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 xii
... collateral, and interest rates”, Annals of Finance (2013). Stephen Quinn, associate professor of economics at Texas Christian University, USA. Selected publications include: “Money, Finance and Capital Markets”, in The Cambridge ...
... collateral, and interest rates”, Annals of Finance (2013). Stephen Quinn, associate professor of economics at Texas Christian University, USA. Selected publications include: “Money, Finance and Capital Markets”, in The Cambridge ...
Seite 3
... collateral, at high rates) have been often commented upon (Bignon, Flandreau, and Ugolini (2011) and Bordo (2014)). More important for our purpose here is the question of understanding why the Bank of England rather than another ...
... collateral, at high rates) have been often commented upon (Bignon, Flandreau, and Ugolini (2011) and Bordo (2014)). More important for our purpose here is the question of understanding why the Bank of England rather than another ...
Seite 5
... collateral (public and private) to new counterparties (bank and nonbank). This took last-resort lending to a new level. Some central banks went one step further, becoming effective market-makers of last resort in some assets to secure ...
... collateral (public and private) to new counterparties (bank and nonbank). This took last-resort lending to a new level. Some central banks went one step further, becoming effective market-makers of last resort in some assets to secure ...
Seite 25
... collateral. It dealt in foreign exchange only in relation to the collection of revenues from Genoese territories in the Eastern Mediterranean. Business developed quickly, but the Bank was unable to fulfill the city's mandate of ...
... collateral. It dealt in foreign exchange only in relation to the collection of revenues from Genoese territories in the Eastern Mediterranean. Business developed quickly, but the Bank was unable to fulfill the city's mandate of ...
Seite 30
... collateral. Partial balance sheets compiled by Sieveking (1933, 1934b) suggest that by the mid-seventeenth century, over half the Bank's assets consisted of loans. The Bank was successful from its beginning, but suffered many 30 William ...
... collateral. Partial balance sheets compiled by Sieveking (1933, 1934b) suggest that by the mid-seventeenth century, over half the Bank's assets consisted of loans. The Bank was successful from its beginning, but suffered many 30 William ...
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