Description
Central Bank Policy: Theory and Practice analyses policies and practices adopted by central banks globally, as well as the institutional arrangements underlying the principles of good governance in policymaking.
Discussion focuses on philosophical and conceptual theories that have key implications for central bank policy making and findings are supported by relevant quantitative analyses and case studies reflecting recent issues with respect to centralized financial policy making, including the adoption of the Inflation Targeting Framework in Indonesia.
The book bridges the gap between theory and practice within the central bank policy framework by going beyond the rapidity of theoretical developments to address lesser known and understood policy practices, such as the Flexible Inflation Targeting Framework and macroprudential policy.
With wide ranging scope and in-depth materials presented, alongside the authors' extensive experiences and involvement in the policymaking process at Bank Indonesia, Central Bank Policy is a vital practical tool and reference aid for policymakers, practitioners and academic researchers in the area of financial, banking, and monetary policies.
About the Author
Perry Warjiyo is currently the Governor of Bank Indonesia. He has an established and distinguished career serving Bank Indonesia since 1984. His contributions are primarily in economic and monetary policy research, international issues, organizational transformation and monetary policy strategies, education and research on central banks, and management of foreign reserves and external debts. Solikin M. Juhro is an Executive Director and the Head of Bank Indonesia Institute, Bank Indonesia. In his distinguished career at Bank Indonesia, spanning more than 20 years, he has been extensively involved with monetary economic policy research and analysis, speaking at various national and international conferences, and is an Editor of the Bulletin of Monetary Economics and Banking.
Reviews
'When a pure academic writes a book, it lacks practical knowledge and connections; when a pure policy maker writes a book, it lacks academic rigor; but, when an academic who is also an experienced policy maker writes a book, the resultant is a balanced book. It is this balance that the literature lacks and for this reason alone this book, by two experienced academics who have decades of central banking policy making experience, will remain unique.' -- Professor Paresh Kumar Narayan, Alfred Deakin Professor, Deakin University
'The book rigorously discusses the theories, empirical studies and practices of international financial and monetary policy in emerging market economies, including Indonesia. Furthermore, the book is an invaluable policymaking input for the central bank and government, teaching material for lecturers and students as well as an important reference for scientific development in academia.' -- Professor Boediono, Vice President of the Republic of Indonesia, 2009-2014; Governor of Bank Indonesia, 2008-2009
'This publication is a valuable source for policy makers in central banking. It not only offers knowledge on the theoretical foundations and institutional arrangements but also on the practical aspects of the policy tools that are at the disposal of central banks, particularly in the emerging world.' -- Dr. Zeti Akhtar Aziz, 7th Governor of Bank Negara Malaysia (2000-2016)
'This book is a major contribution to the theory and practice of central banking in emerging market economies. Drawing on the accumulated wisdom of many years of academic study and high-level policy experience, the authors provide an encyclopedic yet highly accessible survey and analysis hat bridges theory and practice. The volume will be invaluable for a wide audience, including advanced undergraduate and graduate students, academic researchers, policy makers, financial market analysts, and anybody with an interest in contemporary macroeconomic challenges and issues. A highly recommended publication.' -- Professor Hal Hill, H.W. Arndt Professor Emeritus of Southeast Asian Economies, Australian National University
Drawing on their experience as leaders in Bank Indonesia and as university instructors, Warjiyo and Juhro explore the theory and practice of central bank policy. After a general review, they cover monetary policy and economy, the monetary policy framework, institutional aspects of central bank policy, and a new paradigm of central bank policy. Among specific topics are central bank evolution and reform, exchange rates and the economy, an inflation-targeting framework: concept and implementation at central banks, central bank independence and accountability, and macroprudential policy and financial system stability. They wrote the textbook for the graduate course in economics they teach. -- Annotation (c)2019 * (protoview.com) *
Book Information
ISBN 9781789737547
Author Dr Perry Warjiyo
Format Paperback
Page Count 592
Imprint Emerald Publishing Limited
Publisher Emerald Publishing Limited
Weight(grams) 740g
Dimensions(mm) 229mm * 152mm * 31mm
Discussion focuses on philosophical and conceptual theories that have key implications for central bank policy making and findings are supported by relevant quantitative analyses and case studies reflecting recent issues with respect to centralized financial policy making, including the adoption of the Inflation Targeting Framework in Indonesia.
The book bridges the gap between theory and practice within the central bank policy framework by going beyond the rapidity of theoretical developments to address lesser known and understood policy practices, such as the Flexible Inflation Targeting Framework and macroprudential policy.
With wide ranging scope and in-depth materials presented, alongside the authors' extensive experiences and involvement in the policymaking process at Bank Indonesia, Central Bank Policy is a vital practical tool and reference aid for policymakers, practitioners and academic researchers in the area of financial, banking, and monetary policies.
About the Author
Perry Warjiyo is currently the Governor of Bank Indonesia. He has an established and distinguished career serving Bank Indonesia since 1984. His contributions are primarily in economic and monetary policy research, international issues, organizational transformation and monetary policy strategies, education and research on central banks, and management of foreign reserves and external debts. Solikin M. Juhro is an Executive Director and the Head of Bank Indonesia Institute, Bank Indonesia. In his distinguished career at Bank Indonesia, spanning more than 20 years, he has been extensively involved with monetary economic policy research and analysis, speaking at various national and international conferences, and is an Editor of the Bulletin of Monetary Economics and Banking.
Reviews
'When a pure academic writes a book, it lacks practical knowledge and connections; when a pure policy maker writes a book, it lacks academic rigor; but, when an academic who is also an experienced policy maker writes a book, the resultant is a balanced book. It is this balance that the literature lacks and for this reason alone this book, by two experienced academics who have decades of central banking policy making experience, will remain unique.' -- Professor Paresh Kumar Narayan, Alfred Deakin Professor, Deakin University
'The book rigorously discusses the theories, empirical studies and practices of international financial and monetary policy in emerging market economies, including Indonesia. Furthermore, the book is an invaluable policymaking input for the central bank and government, teaching material for lecturers and students as well as an important reference for scientific development in academia.' -- Professor Boediono, Vice President of the Republic of Indonesia, 2009-2014; Governor of Bank Indonesia, 2008-2009
'This publication is a valuable source for policy makers in central banking. It not only offers knowledge on the theoretical foundations and institutional arrangements but also on the practical aspects of the policy tools that are at the disposal of central banks, particularly in the emerging world.' -- Dr. Zeti Akhtar Aziz, 7th Governor of Bank Negara Malaysia (2000-2016)
'This book is a major contribution to the theory and practice of central banking in emerging market economies. Drawing on the accumulated wisdom of many years of academic study and high-level policy experience, the authors provide an encyclopedic yet highly accessible survey and analysis hat bridges theory and practice. The volume will be invaluable for a wide audience, including advanced undergraduate and graduate students, academic researchers, policy makers, financial market analysts, and anybody with an interest in contemporary macroeconomic challenges and issues. A highly recommended publication.' -- Professor Hal Hill, H.W. Arndt Professor Emeritus of Southeast Asian Economies, Australian National University
Drawing on their experience as leaders in Bank Indonesia and as university instructors, Warjiyo and Juhro explore the theory and practice of central bank policy. After a general review, they cover monetary policy and economy, the monetary policy framework, institutional aspects of central bank policy, and a new paradigm of central bank policy. Among specific topics are central bank evolution and reform, exchange rates and the economy, an inflation-targeting framework: concept and implementation at central banks, central bank independence and accountability, and macroprudential policy and financial system stability. They wrote the textbook for the graduate course in economics they teach. -- Annotation (c)2019 * (protoview.com) *
Book Information
ISBN 9781789737547
Author Dr Perry Warjiyo
Format Paperback
Page Count 592
Imprint Emerald Publishing Limited
Publisher Emerald Publishing Limited
Weight(grams) 740g
Dimensions(mm) 229mm * 152mm * 31mm
