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Author: John Singleton Publisher: Auckland University Press ISBN: 1775580946 Category : History Languages : en Pages : 718
Book Description
This study of the Reserve Bank of New Zealand reveals why the Bank's presence in the national life is strong; illustrates how it is internationally renowned for its mandate to eliminate inflation, having been the first reserve or central bank in the world to adopt the "inflation targeting" approach to monetary policy; and looks at how the Bank maintains the integrity of the currency, preserves the stability of the financial system, and undertakes a range of activities on behalf of the people of New Zealand.
Author: John Singleton Publisher: Auckland University Press ISBN: 1775580946 Category : History Languages : en Pages : 718
Book Description
This study of the Reserve Bank of New Zealand reveals why the Bank's presence in the national life is strong; illustrates how it is internationally renowned for its mandate to eliminate inflation, having been the first reserve or central bank in the world to adopt the "inflation targeting" approach to monetary policy; and looks at how the Bank maintains the integrity of the currency, preserves the stability of the financial system, and undertakes a range of activities on behalf of the people of New Zealand.
Author: Bernd Hayo Publisher: ISBN: Category : Languages : en Pages : 25
Book Description
Employing unique representative survey data from New Zealand collected in 2016, we study public knowledge about and attitude towards a specific monetary policy institution, the Policy Target Agreement (PTA). The PTA contains the inflation target for the Reserve Bank of New Zealand (RBNZ). First, we assess how much the population knows about the PTA, finding the level of knowledge to below. Second, we ask whether our respondents support a clause in the PTA that allows the government to over-ride the RBNZ if it deems it necessary. We interpret responses to that question as attitudes towards central bank independence (CBI). The population does not appear to have a clear view on whether or not to expand CBI, as roughly one third supports the overriding clause in the PTA, one third is against it, and one third is unsure. Using logit regression, we study which characteristics make people favour more CBI. Subjective and objective knowledge about the RBNZ and monetary policy increases support for CBI, whereas voting for a national-oriented party and trusting the government reduces it. Policy implications are derived from our findings.
Author: William T. Bernhard Publisher: University of Michigan Press ISBN: 0472023136 Category : Political Science Languages : en Pages : 252
Book Description
Banking on Reform examines the political determinants of recent reforms to monetary policy institutions in the industrial democracies. With these reforms, political parties have sought to draw on the political credibility of an independent central bank to cope with electoral consequences of economic internalization and deindustrialization. New Zealand and Italy made the initial efforts to grant their central banks independence. More recently, France, Spain, Britain, and Sweden have reformed their central banks' independence. Additionally, members of the European Union have implemented a single currency, with an independent European central bank to administer monetary policy. Banking on Reform stresses the politics surrounding the choice of these institutions, specifically the motivations of political parties. Where intraparty conflicts have threatened the party's ability to hold office, politicians have adopted an independent central bank. Where political parties have been secluded from the political consequences of economic change, reform has been thwarted or delayed. The drive toward a single currency also reflects these political concerns. By delegating monetary policy to the European level, politicians in the member states removed a potentially divisive issue from the domestic political agenda, allowing parties to rebuild their support constructed on the basis of other issues. William T. Bernhard provides a variety of evidence to support his argument, such as in-depth case accounts of recent central bank reforms in Italy and Britain, the role of the German Bundesbank in the policy process, and the adoption of the single currency in Europe. Additionally, he utilizes quantitative and statistical tests to enhance his argument. This book will appeal to political scientists, economists, and other social scientists interested in the political and institutional consequences of economic globalization. William T. Bernhard is Assistant Professor of Political Science, University of Illinois, Urbana-Champaign.
Author: John Singleton Publisher: Auckland University Press ISBN: 1869407016 Category : Business & Economics Languages : en Pages : 718
Book Description
In the 33 years since the last history of the New Zealand Reserve Bank the world has changed. New Zealanders now closely follow the Reserve Bank Governor's statements and the Bank's presence in the national life is strong. The Bank is internationally renowned for its strong mandate to eliminate inflation, having been the first reserve or central bank in the world to adopt the 'inflation targeting' approach to monetary policy. The Bank also maintains the integrity of the currency; preserves the stability of the financial system and undertakes a range of activities on behalf of the people of New Zealand. Innovation and Independence tells the fascinating story of how this small central bank took the opportunities created by the political changes of the 1980s to design a unique institutional policy framework, rather than merely adapt an off-the-shelf overseas package. The Reserve Bank's operational independence, once revolutionary, is now widely accepted internationally. Eight chapters cover the Bank's early history and the deepening crises of the 1970s and early 1980s - oil shocks, the reverse in trade terms and the 'Muldoon years'; the intellectual developments in the Bank leading up to the crucial change of government in 1984; the aftermath of the post-1984 policy revolution and the ground-breaking Reserve Bank Act 1989; inflation targeting; the removal of controls and the development of new forms of registration; and the Bank's internal cost cutting policies and withdrawal from non-core activities. There will be strong interest in this prestige, hardback, fully illustrated publication from historians, political and economic commentators, lecturers, students, public servants, public policy analysts, research institutes and, because of the Bank's role in designing and issuing back notes and coins, from numismatists. Innovation and Independence is published in association with the Ministry for Culture and heritage.
Author: Jan Kleineman Publisher: BRILL ISBN: 9004481303 Category : Law Languages : en Pages : 238
Book Description
In December 1999, prior to the forming of a Stockholm Centre for Commercial Law, an international symposium entitled Central Bank Independence was held at the Department of Law at Stockholm University in co-operation with the Swedish Central Bank (The Riksbank) and Queen Mary and Westfield College, London University. The participants were principally political, economic and legal specialists in the field, all with considerable international experience. This led to the topic being examined in detail from many different perspectives. This publication includes contributions by the participants and contains many important facts for those readers who wish to study and understand the different consequences of the yielding of control over financial policymaking by the traditional political organisations to a body of experts. For readers in some countries, who realise that the subject will revolutionise traditional Constitutional and Administrative Law, the topic and therefore this publication, cannot be ignored.
Author: John Singleton
Author: John Singleton
Author: Bernd Hayo
Author: Geoffrey Edward Wood (Wirtschaftswissenschaftler)
Author: William T. Bernhard
Author: Ralph C. Bryant
Author: Geoffrey Edward Wood (Wirtschaftswissenschaftler)
Author: Geoffrey Edward Wood
Author: John Singleton
Author: Jan Kleineman
Author: Christopher Adolph