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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: Howard Davies
Publisher: Princeton University Press
ISBN: 1400834635
Category : Business & Economics
Languages : en
Pages : 337
Get Book
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: Forrest Capie
Publisher: Cambridge University Press
ISBN: 9780521496346
Category : Business & Economics
Languages : en
Pages : 396
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Book Description
This volume contains two major papers prepared for the Bank of England's Tercentenary Symposium in June 1994. The first, by Forrest Capie, Charles Goodhart and Norbert Schnadt, provides an authoritative account of the evolution of central banking. It traces the development of both the monetary and financial stability concerns of central banks, and includes individual sections on the evolution and constitutional positions of 31 central banks from around the world. The second paper, by Stanley Fischer, explores the major policy dilemmas now facing central bankers: the extent to which there is a short-term trade-off between inflation and growth; the choice of inflation targets; and the choice of operating procedures. Important contributions by leading central bankers from around the world, and the related Per Jacobsen lecture by Alexander Lamfalussy, are also included in the volume.
Author: Sylvio Kappes
Publisher: Edward Elgar Publishing
ISBN: 9781839100925
Category :
Languages : en
Pages : 416
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Book Description
Part of the Elgar Series on Central Banking and Monetary Policy, this book explores challenges surrounding central banking today. It goes beyond the immediate concerns with monetary policy and focuses instead on the concept of central banking more generally. Chapter authors explore emerging fields of central bank's actions, discussing, for instance, how monetary policy can affect income distribution, how it has differentiated impacts according to gender, how it can help to deal with climate change, and how it can promote financial stability and structural change. Policy makers, academics and the financial press will all benefit from the insight in The Future of Central Banking.
Author: Robert Pringle
Publisher:
ISBN: 9781902182704
Category : Banks and banking, Central
Languages : en
Pages : 178
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Book Description
This book is no blueprint for a new model central bank. It is too early for that. Where the political and intellectual mood will settle remains too difficult to gauge. Yet few would disagree with the claim of Olivier Blanchard, the chief economist of the International Monetary Fund (IMF), that events point to a greater role for the state in shaping the economic course. Factors specific to political structures, financial markets and economic circumstances have proven to matter more than we might have thought. And a world in which there is a neat segmentation between the monetary, fiscal and supervisory policy strands between central banks, treasuries and regulators no longer seems possible. So, while there is no framework for a new way to do central banking within these pages, the chapters that follow can - and do - offer much in the way of insight into how the profession can best handle the challenges this much-changed world will present.
Author: Vallet, Guillaume
Publisher: Edward Elgar Publishing
ISBN: 1800376405
Category : Business & Economics
Languages : en
Pages : 325
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Book Description
Part of The Elgar Series on Central Banking and Monetary Policy, this book explores the relationship between central banking, monetary policy and the economy at large, focusing on the specific relationship between central banking, monetary policy and the future of money.
Author: Nils Herger
Publisher: Springer
ISBN: 3030051625
Category : Business & Economics
Languages : en
Pages : 200
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Book Description
Issues related to central banks feature regularly in economic news coverage, and in times of economic or financial crisis, especially when a commercial bank is bailed out, they become the focus of the policy debate. But what role do central banks play in a modern economy? How do central banks wield influence over the financial system and the broad economy? Through which channels does monetary policy impact macroeconomic fundamentals such as inflation or unemployment? For example, how does a central bank alter the money supply? What are the benefits of central bank independence, and what are the up- and downsides of having a common currency? This book provides easily accessible answers to these and other questions associated with central banking.
Author: Panicos O. Demetriades
Publisher:
ISBN: 9781788211536
Category : Euro
Languages : en
Pages : 0
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Book Description
Over the past decade central banks have taken on new and expanded roles in an attempt to manage the global financial crisis. Panicos Demetriades, former governor of the Central Bank of Cyprus during the country's bailout in 2013, examines the role of the ECB and its adoption of these new powers.
Author: Nicola Bilotta
Publisher: Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften
ISBN: 9783034342759
Category :
Languages : en
Pages : 202
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Book Description
The value of global cashless payments has been radically increasing worldwide. Despite cash being the most used payment instrument in the world, technological innovation and new consumer preferences are decisively transforming the way consumers pay and manage money. The COVID-19 pandemic may also have been an accelerator of the cashless mega-trend. Private players currently dominate the digital payment ecosystem, urging central banks to seek solutions to ensure public access to legal tender if cash is phased out. In this context, the idea of a Central Bank Digital Currency (CBDC) is gaining momentum. Nevertheless, there is a need to better understand the implications in terms of risks, benefits and potential costs of CBDCs. From privacy concerns to macroeconomic effects, these implications blur the boundaries of the payment and financial systems, challenging the core functions of our economy and society.
Author: David E. Altig
Publisher: Cambridge University Press
ISBN: 9781139440066
Category : Business & Economics
Languages : en
Pages : 342
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Book Description
This volume collects the proceedings from a conference on the evolution and practice of central banking sponsored by the Central Bank Institute of the Federal Reserve Bank of Cleveland. The articles and discussants' comments in this volume largely focus on two questions: the need for central banks, and how to maintain price stability once they are established. The questions addressed include whether large banks (or coalitions of small banks) can substitute for government regulation and due central bank liquidity provision; whether the future will have fewer central banks or more; the possibility of private means to deliver a uniform currency; if competition across sovereign currencies can ensure global price stability; the role of learning (and unlearning) the lessons of the past inflationary episodes in understanding central bank behavior; and an analysis of the European Central Bank.
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.
