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 vii
... 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 ...
... 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 ...
Seite xvii
... central bank, Norges Bank, celebrates its bicentennial. This is a timely occasion to ask what is really at the core ... independence. Twenty years later, and with recent experiences of the global financial crisis in mind, we have learnt ...
... central bank, Norges Bank, celebrates its bicentennial. This is a timely occasion to ask what is really at the core ... independence. Twenty years later, and with recent experiences of the global financial crisis in mind, we have learnt ...
Seite 2
... central bank independence (Flandreau, Le Cacheux, and Zumer, 1998). In parallel, the belief had spread that leaving the establishment of trust solely to market forces was unlikely to produce satisfying results, and in Europe it was felt ...
... central bank independence (Flandreau, Le Cacheux, and Zumer, 1998). In parallel, the belief had spread that leaving the establishment of trust solely to market forces was unlikely to produce satisfying results, and in Europe it was felt ...
Seite 10
... central bank from a practitioner's perspective. We summarize the chapters briefly in the following. 5.1 The Central Bank as ... independence. Finally, credibility is most affected by whether the shock can be associated with policy errors ...
... central bank from a practitioner's perspective. We summarize the chapters briefly in the following. 5.1 The Central Bank as ... independence. Finally, credibility is most affected by whether the shock can be associated with policy errors ...
Seite 11
... central bank independence in small open economies. The authors report empirical evidence which indicates that it is more likely that central bank independence is durable in small open economies than in large economies, regardless of the ...
... central bank independence in small open economies. The authors report empirical evidence which indicates that it is more likely that central bank independence is durable in small open economies than in large economies, regardless of the ...
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