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 viii
... System: A Capital Account Historical Perspective Claudio Borio, Harold James, and Hyun Song Shin Central Banking ... Payment Systems: The Evolving Trade-off between Cost and Risk Charles Kahn, Stephen Quinn, and William Roberds Central ...
... System: A Capital Account Historical Perspective Claudio Borio, Harold James, and Hyun Song Shin Central Banking ... Payment Systems: The Evolving Trade-off between Cost and Risk Charles Kahn, Stephen Quinn, and William Roberds Central ...
Seite xvii
... system requires that the three dimensions of a trinity of price stability, financial stability and a well-functioning payment system are all jointly in place, acknowledging of course their mutual interdependence. Neither the ...
... system requires that the three dimensions of a trinity of price stability, financial stability and a well-functioning payment system are all jointly in place, acknowledging of course their mutual interdependence. Neither the ...
Seite 13
... system tends to amplify the “excess financial elasticity” of national economies. Second, there is a need to go beyond the resident/non-resident distinction that underpins the balance of payments and to consider the consolidated balance ...
... system tends to amplify the “excess financial elasticity” of national economies. Second, there is a need to go beyond the resident/non-resident distinction that underpins the balance of payments and to consider the consolidated balance ...
Seite 14
... systems. Central bank money contributes to the effectiveness of the wider payment system and its characteristics depend on the structure of the central bank. First, the authors examine the Early Modern system of bills of exchange ...
... systems. Central bank money contributes to the effectiveness of the wider payment system and its characteristics depend on the structure of the central bank. First, the authors examine the Early Modern system of bills of exchange ...
Seite 21
... money system was inherently wasteful. Metal stocked in the form of coinage represents resources that are not used to satisfy economic wants. Hence a pressure has always existed to find ways to economize on the stock of coined metals to ...
... money system was inherently wasteful. Metal stocked in the form of coinage represents resources that are not used to satisfy economic wants. Hence a pressure has always existed to find ways to economize on the stock of coined metals to ...
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