The Output-inflation Tradeoff and Central Bank Reform: Evidence From New Zealand

1998 ◽  
Vol 108 (448) ◽  
pp. 703-725 ◽  
Author(s):  
M. M. Hutchison ◽  
C. E. Walsh
Keyword(s):  
New Zealand ◽  
Central Bank ◽  
Bank Reform

scholarly journals THE EFFECT OF SBI RATE THROUGH FINANCIAL SYSTEM TO ECONOMIC GROWTH OF INDONESIA

2007 ◽  
Vol 8 (4) ◽  
Author(s):  
Donni Fajar Anugrah
Keyword(s):  
Economic Growth ◽  
New Zealand ◽  
Central Bank ◽  
Inflation Targeting ◽  
Financial System

Bank Indonesia menerapkan Inflation Targeting Framework (ITF) sejak tahun 2000 dengan menggunakan base money sebagai alat kebijakan moneternya. Hasil penerapan framework ini kurang optimal jika melihat inflasi aktual yang tidak selalu berada dalam kisaran target yang telah diumumkan. Di sisi lain, beberapa negara yang juga menerapkan ITF, seperti New Zealand, telah berhasil mencapai tingkat inflasi yang rendah sesuai dengan target yang diumumkan. Mereka menggunakan suku bunga sebagai alat kebijakan moneter dalam penerapan ITF. Oleh karena itu, Bank Indonesia memutuskan untuk menggunakan suku bunga SBI sebagi alat kebijakan untuk mencapai inflasi yang rendah.Permasalahan yang perlu mendapat perhatian yaitu seberapa besar efek dari kebijakan ini terhadap pertumbuhan ekonomi secara bertahap. Dalam penerapannya, suku bunga SBI akan mempengaruhi sistem keuangan melalui suku bunga pasar, seperti suku bunga PUAB dan kredit. Secara teoritis kedua suku bunga pasar terseut dapat mempengaruhi konsumsi dan investasi. Penelitian ini akan lebih difokuskan pada efek suku bunga pada konsumsi dan investasi yang pada akhirnya berdampak pada tingkat pertumbuhan ekonomi.Dengan menggunakan pendekatan Joahnsen, akan dapat dijelaskakn hubungan jangka panjang antar variabel dan menghasilakn ECM yang digunakan dalam model jangka pendeknya. Hasil penelitian menunjukkan bahwa suku bunga dan konsumsi memiliki hubungan negatif hanya di jangka pendek. Sedangkan suku bunga dengan investasi berhbungan negatif dalam jangka panjang. Hasil akhir menunjukkan peningkatan  suku bunga akan berakibat pada penurunan pertumbuhan ekonomi.Keywords: central bank, sbi rate, consumption, investmentm economic growth, inflation targetingJEL: E21, E52, E58, F43

scholarly journals Latin American Central Bank Reform: Progress and Challenges

2005 ◽  
Vol 05 (114) ◽  
pp. 1 ◽  
Author(s):  
International Monetary Fund
Keyword(s):  
Central Bank ◽  
Latin American ◽  
Bank Reform

Swiss sovereign money vote points up bank reform

2018 ◽  
Keyword(s):  
Central Bank ◽  
Commercial Banks ◽  
Financial Stability ◽  
Banking System ◽  
Budget Deficits ◽  
Banking Reform ◽  
Content Type ◽  
Economic Agents ◽  
Monetary Systems ◽  
Bank Reform

Significance The Vollgeld (sovereign money) proposal, which claimed to make the banking system safer by preventing commercial banks creating money through requiring thems to keep 100% of their deposits at the central bank, was complex and economically flawed, However, it attracted anti-system and anti-bank votes and has generated debate in Switzerland and abroad on financial stability and monetary systems. Impacts The Vollgeld idea has never been implemented anywhere, posing uncertainty about economic agents' reactions and the overall impact. The reform, if used to finance budget deficits, would challenge the central bank's independence. Even if the proposal is refined, the power that 'Vollgeld' would give the central bank to determine lending will remain unpopular. Pressure for banking reform and awareness of regulation have risen worldwide since the 2008-09 crisis making other initiatives likely.

Epilogue

2017 ◽  
Author(s):  
Pierre L. Siklos
Keyword(s):  
Monetary Policy ◽  
New Zealand ◽  
Central Bank ◽  
Interest Rates ◽  
Central Banks ◽  
Best Interests ◽  
Small Open Economies ◽  
The Third ◽  
The United Kingdom ◽  
The Eu

The manuscript for this book was largely written during 2015 and 2016. It was completed approximately two months before the last U.S. elections, but shortly after the referendum in the United Kingdom to exit the EU ended with a decision in favor of Brexit. As this is written, early in 2017, monetary policy conditions have changed little, with the Fed the only major central bank that has raised interest rates and only the third time since the end of 2008. Many other central banks, especially in small open economies (e.g., Canada, New Zealand, Australia), are either leaving monetary policy conditions unchanged or show a bias toward further easing if this in their best interests. At the more systemically important central banks, the talk has also shifted away from the necessity of additional loosening and in the direction of standing pat, with the hope that the future will perhaps bring about a long-awaited, but very gradual, raising of policy rates....

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