[Home ] [Archive]   [ فارسی ]  
:: Main :: About :: Current Issue :: Search :: Submit ::
Main Menu
Home::
Journal Information::
Articles archive::
For Authors::
For Reviewers::
Registration::
Contact us::
Site Facilities::
::
:: Volume 3, Issue 11 (Quarterly Journal of Fiscal and Economic Policies 2016) ::
qjfep 2016, 3(11): 37-62 Back to browse issues page
The Role and Function of Shadow Monetary Policy Committee
Ilnaz Ebrahimi * , Maryam Hematy
monetary and banking institute
Abstract:   (6215 Views)

Shadow Monetary Policy Committee is an independent institute that includes monetary experts. This institute evaluates central bank policies and makes some suggestions about appropriate changes in these policies to achieve monetary policy targets. It has the capacity to create some communication channels between experts and policy makers and also informs them about advantages and weaknesses of monetary and fiscal policies. This committee can also encourage policy makers to better communicate with society and be responsible about the adopted policies. In this paper, we pay attention to the restrictions of the Monetary and Credit Council (MCC) as one of the pillars of central bank. Highlighting the advantages of Shadow Monetary Policy Committee, we emphasis on its role in improvement of policy making. We also survey different dimensions of organizing such a committee like its targets, functions, members’ combination, frequency of meetings and its communication with the media. One of the most important functions of organizing such a committee is the improvement of monetary decisions quality utilizing the scientific and experiential analyses. The greatest challenge of organizing this committee is its fiscal independence from monetary and fiscal authorities. This can be a tough job because many scientific and research centers in Iran finance their activities through public funds

Keywords: Shadow Monetary Policy Committee, Communication Policy, Responsibility, Monetary and Credit Council
Full-Text [PDF 600 kb]   (1940 Downloads)    
Type of Study: Applicable | Subject: Special
Send email to the article author

Add your comments about this article
Your username or Email:

CAPTCHA


XML   Persian Abstract   Print


Download citation:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:

Ebrahimi I, Hematy M. The Role and Function of Shadow Monetary Policy Committee. qjfep 2016; 3 (11) :37-62
URL: http://qjfep.ir/article-1-323-en.html


Rights and permissions
Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Volume 3, Issue 11 (Quarterly Journal of Fiscal and Economic Policies 2016) Back to browse issues page
فصلنامه سیاستهای مالی و اقتصادی Quarterly Journal of Fiscal and Economic Policies
Persian site map - English site map - Created in 0.08 seconds with 37 queries by YEKTAWEB 4645