Challenges to Central Banking from Globalized Financial SystemsInternational Monetary Fund, 2004 M03 2 - 307 pages Increasing global financial market integration is presenting new challenges to central banks as they seek to attain low inflation and financial stability. This volume is based on a conference hosted by the IMF in September 2002. It examines key issues such as the choice of nominal anchor for countries susceptible to shifts in capital flows, what can be done to prevent and deal decisively with financial crises, and how central bankers should think about the difficult choices when monetary objectives and financial stability objectives come into conflict. |
Contents
III | ix |
IV | xi |
VI | 9 |
VII | 11 |
IX | 34 |
X | 45 |
XI | 88 |
XII | 100 |
XX | 147 |
XXI | 187 |
XXII | 199 |
XXIII | 204 |
XXIV | 220 |
XXV | 229 |
XXVII | 259 |
XXXI | 268 |
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Common terms and phrases
assess asset prices asset quality bank's banking sector banking system borrowing capital Chile cial credibility crisis Danish debt management deposit insurance disinflation domestic currency economic effect emerging market countries exchange rate regime exposure Federal Reserve financial dollarization financial instability financial institutions financial markets financial sector financial system fiscal fixed exchange rate foreign currency deposits foreign currency lending foreign exchange market FSIS full-fledged inflation targeting government debt growth IMF Working Paper impact increase indicators inflation forecasts inflation targeting inflation-targeting framework instruments interbank interbank rate interest rate International Monetary Fund intervention ITL countries liabilities liquidity long-term macroeconomic market liquidity ments models monetary policy monetary union monitor moral hazard Open market operations output payment percent Peru Poland position potential price stability private sector ratio relative role shocks short-term Source stress tests structural surveillance Table tion transparency U.S. dollars variables volatility vulnerability