Chapter 17: Domestic and International Dimensions of Monetary Policy

Web Links

Marginal URLs:

p. 425: Go to http://www.bis.org/cbanks.htm for links to central banks around the globe, provided by the Bank for International Settlements.
p. 431: Go to http://www.federalreserve.gov/newsevents.htm for Federal Reserve news events announcing its latest monetary policy actions.

Issues and Applications, "The Fed Tackles a Credit Crisis"—Web Resources:

For background on how losses on subprime mortgage loans triggered the credit crisis of the late 2000s, go to http://www.npr.org/templates/story/story.php?storyId=9085408.
To read a summary of some of the Fed's key crisis-management policies, go to http://www.newyorkfed.org/newsevents/speeches/2007/gei071213.html.

Issues and Applications, "The Rise and Fall of the Income Velocity of Money"—Web Resources, Update Edition:

To read a short discussion of how the income velocity of money typically behaves during periods of high inflation versus depression periods, go to http://www.econmacro.com/foundations/markets/money/eq_of_exchange.htm.
For a summary of different views on the equation of exchange, go to http://e-articles.info/e/a/title/What-is-the-Velocity-of-Money/.

Economics on the Net:

The Fed's Policy Report to Congress

Congress requires the Fed to make periodic reports on its recent activities. In this application, you will study recent reports to learn about what factors affect Fed decisions.

Title: Monetary Policy Report to the Congress

Navigation: Go to http://www.federalreserve.gov/boarddocs/hh/ to view the Federal Reserve's Monetary Policy Report to the Congress (formerly called the Humphrey-Hawkins Report).

Application: Read the report; then answer the following questions.

According to the report, what economic events were most important in shaping recent monetary policy?
Based on the report, what are the Fed's current monetary policy goals?

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