the public eye, as the supply of base money exploded while inflation risked turning into deflation. This book addresses all the aspects of monetary policy implementation, with particular emphasis on the European Central Bank and the euro, allowing a more informed assessment of a neglected, but important, aspect of economic life, and a better understanding of the exceptional developments brought about by the financial crisis. Written by the leading money market operators at the European Central Bank who were involved in creating and implementing the framework, and who are still managing monetary policy implementation at the Bank today, this book provides a rare insider account of how the framework has evolved, how it works in practice, and the challenges of monetary policy implementation going forward.

     

    Readership: Students and economists interested in monetary affairs, central bankers, and policy makers dealing with monetary policy issues.

  • Introduction
    1: U. Bindseil: Theory of Monetary Policy Implementation
    2: M. Galvenius and P. Mercier: The Story of the Eurosystem Framework
    3: F. Papadia and T. Välimäki: The Functioning of the Eurosystem framework since 1999
    4: U. Bindseil, P. Mercier, F. Papadia and F. Würtz: Challenges for the Next Decade of Monetary Policy Implementation

  • Paul Mercier is Principal Adviser at the European Central Bank (ECB) and was chairman of the taskforce that delivered the specification of the monetary policy implementation framework adopted by the ECB in 1999.

    Francesco Papadia is Director General for Market Operations of the European Central Bank. He previously held a position at the Banca d'Italia and acted as an economic advisor to the EU Commission.

     

    Contributors: 
    Ulrich Bindseil, Deputy Director General, Market Operations, European Central Bank, Germany
    Mats Galvenius, Deputy Managing Director, Swedish Insurance Federation, Sweden
    Paul Mercier, Principal Adviser, European Central Bank, Germany
    Francesco Papadia, Director General, European Central Bank, Germany
    Tuomas Välimäki, Head of Market Operations, Bank of Finland, Finland
    Flemming Würtz, Head of Liquidity Management Section, Market Operations Analysis Division, European Central Bank, Germany

  • "During the opening stages of the financial crisis, the ECB provided the necessary liquidity to euro-system banks more smoothly than other Central Banks. This book describes how that was done. More recently, a second leg to the crisis, in the guise of the sovereign debt crisis in certain peripheral countries of the euro-zone, has blown up. The operational reactions of the ECB to this are also covered, up until mid-2010. This book provides a unique insight into the ECB's monetary operations, both in normal and in crisis conditions. A 'must read' for all those concerned with Central Banking, crisis management and the inner workings of the euro-system. " - Professor Charles Goodhart, London School of Economics

    "These four papers by six ECB economists provide the most systematic and detailed look at how the European Central Bank has implemented its monetary policy, both during the all-too-short "normal" times of the Bank's initial years and then during the 2008-10 crisis period. The analysis is clear and elegant, and the empirical work provides useful insights as well. Anyone seriously interested in how monetary policy is actually carried out - either by the ECB or by other central banks - will want to read these papers. " - Benjamin M. Friedman, William Joseph Maier Professor of Political Economy, Harvard University

You may also be interested in these books:

Drafting Employment Documents for Expatriates, 2nd Edition
Drafting Employment Documents for Expatriates, 2nd Edition

List Price: HKD 1,350.00

HKD 1,309.50 Save HKD 40.50 (3%)

How to Lead a Values-Based Professional Services Firm: 3 Keys to Unlock Purpose and Profit
How to Lead a Values-Based Professional Services Firm: 3 Keys to Unlock Purpose and Profit

List Price: HKD 400.00

HKD 388.00 Save HKD 12.00 (3%)

Armstrong's Handbook of Human Resource Management Practice, 16th Edition
Armstrong's Handbook of Human Resource Management Practice, 16th Edition

List Price: HKD 625.00

HKD 606.25 Save HKD 18.75 (3%)

Individual Income Tax Planning for Expatriates in China, 6th Edition
Individual Income Tax Planning for Expatriates in China, 6th Edition

List Price: HKD 1,280.00

HKD 640.00 Save HKD 640.00 (50%)

Hong Kong Employment Law: A Practical Guide, 5th Edition
Hong Kong Employment Law: A Practical Guide, 5th Edition

List Price: HKD 1,500.00

HKD 1,455.00 Save HKD 45.00 (3%)

The Employee Experience: How to Attract Talent, Retain Top Performers, and Drive Results
The Employee Experience: How to Attract Talent, Retain Top Performers, and Drive Results

List Price: HKD 280.00

HKD 271.60 Save HKD 8.40 (3%)

Butterworths Employment Law Handbook 2023
Butterworths Employment Law Handbook 2023

List Price: HKD 3,451.00

HKD 3,347.47 Save HKD 103.53 (3%)

Hiring Greatness: How to Recruit Your Dream Team and Crush the Competition
Hiring Greatness: How to Recruit Your Dream Team and Crush the Competition

List Price: HKD 270.00

HKD 261.90 Save HKD 8.10 (3%)

Employees' Intellectual Property Rights, 2nd Edition
Employees' Intellectual Property Rights, 2nd Edition

List Price: HKD 1,850.00

HKD 1,794.50 Save HKD 55.50 (3%)

Employment Law and Practice in Hong Kong, 2nd Edition
Employment Law and Practice in Hong Kong, 2nd Edition

List Price: HKD 4,701.00

HKD 4,559.97 Save HKD 141.03 (3%)

International Employment Law Disputes
International Employment Law Disputes

List Price: HKD 2,100.00

HKD 2,037.00 Save HKD 63.00 (3%)

Settlement of Individual Employment Disputes
Settlement of Individual Employment Disputes

List Price: HKD 1,687.50

HKD 1,636.88 Save HKD 50.62 (3%)

Developing Human Capital
Developing Human Capital

List Price: HKD 600.00

HKD 582.00 Save HKD 18.00 (3%)

Managing Employment Relations, 7th Edition
Managing Employment Relations, 7th Edition

List Price: HKD 600.00

HKD 582.00 Save HKD 18.00 (3%)

Performance Management
Performance Management

List Price: HKD 312.50

HKD 49.00 Save HKD 263.50 (84%)