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Author: Emmanuel Apel
Publisher: Routledge
ISBN: 113442017X
Category : Business & Economics
Languages : en
Pages : 314
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Book Description
This new study provides a comprehensive survey of the recently established European financial system in comparison to previous European systems and the US Federal Reserve. This well-written contribution to financial economics should be of interest to academics as well as professionals concerned with financial systems around the world.
Author: Emmanuel Apel
Publisher: Routledge
ISBN: 113442017X
Category : Business & Economics
Languages : en
Pages : 314
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Book Description
This new study provides a comprehensive survey of the recently established European financial system in comparison to previous European systems and the US Federal Reserve. This well-written contribution to financial economics should be of interest to academics as well as professionals concerned with financial systems around the world.
Author: Board of Governors of the Federal Reserve System
Publisher:
ISBN: 9780894991967
Category : Banks and Banking
Languages : en
Pages : 0
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Book Description
Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Author: John H. Wood
Publisher: Cambridge University Press
ISBN: 9780521850131
Category : Business & Economics
Languages : en
Pages : 464
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Book Description
This 2005 treatment compares the central banks of Britain and the United States.
Author: Joseph Wang
Publisher: Joseph Wang
ISBN: 0999136755
Category : Business & Economics
Languages : en
Pages : 196
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Book Description
Central banking is magic. With a few words, the Fed can lift the stock market out of desperation and catapult it towards euphoric highs. With a few keystrokes, the Fed can conjure up trillions of dollars and fund virtually unlimited Federal spending. And with a few poor decisions, the Fed can plunge the entire world into a recession. The Federal Reserve is one of the most powerful institutions in the world, and also one of the most difficult to understand. The Fed acts through its Open Markets Desk, which sits at the heart of the global financial system as the world’s ultimate and limitless provider of dollars. On behalf of policy makers, the Desk gathers market intelligence from all the major market participants, sifts through reams of internal data, and works behind the scenes keep the financial system intact. It is responsible for all of the Fed's market operations, from trillions in quantitative easing to hundreds of billions in repo and FX-swap loans. The financial crises of 2008 and 2020 abated only through the emergency interventions of the Desk. Joseph Wang spent five years studying the monetary system as a trader on the Desk. From that vantage point, Joseph saw firsthand how the Fed operates and how the financial system really works. This book is a distillation of his experience that aims to educate and demystify. After reading this book, you will understand how money is created, how the global dollar system is structured, and how it all fits into the broader financial system. The views in this book do not necessarily reflect those of the Federal Reserve Bank of New York or the Federal Reserve System.
Author: Charles Albert Eric Goodhart
Publisher: MIT Press
ISBN: 9780262071673
Category : Business & Economics
Languages : en
Pages : 560
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Book Description
As economic advisor to the Bank of England for many years, C. A. E. Goodhart is uniquely positioned to assess the role of the central bank in the modern financial system. This book brings together twenty-one of his previously published articles dealing with the changing functions of central banks over time, recent efforts to maintain price stability, and debates over specific financial regulation proposals in the UK. Although the current day-to-day operations of central banks are subject to continuous comment and frequent criticism, their structural role within the economic system as a whole has generally been accepted without much question, despite several attempts by economists in recent decades to challenge the value of the institution. C. A. E. Goodhart brings his knowledge of both the theoretical arguments and the actual working of central banks to bear in these essays. Part I looks at the general purposes and functions of central banks within the financial system and their evolution over time. Part II concentrates on the current objectives and operations of central banks, and the maintenance of price stability in particular. Part III analyzes the broader issues of financial regulation.
Author: Howard Davies
Publisher: Princeton University Press
ISBN: 1400834635
Category : Business & Economics
Languages : en
Pages : 337
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Book Description
An inside look at the role and future of central banking in the global economy The crash of 2008 revealed that the world's central banks had failed to offset the financial imbalances that led to the crisis, and lacked the tools to respond effectively. What lessons should central banks learn from the experience, and how, in a global financial system, should cooperation between them be enhanced? Banking on the Future provides a fascinating insider's look into how central banks have evolved and why they are critical to the functioning of market economies. The book asks whether, in light of the recent economic fallout, the central banking model needs radical reform. Supported by interviews with leading central bankers from around the world, and informed by the latest academic research, Banking on the Future considers such current issues as the place of asset prices and credit growth in anti-inflation policy, the appropriate role for central banks in banking supervision, the ways in which central banks provide liquidity to markets, the efficiency and cost-effectiveness of central banks, the culture and individuals working in these institutions, as well as the particular issues facing emerging markets and Islamic finance. Howard Davies and David Green set out detailed policy recommendations, including a reformulation of monetary policy, better metrics for financial stability, closer links with regulators, and a stronger emphasis on international cooperation. Exploring a crucial sector of the global economic system, Banking on the Future offers new ideas for restoring financial strength to the foundations of central banking.
Author: Juliet Johnson
Publisher: Cornell University Press
ISBN: 1501703757
Category : Political Science
Languages : en
Pages : 311
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Book Description
Priests of Prosperity explores the unsung revolutionary campaign to transform postcommunist central banks from command-economy cash cows into Western-style monetary guardians. Juliet Johnson conducted more than 160 interviews in seventeen countries with central bankers, international assistance providers, policymakers, and private-sector finance professionals over the course of fifteen years. She argues that a powerful transnational central banking community concentrated in Western Europe and North America integrated postcommunist central bankers into its network, shaped their ideas about the role of central banks, and helped them develop modern tools of central banking. Johnson's detailed comparative studies of central bank development in Hungary, the Czech Republic, Slovakia, Russia, and Kyrgyzstan take readers from the birth of the campaign in the late 1980s to the challenges faced by central bankers after the global financial crisis. As the comfortable certainties of the past collapse around them, today’s central bankers in the postcommunist world and beyond find themselves torn between allegiance to their transnational community and its principles on the one hand and their increasingly complex and politicized national roles on the other. Priests of Prosperity will appeal to a diverse audience of scholars in political science, finance, economics, geography, and sociology as well as to central bankers and other policymakers interested in the future of international finance, global governance, and economic development.
Author: Simone Weinert
Publisher: GRIN Verlag
ISBN: 3638267857
Category : Business & Economics
Languages : en
Pages : 38
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Book Description
Seminar paper from the year 2003 in the subject Business economics - Investment and Finance, grade: 1,3 (A), Stralsund University of Applied Sciences (Economics), language: English, abstract: The following essay with the title „Central Banking – The organisation of the Fed and their politics within the last years (esp. in comparison to the ESCB)“ is part of the final examination of the course International and Baltic Finance at the University of Applied Sciences Stralsund. This paper will explain central banking in general and than have a closer look on the U.S. Federal Reserve System. After that it will have a look on the European System of Central Banks, continuing with comparing the two systems, looking for the similarities and differences. During my research I read quiet a lot of books and articles and after some time I really got interested in the topic. I really wanted to know how all this central banking works, and what kind of system (the American or the European) is the better one. But I also recognised that there are of course plenty of books, dealing with this topic, but everybody seems to have a different opinion, of what is better, what suits the society best. So while writing this essay, I tried to give back what I found interesting and what seems to be the opinion of several people. Unfortunately I could not stick to the required 3000 words, because my topic was so complex and wide, that it forced me to write some more words on it.
Author: Charles Goodhart
Publisher: Anthem Press
ISBN: 1783083042
Category : Business & Economics
Languages : en
Pages : 292
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Book Description
This book reflects on the innovations that central banks have introduced since the 2008 collapse of Lehman Brothers to improve their modes of intervention, regulation and resolution of financial markets and financial institutions. Authors from both academia and policy circles explore these innovations through four approaches: ‘Bank Capital Regulation’ examines the Basel III agreement; ‘Bank Resolution’ focuses on effective regimes for regulating and resolving ailing banks; ‘Central Banking with Collateral-Based Finance’ develops thought on the challenges that market-based finance pose for the conduct of central banking; and ‘Where Next for Central Banking’ examines the trajectory of central banking and its new, central role in sustaining capitalism.
Author: Yoshiharu Oritani
Publisher: Springer
ISBN: 9811390010
Category : Business & Economics
Languages : en
Pages : 327
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Book Description
This book uniquely explores the role and governance mechanism of central banks by applying new institutional economics (NIE). Simultaneously, the book tests the analytical viability of NIE when applied to an organization that has both public and private characteristics. Special attention is paid to the Bank of Japan (BOJ) based on the author’s 30 years of work experience and “participant observation” there, touching upon discussion of central bank independence. The book argues that central bank independence cannot be defended solely by law, and a mechanism to eliminate requests from politicians needs to be embedded within the governance structure. The book also provides a comparative analysis between the BOJ and central banks in Europe and the USA. In reviewing the global financial crisis of 2008–2009, it suggests possible measures based on behavioral economics and public choice theory. These theory-based analyses provide useful insights when considering matters such as whether a central bank should issue electronic money or the European system of central banks could be established in Asia.
