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Full Description
This study is among the first to examine the theory and practice of monetary policy in South Korea. Woosik Moon provides a detailed analysis of the central bank of South Korea, one of the most successful and important economies in Asia. He covers everything from monetary policy to inflation targeting and macroprudential regulation, explaining how these policy tools were used to deal with the aftermath of the 2007-2011 financial crisis. He then brings his study into our current moment, speculating as to how the use of these policies will change in order to deal with the fallout of the Covid-19 pandemic. This book offers in-depth investigations and the provision of the most up-to-date information about the Bank of Korea's monetary and financial actions, serving as essential reading for central bankers and professionals of financial markets around the world, as well as anyone interested in monetary policy-making.
Contents
Preface; Part 1. What is the Goal of Korean Monetary Policy: 1. The goals of economic and monetary policy; Part II. How does Money Affect the Korean Economy: 2. Money and the evolution of monetary standards; 3. The transmission channels of monetary policy; Part III. How is Monetary Conducted in Korea?: 4. The organisation and functions of the Bank of Korea; 5. The monetary policy strategies of the Bank of Korea; 6. Inflation targeting in Korea; 7. The tools and instruments of monetary policy; 8. Monetary policy without money; 9. Foreign exchange market intervention and monetary policy; Part IV. How is Financial Stability Pursued in Korea?: 10. The financial crisis and its impact on Korean economy; 11. Macro-prudential policy; 12. Crisis management and lender of last resort; Part V. What Will Be the Challenge for Future Monetary Policy in Korea: 13. Monetary policy under low growth and low inflation.
