PL EN


Preferencje help
Widoczny [Schowaj] Abstrakt
Liczba wyników
2009 | nr 118 | 62-82
Tytuł artykułu

Czy współczesne banki centralne powinny troszczyć się o bezrobocie?

Warianty tytułu
Should Contemporary Central Banks Care about Unemployment
Języki publikacji
PL
Abstrakty
W kontekście ponownego wzrostu presji inflacyjnej w wielu krajach i zdecydowanie przedwcześnie ogłoszonej "śmierci" inflacji, nasuwa się pytanie, czy w zarysowanym podejściu do prowadzenia polityki pieniężnej jest miejsce dla ewentualnego (skutecznego) wpływu banku centralnego na bezrobocie. Celem opracowania jest syntetyczne przedstawienie pod tym kątem wybranych elementów konsensusu. W punkcie pierwszym zarysowano genezę wspólnego podejścia do celów i sposobów realizacji polityki pienężnej. Punkt drugi poświęcono zagadnieniu stabilności poziomu cen jako celu tej polityki. W punkcie trzecim scharakteryzowano możliwości odziaływania przez bank centralny na zmienne realne w sytuacji realizacji strategii bezpośredniego celu inflacyjnego. Punkt czwarty przybliża problemy, jakie mogłyby się wiązać z zapewnieniem odpowiedniej wiarygodności w przypadku podejmowania przez bank centralny prób wpływania na poziom produkcji i bezrobocia. (fragment tekstu)
EN
A broad consensus has recently emerged about goals and the way of conducting monetary policy. It is closely connected with the so-called New Neoclassical Synthesis. According to the consensus, the main goal of monetary policy should be price stability, while it is pointless, or even impossible, to try to boost economic growth and unemployment by means of this policy. Nevertheless, individual parts of the consensus leave some room for influencing also the real side of the economy. Such activity should, however, be aimed at elimination of potential inflationary pressure in the future, arising from volatility of output and real shocks. It should not be treated as a goal of the central bank. The best contribution of monetary policy to production and unemployment is achieving and maintaining price stability. (original abstract)
Rocznik
Numer
Strony
62-82
Opis fizyczny
Twórcy
  • Uniwersytet Ekonomiczny w Poznaniu
Bibliografia
  • Bank.of England (2004), Low Inflation and Business, London.
  • Barro R. (1995), Inflation and Economic Growth, „NBER Working Paper" 5326.
  • Bean R. (2007), Globalization and Inflation, „World Economics", No. 1.
  • Begg D., Canova F., De Grauwe P., Fatas A., Lane P. (2002), Surviving the Slowdown, Centre for Economic Policy Research Monitoring the Europe Central Banks 4, London.
  • Bernanke B. (2004). The Great Moderation, remarks made at the meeting of the Eastern Economic Association, Washington DC.
  • Bernanke B., Laubach T., Mishkin F.S., Posen A. (1999), Inflation Targeting. Lessons from International Experience, Princeton University Press, Princeton.
  • Bernanke B.S., Mishkin F.S. (1997), Inflation Targeting: A New Framework for Monetary Policy? „Journal of Economic Perspectives" No. 2.
  • Bibow J. (2005), Refocusing the ECB on Output Stabilization and growth through Inflation Targeting?, „The Levy Economics Institute Working Paper" No. 409.
  • Blackburn K., Christensen M. (1989), Monetary Policy and Policy Credibility: Theories and Evidence, „Journal of Economic Literature", Vol. XXVII.
  • Blinder A. (1999), Central Bank Credibility: Why do We Care? How do We Build It?, „NBER Working Paper" No. 7101.
  • Blinder A. (2006), Monetary Policy Today: Sixteen Questions and about Twelve Answers, paper prepared for the Banco de Espana Conference on „Central Banks in the 21SI Century," Madrid, June 8-9.
  • Bofmger P. (2001), Monetary Policy. Goals, Institutions, Strategies and Instruments, Oxford University Press, Oksford.
  • Buiter W. (2003), Deflation: Prevention and Cure, „NBER Working Papers" No. 9623.
  • Buiter W.H. (2006), Rethinking Inflation Targeting and Central Bank Independence, lecture given on Thursday 26th, at the London School of Economics and Political Science.
  • Cargill T.F., (2001). Monetary Policy, Deflation, and Economic History: Lessons for the Bank of Japan, „Monetary and Economic Studies'', Special Edition, February.
  • Corbo V., Landerechte O., Schmidt-Hebbel K. (2002), Does Inflation Targeting Make a Difference?, w: Inflation Targeting: Design, Performance, Challenges. N. Loayza, R. Soto (eds.),Central bank of Chile, Santiago.
  • Cukierman A. (2006), Central Bank Independence and Monetary Policymaking Institutions: Past, Present and Future, „Central Bank of Chile Working Papers" No. 360.
  • De Long B. (1996), America 'a Only Peacetime Inflation: the 1970s, w: Monetary Policy and Low Inflation, D. Romer, C. Romer (eds.), NBER.
  • De Vries M.G. (1980). Economic Shocks of 1970. Viewed as Signs of Profound Changes in the World Relationships, „IMF Survey" 7.01.
  • Epstein G. (2007), Central Banks as an Agents of Unemployment, „DESA Working Paper" No. 38.
  • Feldstein M. (2000), The European Central Bank and the euro: the First Year, „NBER Working Paper" No. 7517.
  • Ferguson R. (2001), Transparency in Central Banking: Rationale and Recent Developments, ,,B1S Review"No. 31.
  • Fischer S. (1983), The Role of Macroeconomic Factors in Growth, „NBER Working Paper No. 4565.
  • Fischer S. (1996), Why Are Central Banks Pursuing Long-Run Price Stability, w: Achieving Price stability, A Symposium Sponsored by the Federal Reserve Bank of Kansas, Jackson Hole.
  • Fleming J.M. (1976), Historic Trends Against Restraints on Trade and Payment Analyzed, „IMF Survey" 3.05.
  • Friedman B.M. (2000), Monetary Policy, „NBER Working Paper" No. 8057.
  • Friedman B.M. (2002), The Use and Meaning of Words in Central Banking: Inflation Targeting, Credibility and Transparency, „NBER Working Paper" No. 8972.
  • Gali J. (2002), New Perspectives on Monetary Policy, Inflation and the Business Cycle, „NBER Working Paper" No. 8767.
  • Gaspar V., Smets F. (2002). Monetary Policy, Price Stability and Output Gap Stabilisation, prepared for the conference Government and the Economy: the Pros and Cons of Countercyclical MacroPolicy, New York.
  • Genberg H. (2002), Inflation Targeting - the Holy Grail of Monetary Policy, „HEI Working Paper" No. 11.
  • Gjedrem S. (2002), Monetary Policy - the Importance and Credibility and Confidence, „BIS Review" No. 7.
  • Goodfriend M., King R. (1997), The New Neoclassical Synthesis and the Role of Monetary Policy, „Federal Reserve Bank of Richmond Working Paper" No. 98-5.
  • Goodfriend M. (2007), How the World Achieved Consensus on Monetary Policy, „NBER Working Paper" No. 13580.
  • Houben A.C.F.J. (2000), The Evolution of Monetary Policy Strategies in Europe, Kluwer, Boston.
  • IMF (2006), Monetary and Fiscal Policy Design Issues in Low Income Countries, Washington DC.
  • Issing O. (2000), Why Price Stability?, w: First ECB Central Banking Conference: Why Price Stability?, European Central Bank, Frankfurt, November.
  • Issing O. (2003), Monetary Policy in a Changing Economic Environment, w: Rethinking Stabilziation Policy, A Symposium Sponsored by the Federal Reserve Bank of Kansas.
  • Johnson K., Small D., Tryon R. (1999), Monetary Policy and Price Stability (Unpublished), Board of Governors of the Federal Reserve System, „International Finance Discussion Paper" No. 641.
  • King M. (1999), Challenges for Monetary Policy: New and Old, w: Federal Reserve Bank of Kansas City, New Challenges for Monetary Policy, Jackson Hole.
  • King M. (2006), Monetary Policy: Practice Ahead of Theory, w: K. Matthews, P. Booth (eds.), Issues in Moneta y Policy, John Wiley&Sons Ltd.
  • Knakiewicz Z. (1981), Teorie pieniądza niezależnego i ich zastosowanie, Wydawnictwo AE, Poznań.
  • Kokoszczyński R. (2004), Współczesna polityka pieniężna w Polsce, PWE, Warszawa.
  • Krugman P. (1998), It's Baaack! Japan 's Slump and the Return ofthe Liąuidity Trap, „Brooking Papers on Economic Activity" No. 2.
  • Mankiw, N.G. (1990), A Quick Refresher Course in Macroeconomics, „Journal of Economic Literaturę" No. 4.
  • Mankiw N.G. (2001), The Inexorable and Mysterious Trade of between Inflation and Unemployment, „Economic Journal", May.
  • McCallum B.T. (2000), The Present and Future of Monetary Policy Rules, typescript.
  • Mishkin F.S. (2000), Inflation Targeting for Emerging-Market Countries, „American Economic Review" No. 90(2).
  • Mishkin F. S. (2002a), Overview of the Symposium Rethinking Stabilization Policy, Jackson Hole, Wyoming, August 29-31.
  • Mishkin F.S. (2002b), Inflation Targeting, w: B. Snowdon, H. R. Vane, An Encyclopedia of Macroeconomics, Edward Elgar, Cheltenham.
  • Mishkin F. S. (2006), Monetary Policy Strategy: How Did We Get Here? „NBER Working Paper" No. 12515.
  • Mishkin F.S., Schmidt-Hebbel K. (2007), Monetary Policy under Inflation Targeting: An Introduction, w: Monetary Policy under Inflation Targeting, F. Mishkin, K. Schmidt-Hebbel (eds.),Central Bank of Chile, Santiago.
  • OECD (1980), Main Economic Indicators, Historical Statistics 1960-1970, Paryż.
  • Orphanides A. (2003), The Quest of Prosperity without Inflation, „Journal of Monetary Economics" No. 50(3).
  • Perrier P., Amano R. (2000), Credibility and Monetary Policy, „Bank of Canada Review", Spring.
  • Rogoff K. (2006), Impact of Globalization on Monetary Policy, paper prepared for symposium sponsored by the Federal Reserve Bank of Kansas City The New Economic Geography: Effects and Policy Implications, Jackson Hole, August 24-26.
  • Romer C., Romer D. (2003), The Evolution of Economic Understanding and Postwar Stabilization Policy, w: Rethinking Stabilization Policy, A Symposium Sponsored by the Federal Reserve Bank of Kansas, Jackson Hole, Wyoming, August 29-31.
  • Rossi S. (2005), The Monetary Policy Strategy of the European Central Bank: Would Inflation Targeting Be Enough for a Successful Stabilisation Policy, paper for the ninth Berlin Work-shop European Macroeconomics and Macroeconomic Policies, Berlin.
  • Stock J.H., Watson M.W. (2003), Has the Business Cycle Changed and Why?, w: NBER Macroeconomic Annuals 2002, M. Gertler, K. Rogoff (eds.), Cambridge.
  • Svensson L.E.O. (1997), Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets, „European Economic Review" 1997, vol. 41.
  • Svensson L.E.O. (2003), Monetary Policy and Real Stabilization, „NBER Working Paper" No. 9846.
  • Taylor J.B. (1996), How Should Monetary Policy Respond to Shocks While Maintaining Long-Run Price Stability? - Conceptual Issues, w: Achieving Price Stability, A Symposium Sponsored by the Federal Reserve Bank of Kansas.
  • Taylor J.B. (1998), Monetary Policy and the Long Boom, „Federal Reserve Bank of St. Louis Review", November/December.
  • Taylor J.B. (2000), Using Monetary Policy in Emerging Market Economies, revised version of a paper presented at the 75th Anniversary Conference, „Stabilization and Monetary Policy: The International Experience", November 14-15, 2000, at the Bank of Mexico.
  • Taylor J.B. (2001), Wytyczne dla polityki monetarnej w celu ustabilizowania poziomu zatrudnienia i produkcji, w: Inflacja bezrobocie a polityka monetarna, B. Friedman (red.), CeDeWu, Warszawa.
  • Vifials J. (2000), Monetary Policy Issues on a Low Inflation Environment, in: First ECB Central Banking Conference: Why Price Stability? European Central Bank, Frankfurt.
  • Wojtyna A. (2000), Kontrowersje wokół skuteczności polityki pieniężnej, „Bank i Kredyt" nr 7-8.
  • Wojtyna A. (2004), Szkice o polityce pieniężnej, PWE, Warszawa.
  • Woodford M. (1999), Revolution and Evolution in Twentieth-Century Macroeconomics, prepared for the Conference: Frontiers of the Mind in the Twenty-First Century, Library of Congress Washington, June.
  • Woodford M. (2000), Interest and Prices, Princeton University Press, Princeton.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171194519
JavaScript jest wyłączony w Twojej przeglądarce internetowej. Włącz go, a następnie odśwież stronę, aby móc w pełni z niej korzystać.