Central Banks at a Crossroads (eBook, ePUB)

What Can We Learn from History?
Redaktion: Bordo, Michael D.

• Format: ePub

Produktbeschreibung

Throughout their long history, the primary concern of central banks has oscillated between price stability in normal times and financial stability in extraordinary times. In the wake of the recent global financial crisis, central banks have been given additional responsibilities to ensure financial stability, which has sparked intense debate over the nature of their role. Bankers and policy makers face an enormous challenge finding the right balance of power between the central bank and the state. This volume is the result of an international conference held at Norges Bank (the central bank of Norway). International experts and policy makers present research and historical analysis on the evolution of the central bank. They specifically focus on four key aspects: its role as an institution, the part it plays within the international monetary system, how to delineate and limit its functions, and how to apply the lessons of the past two centuries.

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Produktdetails

• Verlag: Cambridge University Press
• Erscheinungstermin: 9. Juni 2016
• Englisch
• ISBN-13: 9781316653272
• Artikelnr.: 52853774

Inhaltsangabe

Preface Michael D. Bordo, Øyvind Eitrheim, Marc Flandreau and Jan F.
Qvigstad; 1. Introduction Michael D. Bordo, Øyvind Eitrheim, Marc Flandreau
and Jan F. Qvigstad; 2. The descent of central banks (1400-1815) William
Roberds and François R. Velde; 3. Central bank credibility - an historical
and quantitative exploration Michael D. Bordo and Pierre L. Siklos; 4. The
coevolution of money markets and monetary policy, 1815-2008 Clemens Jobst
and Stefano Ugolini; 5. Central bank independence in small open economies
Forrest Capie, Geoffrey Wood and Juan Castañeda; 6. Fighting the last war -
economists on the lender of last resort Richard S. Grossman and Hugh
Rockoff; 7. A century and a half of central banks, international reserves
and international currencies Barry Eichengreen and Marc Flandreau; 8.
Central banks and the stability of the international monetary regime
Catherine Schenk and Tobias Straumann; 9. The international monetary and
financial system - a capital account historical perspective Claudio Borio,
Harold James and Hyun Song Shin; 10. Central banking - perspectives from
emerging economies Menzie D. Chinn; 11. The evolution of the financial
stability mandate from its origins to the present day Gianni Toniolo and
Eugene N. White; 12. Bubbles and central banks - historical perspectives
Markus K. Brunnermeier and Isabel Schnabel; 13. Central banks and payment
systems - the evolving trade-off between cost and risk Charles Kahn,
Stephen Quinn and Will Roberds; 14. Central bank evolution - lessons learnt
from the sub-prime crisis C. A. E. Goodhart; 15. The evolution of central
banks - a practitioner's perspective Andrew G. Haldane and Jan F. Qvigstad;
Index.