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Author: Francesco Papadia Publisher: Oxford University Press ISBN: 0198806191 Category : Business & Economics Languages : en Pages : 347
Book Description
An examination of the post-recession responsibilities of central banks, this book proposes adaptations to the central banking model that preserve the advantages in terms of inflation control brought by their independence, while taking into account the long-term consequences of the Great Recession.
Author: Francesco Papadia Publisher: Oxford University Press ISBN: 0198806191 Category : Business & Economics Languages : en Pages : 347
Book Description
An examination of the post-recession responsibilities of central banks, this book proposes adaptations to the central banking model that preserve the advantages in terms of inflation control brought by their independence, while taking into account the long-term consequences of the Great Recession.
Author: F. Papadia Publisher: ISBN: 9780191844058 Category : Banks and banking, Central Languages : en Pages :
Book Description
An examination of the post-recession responsibilities of central banks, this book proposes adaptations to the central banking model that preserve the advantages in terms of inflation control brought by their independence, while taking into account the long-term consequences of the Great Recession.
Author: Masaaki Shirakawa Publisher: Yale University Press ISBN: 0300258976 Category : Bankers Languages : en Pages : 534
Book Description
A rare insider's account of the inner workings of the Japanese economy, and the Bank of Japan's monetary policy, by a career central banker The Japanese economy, once the envy of the world for its dynamism and growth, lost its shine after a financial bubble burst in early 1990s and slumped further during the Global Financial Crisis in 2008. It suffered even more damage in 2011, when a severe earthquake set off the Fukushima Daiichi nuclear disaster. However, the Bank of Japan soldiered on to combat low inflation, low growth, and low interest rates, and in many ways it served as a laboratory for actions taken by central banks in other parts of the world. Masaaki Shirakawa, who led the bank as governor from 2008 to 2013, provides a rare insider's account of the workings of Japanese economic and monetary policy during this period and how it challenged mainstream economic thinking.
Author: Paul Tucker Publisher: Princeton University Press ISBN: 0691196303 Category : Business & Economics Languages : en Pages : 662
Book Description
Tucker presents guiding principles for ensuring that central bankers and other unelected policymakers remain stewards of the common good.
Author: Gilles Beneplanc Publisher: Oxford University Press ISBN: 0199339929 Category : Business & Economics Languages : en Pages : 224
Book Description
The subprime crisis has shown that the sophisticated risk management models used by banks and insurance companies had serious flaws. Some people even suggest that these models are completely useless. Others claim that the crisis was just an unpredictable accident that was largely amplified by the lack of expertise and even naivety of many investors. This book takes the middle view. It shows that these models have been designed for "tranquil times", when financial markets behave smoothly and efficiently. However, we are living in more and more "turbulent times": large risks materialize much more often than predicted by "normal" models, financial models periodically go through bubbles and crashes. Moreover, financial risks result from the decisions of economic actors who can have incentives to take excessive risks, especially when their remunerations are ill designed. The book provides a clear account of the fundamental hypotheses underlying the most popular models of risk management and show that these hypotheses are flawed. However it shows that simple models can still be useful, provided they are well understood and used with caution.
Author: Massimo Rostagno Publisher: Oxford University Press ISBN: 0192895915 Category : Business & Economics Languages : en Pages : 449
Book Description
The first twenty years of the European Central Bank offer a unique insight into how a central bank can navigate macroeconomic insecurity and crisis. This volume examines the structures and decision-making processes behind the complex measures taken by the ECB to tackle some of the toughest economic challenges in the history of modern Europe.
Author: Michael D. Bordo Publisher: Cambridge University Press ISBN: 9781108791984 Category : Business & Economics Languages : en Pages : 718
Book Description
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.
Author: Louis-Philippe Rochon Publisher: Edward Elgar Publishing ISBN: 1849807361 Category : Business & Economics Languages : en Pages : 273
Book Description
Has the economic and financial crisis changed the way we conduct monetary policy? Is quantitative easing consistent with the endogeneity of money? These are but two of the questions this new book explores. The various contributors offer interesting and new perspectives on the conduct of monetary policy during the crisis, and provide sharp criticism of central bank policies in the US and Europe. A must read for all those interested in a critical analysis of monetary policy.
Author: Curzio Giannini Publisher: Edward Elgar Publishing ISBN: 0857932144 Category : Business & Economics Languages : en Pages : 329
Book Description
Curzio had one of the most fertile and original minds ever to be deployed on questions relating, first, to the interactions between Central Banks, private sector financial intermediaries and the government, and second to the working of the international monetary system in general, and to the role of the IMF specifically within that. His approach has been to apply a theory of history , which provides a beautifully written and illuminating book, much easier and nicer to read and more rounded than the limited mathematical models that have so monopolised academia in recent decades. From the foreword by Charles A.E. Goodhart Curzio Giannini s history of the evolution of central banks illustrates how the most relevant institutional developments have taken place at times of widespread confidence crises and in response to deflationary pressures. The eminent and highly-renowned author provides an analytical perspective to study the evolution of central banking as an endogenous response to crisis and to the ever increasing needs of economic growth. The key argument of the analysis is that crucial innovations in the payment technology (from the invention of coinage to the development of electronic money) could not have taken place without an institution i.e. the central bank - that could preserve confidence in the instruments used as money. According to Curzio Giannini s neo-institutionalist methodological approach, social institutions are, in fact, essential in the coordination of individual decisions as they minimize transaction costs, overcome information asymmetries and deal with incomplete contracts. This enlightening and revealing historical theory perspective on central banking will prove a thought-provoking read for academic and institutional economists, economic historians, and economic policymakers involved in the task of crafting a new institutional arrangement for central banking in the globalized economy.
Author: Francesco Papadia
Author: Francesco Papadia
Author: W. A. Wijewardena
Author: F. Papadia
Author: Masaaki Shirakawa
Author: Paul Tucker
Author: Gilles Beneplanc
Author: Massimo Rostagno
Author: Michael D. Bordo
Author: Louis-Philippe Rochon
Author: Curzio Giannini