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 6
... deposit insurance would ensure that no comparable crisis would occur again in the future. While such beliefs were ... deposits from the banking system and invested them in short term assets that turned out to be “toxic” if not that of ...
... deposit insurance would ensure that no comparable crisis would occur again in the future. While such beliefs were ... deposits from the banking system and invested them in short term assets that turned out to be “toxic” if not that of ...
Seite 21
... deposit claims. Over time a payment by book-entry transfer became accepted as a valid discharge of debt, that had the additional advantage of providing legally admissible evidence of payment. This form of payment by transfers of deposits ...
... deposit claims. Over time a payment by book-entry transfer became accepted as a valid discharge of debt, that had the additional advantage of providing legally admissible evidence of payment. This form of payment by transfers of deposits ...
Seite 23
... deposits and even had a monopoly on certain types of deposits (conditioned, i.e., payable when certain stipulated conditions were met). It did not keep 100 percent reserves. It provided short-term financing to the city and served as ...
... deposits and even had a monopoly on certain types of deposits (conditioned, i.e., payable when certain stipulated conditions were met). It did not keep 100 percent reserves. It provided short-term financing to the city and served as ...
Seite 24
... deposits were revalued but to a lesser extent than the currency's debasement (Usher, 1943, 376). In the early seventeenth-century, monetary disorders prompted the creation of a separate bank, the Banch de la Ciutat, to accept deposits ...
... deposits were revalued but to a lesser extent than the currency's debasement (Usher, 1943, 376). In the early seventeenth-century, monetary disorders prompted the creation of a separate bank, the Banch de la Ciutat, to accept deposits ...
Seite 25
... deposits, make transfers, lend to their municipalities and act as fiscal agents; they also endured the same vicissitudes as their counterparts in Barcelona. Genoa The city of Genoa had issued debt backed by specific tax revenues since ...
... deposits, make transfers, lend to their municipalities and act as fiscal agents; they also endured the same vicissitudes as their counterparts in Barcelona. Genoa The city of Genoa had issued debt backed by specific tax revenues since ...
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