Z badań nad skutecznością polityki pieniężnej

• Autorzy: Andrzej Wojtyna

Warianty tytułu

New Trends in Research on the Effectiveness of Monetary Policy

• Języki publikacji: PL

Abstrakty

Zaprezentowano 3 ważne kierunki badań jakie w ostatnich latach rzuciły nowe światło na warunki wstępne dla prowadzenia efektywnej polityki pieniężnej: sposób w jaki globalizacja komplikuje prowadzenie polityki pieniężnej, kontrowersje związane z prowadzeniem polityki monetarnej w warunkach złudnych zasobów oraz argumenty za i przeciw instrumentom i regułom nastawionym na cel w polityce pieniężnej.

EN

New phenomena in the global economy are modifying the institutional frameworks within which monetary policy is conducted and are having significant impacts on its effectiveness. These changes are very important in practical terms and at the same time provide a strong incentive for theoretical studies. The purpose of this article is to present three important research trends that in recent years have cast new light on the pre-conditions for an effective monetary policy. In the first part of the article, the author presents the main aspects of the discussion on the manner in which globalisation complicates the conduct of monetary policy. The author stresses the importance of the traditional monetary policy trilemma in an open economy (impossible trinity), the so-called tri lemma modified by political factors (augmented trilemma), and the distinctions between the continuity and the new environment views. In the second part, the author discusses the main controversies surrounding the conduct of monetary policy under asset bubble conditions. The third trend analysed by the author is the arguments for and against the instrument and targeting rules of monetary policy. In the conclusion, the author indicates other trends in the discussion on the effectiveness of monetary policy. (original abstract)

Słowa kluczowe

PL

Makroekonomia; Globalizacja; Polityka pieniężna

EN

Macroeconomics; Globalization; Monetary policy

• Czasopismo: Zeszyty Naukowe / Akademia Ekonomiczna w Krakowie
• Rocznik: 2006
• Numer: nr 744
• Strony: 19--34

Twórcy

autor

Andrzej Wojtyna

Bibliografia

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