Central Banks at a Crossroads: What Can We Learn from History?Michael D. Bordo, Øyvind Eitrheim, Marc Flandreau, Jan F. Qvigstad Cambridge University Press, 09.06.2016 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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Seite xix
... Bank; Marc Flandreau, Graduate Institute of International and Development Studies, Geneva; and Jan F. Qvigstad, Norges Bank have constituted the steering group for Norges Bank's Bicentenary Project 1816–2016. COVER IMAGES The cover ...
... Bank; Marc Flandreau, Graduate Institute of International and Development Studies, Geneva; and Jan F. Qvigstad, Norges Bank have constituted the steering group for Norges Bank's Bicentenary Project 1816–2016. COVER IMAGES The cover ...
Seite 3
... Bank from bending the limits of the Act. In other words, the Bank's ability to conduct LOLR policies was itself constrained by the authorization of the State, which enjoyed the right to review such policies afterward (in turn creating ...
... Bank from bending the limits of the Act. In other words, the Bank's ability to conduct LOLR policies was itself constrained by the authorization of the State, which enjoyed the right to review such policies afterward (in turn creating ...
Seite 24
... Bank of the City was kept separate from the Taula although it was possible to transfer balances between the two. Usher (1943, 433–58) claims that the Banch's losses on exchange were subsidized by the city. The Bank's initial purpose as ...
... Bank of the City was kept separate from the Taula although it was possible to transfer balances between the two. Usher (1943, 433–58) claims that the Banch's losses on exchange were subsidized by the city. The Bank's initial purpose as ...
Seite 27
... bank money stood at a 20 percent discount to cash, banking supervisors were created and bankers were required to pay deposits in cash without delay when demanded. Yet by 1584 the last private bank in Venice went bankrupt, and the Senate ...
... bank money stood at a 20 percent discount to cash, banking supervisors were created and bankers were required to pay deposits in cash without delay when demanded. Yet by 1584 the last private bank in Venice went bankrupt, and the Senate ...
Seite 28
... bank's balances were effectively devalued by 20 percent, and the bank gained full discretion in the choice of which coins to pay out. Another suspension took place from 1714 to 1739; during that time the bank offered demand depositors ...
... bank's balances were effectively devalued by 20 percent, and the bank gained full discretion in the choice of which coins to pay out. Another suspension took place from 1714 to 1739; during that time the bank offered demand depositors ...
Inhalt
8 | |
18 | |
An Historical and Quantitative | 62 |
The Coevolution of Money Markets and Monetary Policy | 177 |
Central Bank Independence in Small Open Economies | 195 |
Economists on the Lender of Last | 231 |
A Century and a Half of Central Banks International | 280 |
Perspectives from Emerging Economies | 387 |
From | 424 |
Historical Perspectives | 493 |
The Evolving | 563 |
Lessons Learnt from | 610 |
A Practitioners | 627 |
Index | 673 |
Andere Ausgaben - Alle anzeigen
Central Banks at a Crossroads: What Can We Learn from History? Michael D. Bordo,Øyvind Eitrheim,Marc Flandreau,Jan F. Qvigstad Eingeschränkte Leseprobe - 2016 |
Central Banks at a Crossroads: What Can We Learn from History? Michael D. Bordo,Øyvind Eitrheim,Marc Flandreau,Jan F. Qvigstad Keine Leseprobe verfügbar - 2020 |
Häufige Begriffe und Wortgruppen
asset price Bagehot balance sheet Banco Bank of Amsterdam Bank of England bank’s bankers banking system Banque de France Bernanke bills boom Bordo Borio Bretton Woods Bretton Woods system bubble Capie capital central bank credibility central bank independence coin collateral countries crises currency deflation deposits developed discount rate dollar Economic History Eichengreen emerging market European example failure Federal Reserve Bank financial crisis financial markets financial stability financial system fiscal Flandreau foreign exchange foreign exchange markets Friedman and Schwartz funds global gold standard government debt inflation rates inflation targeting interest rates international monetary Journal last resort lender of last lending liabilities liquidity loans LOLR London low inflation market rates monetary policy money market nineteenth century Norges Bank open market operations panic paper payment system percent period price stability public banks Reichsbank risk role sector shocks Siklos small open economies standing facility sterling Treasury World