Search for tag: "monetary policy"

Pillar III - Risk-Sharing and Entrepreneurship (Distribution)

The third pillar, risk-sharing and entrepreneurship, is about the distribution channel, affecting both individuals and organizations. Islamic economics promotes an exchange-based financial system on…

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Shariah Audit

Shariah Audit is a systematic and independent examination or verification of the products, operations, activities, procedures, internal controls and records relating to the Islamic financial…

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Mitigating Risk and Vulnerabilities

Low-income people are vulnerable to risks as poverty and vulnerability reinforce each other whereby risk events can move households into poverty traps. Since negative shocks contribute to the…

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Challenges of the Islamic Finance Industry

One of the main challenges faced by the Islamic finance industry is the harmonization of legal and regulatory frameworks and monetary policies. Islamic financing is also flourishing under different…

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Recent Trends in the Islamic Finance Industry

The Islamic finance sector have experienced substantial growth in recent years. Today, more than 500 Islamic banking and finance institutions are operating worldwide, which are claimed to manage…

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Conversation with Casey Michel, American Kleptocracy

Jeffrey Sachs speaks with journalist Casey Michel, author of American Kleptocracy: How the U.S. Created the World's Greatest Money Laundering Scheme in History. Jeffrey Sachs and Casey…

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Measuring multidimensional poverty

What is The Multidimensional Poverty Measure? It is an index that captures the percentage of households in a country deprived along three dimensions of well-being – monetary poverty, education,…

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Aggregate Demand with Fixed Exchange Rate

This chapter begins by explaining the impact of aggregate demand in an open economy, via fixed and flexible exchange rates. In a fixed or pegged exchange rate, the central bank doesn’t allow…

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How to Prevent Bank Runs

This chapter focuses on how bank panics can and should be prevented. There are four methods proposed for preventing (or decreasing) bank panics should be prevented: capital adequacy, reserve…

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Bank Runs and Panics, Part II

Even with the reforms that were introduced in the Great Depression and afterward, bank panics can happen again. This chapter provides a comprehensive overview of the 2008 financial crisis, which…

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Monetary Policy Under Fixed and Floating Exchange Rates

This chapter discusses monetary policy, and focuses on the difference between fixed and floating exchange rates. It begins by explaining the role that a central bank plays in maintaining its exchange…

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Money Demand

This chapter focuses on why people demand money. Individuals and firms demand money to make transactions. The inventory approach to money demand, from Baumol and Tobin, says that families can…

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The Central Bank and New Approaches to Monetary Policy

This video focuses on central bank and monetary policy, and specifically how central banking has evolved in recent years. Most banks aim to control interest rates rather than a monetary aggregate.…

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"Money vs. Barter" History and Concepts

This module covers money and central banking, and looks at how a barter economy differs from a monetary economy. The financial crisis of 2008 is explained in order to examine the use of an array of…

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Money Supply and the Role of the Central Bank

This chapter discusses the money supply process by the central bank. In most countries, the short-term interest rate is used as the instrument of monetary policy. There are three operations of a…

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The Role of Innovation to Reduce Emissions

This chapter profiles a number of initiatives focused on innovation for energy and they connect to investment and policy. One is Mission Innovation, which includes 20 countries committed to investing…

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