A Comparative History Of Central Bank Behavior

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A Comparative History of Central Bank Behavior

John H. Wood
A Comparative History of Central Bank Behavior Book PDF

Author : John H. Wood
Publisher : Edward Elgar Publishing
Page : 313 pages
File Size : 43,7 Mb
Release : 2022-11-15
Category : Business & Economics
ISBN : 9781803926605

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A Comparative History of Central Bank Behavior by John H. Wood Pdf

It is widely believed that central banks have grown (the Bank of England) or were established (the Federal Reserve) to pursue the twin objectives of monetary and price stability. But why should they? Central bankers are people, too, whose behavior is presumably determined, like the rest of us, by their incentives and the information available to them. The author explores this question.

A History of Central Banking in Great Britain and the United States

John H. Wood
A History of Central Banking in Great Britain and the United States Book PDF

Author : John H. Wood
Publisher : Cambridge University Press
Page : 0 pages
File Size : 43,5 Mb
Release : 2008-12-08
Category : Business & Economics
ISBN : 0521741319

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A History of Central Banking in Great Britain and the United States by John H. Wood Pdf

Central banks in Great Britain and the United States arose early in the financial revolution. The Bank of England was created in 1694 while the first Banks of the United States appeared in 1791-1811 and 1816-36, and were followed by the Idependent Treasury, 1846-1914. These institutions, together with the Suffolk Bank and the New York Clearing House, exercised important central banking function before the creation of the Federal Reserve System in 1913. Significant monetary changes in the lives of these British and American institutions are examined within a framework that deals with the knowledge and behavior of central bankers and their interactions with economists and politicians. Central Bankers' behavior has shown considerable continuity in the influence of incentives and their interest in the stability of the financial markets. For example, the Federal Reserve's behavior during the Great Depression, the low inflation of the 1990s, and its resurgence the next decade follow from its structure and from government pressures rather than accidents of personnel.

The Federal Reserve System Purposes and Functions

Board of Governors of the Federal Reserve System
The Federal Reserve System Purposes and Functions Book PDF

Author : Board of Governors of the Federal Reserve System
Publisher : Unknown
Page : 0 pages
File Size : 42,5 Mb
Release : 2002
Category : Banks and Banking
ISBN : 0894991965

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The Federal Reserve System Purposes and Functions by Board of Governors of the Federal Reserve System Pdf

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.

The Oxford Handbook of the Economics of Central Banking

David G. Mayes,Pierre L. Siklos,Jan-Egbert Sturm
The Oxford Handbook of the Economics of Central Banking Book PDF

Author : David G. Mayes,Pierre L. Siklos,Jan-Egbert Sturm
Publisher : Oxford Handbooks
Page : 809 pages
File Size : 45,7 Mb
Release : 2019-03-15
Category : Business & Economics
ISBN : 9780190626198

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The Oxford Handbook of the Economics of Central Banking by David G. Mayes,Pierre L. Siklos,Jan-Egbert Sturm Pdf

"The Handbook reflects the state of the art in the theory and practice of central banking. It covers all the essential areas that have come under scrutiny since the global financial crisis of 2007-9"--

Central Banking in Theory and Practice

Alan S. Blinder
Central Banking in Theory and Practice Book PDF

Author : Alan S. Blinder
Publisher : MIT Press
Page : 116 pages
File Size : 41,6 Mb
Release : 1999-01-07
Category : Business & Economics
ISBN : 0262522608

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Central Banking in Theory and Practice by Alan S. Blinder Pdf

Alan S. Blinder offers the dual perspective of a leading academic macroeconomist who served a stint as Vice-Chairman of the Federal Reserve Board—one who practiced what he had long preached and then returned to academia to write about it. He tells central bankers how they might better incorporate academic knowledge and thinking into the conduct of monetary policy, and he tells scholars how they might reorient their research to be more attuned to reality and thus more useful to central bankers. Based on the 1996 Lionel Robbins Lectures, this readable book deals succinctly, in a nontechnical manner, with a wide variety of issues in monetary policy. The book also includes the author's suggested solution to an age-old problem in monetary theory: what it means for monetary policy to be "neutral."

The Evolution of Central Banks

Charles Goodhart
The Evolution of Central Banks Book PDF

Author : Charles Goodhart
Publisher : MIT Press
Page : 219 pages
File Size : 48,5 Mb
Release : 1988-09-16
Category : Business & Economics
ISBN : 9780262570732

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The Evolution of Central Banks by Charles Goodhart Pdf

The Evolution of Central Banks employs a wide range of historical evidence and reassesses current monetary analysis to argue that the development of non-profit-maximizing and noncompetitive central banks to supervise and regulate the commercial banking system fulfils a necessary and natural function. Goodhart surveys the case for free banking, examines the key role of the clearing house in the evolution of the central bank, and investigates bank expansion and fluctuation in the context of the clearing house mechanism. He concludes that it is the noncompetitive aspect of the central bank that is crucial to the performance of its role. Goodhart addresses the questions of deposit insurance and takes up the "club theory" approach to the central bank. Included in the historical study of their origins are 8 European central banks, the Bank of Japan, the Bank of England, and the Federal Reserve Board of the United States.

Issues in the Governance of Central Banks

Anonim
Issues in the Governance of Central Banks Book PDF

Author : Anonim
Publisher : Unknown
Page : 189 pages
File Size : 42,5 Mb
Release : 2009
Category : Banks and banking, Central
ISBN : 9291317918

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Issues in the Governance of Central Banks by Anonim Pdf

This report by the Central Bank Governance Group presents information intended to help decision-makers set up governance arrangements that are most suitable for their own circumstances. The report draws on a large body of information on the design and operation of central banks that the BIS has brought together since it initiated work on central bank governance in the early 1990s. The need to deal with chronic inflation in the 1970s and 1980s prompted the identification of price stability as a formal central bank objective and led to a significant reworking of governance arrangements. The current global financial crisis could have equally important implications for central banks, particularly with respect to their role in fostering financial stability. Although it is too early to know how central banking will change as a result, the report takes an important first step in identifying governance questions that the crisis poses.

Fragile by Design

Charles W. Calomiris,Stephen H. Haber
Fragile by Design Book PDF

Author : Charles W. Calomiris,Stephen H. Haber
Publisher : Princeton University Press
Page : 584 pages
File Size : 55,6 Mb
Release : 2015-08-04
Category : Business & Economics
ISBN : 9780691168357

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Fragile by Design by Charles W. Calomiris,Stephen H. Haber Pdf

Why stable banking systems are so rare Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.

The Great Inflation

Michael D. Bordo,Athanasios Orphanides
The Great Inflation Book PDF

Author : Michael D. Bordo,Athanasios Orphanides
Publisher : University of Chicago Press
Page : 545 pages
File Size : 44,7 Mb
Release : 2013-06-28
Category : Business & Economics
ISBN : 9780226066950

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The Great Inflation by Michael D. Bordo,Athanasios Orphanides Pdf

Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.

Central Bank Credit to the Government

Mr.Luis Ignacio Jácome,Ms.Marcela Matamoros-Indorf,Ms.Mrinalini Sharma,Mr.Simon Townsend
Central Bank Credit to the Government Book PDF

Author : Mr.Luis Ignacio Jácome,Ms.Marcela Matamoros-Indorf,Ms.Mrinalini Sharma,Mr.Simon Townsend
Publisher : International Monetary Fund
Page : 44 pages
File Size : 54,8 Mb
Release : 2012-01-01
Category : Business & Economics
ISBN : 9781463957391

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Central Bank Credit to the Government by Mr.Luis Ignacio Jácome,Ms.Marcela Matamoros-Indorf,Ms.Mrinalini Sharma,Mr.Simon Townsend Pdf

Using a central bank legislation database, this paper documents and analyzes worldwide institutional arrangements for central bank lending to the government and identifies international practices. Key findings are: (i) in most advanced countries, central banks do not finance government expenditure; (ii) in a large number of emerging and developing countries, short-term financing is allowed in order to smooth out tax revenue fluctuations; (iii) in most countries, the terms and conditions of these loans are typically established by law, such that the amount is capped at a small proportion of annual government revenues, loans are priced at market interest rates, and their maturity falls within the same fiscal year; and (iv) in the vast majority of countries, financing other areas of the state, such as provincial governments and public enterprises, is not allowed. The paper does not address central banks' financial support during financial crises.

The History of Banks

Richard Hildreth
The History of Banks Book PDF

Author : Richard Hildreth
Publisher : Unknown
Page : 160 pages
File Size : 41,8 Mb
Release : 1837
Category : Business & Economics
ISBN : UOM:39015025021307

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The History of Banks by Richard Hildreth Pdf

Also attributed to John H. Eastburn.

Public Banks in the Age of Financialization

Christoph Scherrer
Public Banks in the Age of Financialization Book PDF

Author : Christoph Scherrer
Publisher : Edward Elgar Publishing
Page : 288 pages
File Size : 44,8 Mb
Release : 2017-11-24
Category : Electronic
ISBN : 9781786430663

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Public Banks in the Age of Financialization by Christoph Scherrer Pdf

This book asks the important question of whether public banks are a better alternative to profit-seeking private banks. Do public banks provide finance for development? Do they serve as stability anchors in financial markets? What kind of governance keeps public banks accountable to the public? Theoretically the book draws on the works of Minsky for the question on stability and on interpretative policy analysis for the issue of governance. It compares empirically three countries with significant public banks: Brazil, Germany, and India.

The European Central Bank

Hanspeter K. Scheller,European Central Bank
The European Central Bank Book PDF

Author : Hanspeter K. Scheller,European Central Bank
Publisher : Unknown
Page : 229 pages
File Size : 46,8 Mb
Release : 2006
Category : Banks and banking, Central
ISBN : 928990027X

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The European Central Bank by Hanspeter K. Scheller,European Central Bank Pdf

Comprehensive 200-page overview of the ECB from its inception in June 1998 until the present day.

How Do Central Banks Talk?

Alan S. Blinder
How Do Central Banks Talk Book PDF

Author : Alan S. Blinder
Publisher : Centre for Economic Policy Research
Page : 150 pages
File Size : 55,6 Mb
Release : 2001
Category : Business & Economics
ISBN : 189812860X

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How Do Central Banks Talk? by Alan S. Blinder Pdf

Not long ago, secrecy was the byword in central banking circles, but now the unmistakable trend is towards greater openness and transparency. This, the third Geneva Report on the World Economy, describes and evaluates some of the changes in how central banks talk to the markets, to the press, and to the public. The report first assesses the case for transparency ? defined as providing sufficient information for the public to understand the policy regime ? and concludes that it is very strong, based on both policy effectiveness and democratic accountability. It then examines what should be the content of communication and argues that central banks ought to spell out their long-run objectives and methods. It then investigates the link between the decision-making process and central bank communication, drawing a distinction between individualistic and collegial committees. The report concludes with a review of the communications strategies of some of the main central banks.

The Rationale of Central Banking and the Free Banking Alternative

Vera Constance Smith
The Rationale of Central Banking and the Free Banking Alternative Book PDF

Author : Vera Constance Smith
Publisher : Liberty Fund
Page : 0 pages
File Size : 43,6 Mb
Release : 1990
Category : Business & Economics
ISBN : 0865970874

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The Rationale of Central Banking and the Free Banking Alternative by Vera Constance Smith Pdf

The Rationale of Central Banking was first published in England in 1936. Vera Smith spent her professional career in a variety of research positions. She wrote articles and books on money, banking, economic development, and the labor market and translated into English books by Wilhelm Röpke, Oskar Morgenstern, and Fritz Machlup. This book provides a scholarly review and judicious assessments of the experience and theory that bear on the issues of free banking and central banking. Its wide-ranging discussion identifies both the fallacies in the arguments for central banks and the influential fallacies in the arguments against free banking. Vera Smith's work should play a prominent role in any reappraisal of our monetary institutions.