Suchergebnisse

A huddle of central bankers -- The widening domain -- How it all began -- Making a name for themselves -- Reign of the rulebook -- Currency boards and their legacy -- Changing fortunes in the 1980s -- The business of central banking -- Monetary policy in practice -- The nightmare of supervision -- How central banks manage reserves -- The safety net -- The dilemma of exchange rates -- The muscle of the federal reserve -- Europe's foursome -- The bank of Japan--a rising star -- Anchors for smaller countries -- Their very own BIS -- The new central banks of the former Soviet Union -- Of markets and men -- Survival of the fittest -- Europe points the way -- A new mandate

The book analyses the establishment of De Nederlandsche Bank and its early development as a case study to test competing theories on the historical development of central banking. It is shown that the establishment of DNB can be explained by both the fiscal theory and the financial stability theory. Later development makes clear that the financial stability role of DNB prevailed. DNBþs bank notes were not forced onto the public and competition was fierce. A prudent and independent stance was necessary to be able to play its intended role. This meant that DNB played a modest role in the Amsterdam money market until 1852. By 1852 it had established itself to become the central bank. By then its bank notes had become generally accepted and it could start to operate as a reserve bank. Also the market context had changed dramatically, its competitors had been driven out of the market and several credit institutions had become customers of DNB. "On the occasion of the Nederlandsche Bank's 200th Anniversary, it is good to have a new, and an extremely good, history of its founding and first fifty years of operation. The only previous account of this period of the DNB's history was legalistic and did not sufficiently place the Bankþs development in its wider context. Uittenbogaard's book provides a much broader, and better, story of the personnel, economics, and finance of the DNB at this juncture."--Charles Goodhart, LSE.

The Encyclopedia of Central Banking provides definitive and comprehensive encylopedic coverage on central banking and monetary theory and policy. Containing close to 250 entries from specially commissioned experts in their fields, elements of past and current monetary policies are described and a critical assessment of central bank practices is presented. Since the global financial crisis of 2008-09, all major central banks have intervened to avert the collapse of the global economy, bringing monetary policy to the forefront. Rochon and Rossi give an up to date, critical understanding of central banking, at both theoretical and policy-oriented levels. This Encyclopedia explains the complexity of monetary-policy interventions, their conceptual and institutional frameworks, and their own limits and drawbacks. The reader is provided with the body of knowledge necessary to understand central banks' decisions in the aftermath of the global financial crisis and controversial explanations of the crisis are illuminated from a historical perspective. Academics and students of economics will find this an indispensible reference tool, offering current and necessary insight into central banking and monetary policy. Practitioners in the financial sector will also benefit from this refreshed insight into such a fundamental topic

Celebrating the contribution that Charles Goodhart has made to monetary economics and policy, this unique compendium of original papers draws together a highly respected group of international academics, central bankers and financial market regulators covering a broad range of issues in modern monetary economics. Topics discussed include: central bank independence; credibility and transparency; the inflation forecast and the loss function; monetary policy experiences in the US and the UK; the implications of Goodhart's Law; the benefits of single versus multiple currencies; and money, near monies and credit

"The Research Handbook on Central Banking focuses on global central banks as institutions and not abstractions, providing historical and practical detail about how central banks work and the challenges they face. This Research Handbook offers the most interdisciplinary treatment of global central banks published to date by addressing key questions regarding where they come from, how they have changed, and the challenges they face during uncertain times. Divided into two parts, the Research Handbook firstly takes readers on a global tour, covering central banks in the US, Latin America, Europe, Eastern Europe, Japan, China, Africa, and more. In the second part, authors delve into themes of broad application, including transparency, independence, unconventional monetary policy, payment systems, and crisis response. The interdisciplinary mix of contributors include some of the most prominent names in central banking as well as a new generation of scholars who are shaping the conversation about central banks and their role in global politics, economics, and society at large. Interdisciplinary and innovative, this Research Handbook will prove essential reading for scholars focusing on central banks, financial regulation, global governance, and related areas, as well as for central bankers and employees at central banks."--

Money and central banks -- How monetary policy works : the mainstream model -- Three questions on the mainstream model -- The zero lower bound problem -- Financial stability and the lender of last resort function of central banks -- Will paper currency disappear and will this be a problem? -- Will we ever have a global central bank? -- Will central banks disappear?

"This book offers a comprehensive analysis of central banks, and aims todemystify them forthe general public, which is the only way to have a rational debate about them and ultimately to make them truly accountable. The book originates from the authors graduate lectures on Central Banking at the University of Frankfurt J.W. Goethe. It contains an overview of all the key questions surrounding central banks and their role in the economy. It leads the reader from the more established concepts (including monetary theory and historical experience), necessary to have a good grasp of modern central banking, to the more open and problematic questions, which are being debated within academic and financial market circles. This structure enables readers without specific knowledge of central banks or monetary economics to understand the current challenges. The bookhas three defining characteristics, which set it apart from competing titles: first, it is pitched at the general public and uses simple and entertaining language. Second, it is rooted in, and makes frequent reference to, recent academic research, based on content for a graduate level course. Third, the author thinks 'out of the box' in order to describe the possible evolution of central banks (including the prospect of their disappearance), and not only the status quo.?"--Provided by publisher.

Curzio Giannini's history of the evolution of central banks illustrates how the most relevant institutional developments have taken place at times of widespread confidence crises and in response to deflationary pressures. The eminent and highly-renowned author provides an analytical perspective to study the evolution of central banking as an endogenous response to crisis and to the ever increasing needs of economic growth. The key argument of the analysis is that crucial innovations in the payment technology (from the invention of coinage to the development of electronic money) could not have taken place without an institution--i.e. the central bank - that could preserve confidence in the instruments used as money. According to Curzio Giannini's "neo-institutionalist" methodological approach, social institutions are, in fact, essential in the coordination of individual decisions as they minimize transaction costs, overcome information asymmetries and deal with incomplete contracts

Includes bibliographies. ; [v. 1] Statutes and related materials selected and annotated by Hans Aufricht. Pref. by Per Jacobsson. -- v. 2. Europe; statutes and related materials selected and annotated by Hans Aufricht with the assistance of Jane B. Evensen. Pref. by Pierre-Paul Schweitzer. ; Mode of access: Internet. ; conv lwr.