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Inflation Targeting and Financial Stability

Monetary Policy Challenges for the Future

  • Michael Heise

Table of contents

  1. Front Matter
    Pages i-xiv
  2. Michael Heise
    Pages 1-4
  3. Michael Heise
    Pages 51-73
  4. Michael Heise
    Pages 91-94
  5. Back Matter
    Pages 95-111

About this book

Introduction

Since the financial crisis of 2008/09, the world’s major central banks have been struggling to return their economies to higher growth and to reach their inflation targets.
This concise book analyzes the importance of central bank policies for the economy, and specifically investigates the reasons why they have failed to steer inflation as desired. The author, the Chief Economist at Allianz SE, argues that, in an environment of great uncertainty concerning the pass-through of monetary stimulus to the economy, central banks should not focus too narrowly on inflation targets, but should increasingly take the side effects of their actions into account. In particular, he contends that they must seek to minimize the risk of financial booms and busts in order to maximize long-term growth and prosperity.
Building on existing research and contributing to the current debate, the book offers a valuable reference guide and food for thought for policymakers, professionals and students alike.

Keywords

Monetary Poliy Interest Rates/Term Premia Transmission Channels of Monetary Policy Inflation Targeting Financial Cycle Financial Stability

Authors and affiliations

  • Michael Heise
    • 1
  1. 1.Allianz SEMünchenGermany

Bibliographic information