The changing fortunes of central banking

書誌事項

The changing fortunes of central banking

edited by Philipp Hartmann, Haizhou Huang, Dirk Schoenmaker

Cambridge University Press, 2020, c2018

  • : pbk

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注記

Includes bibliographical references and index

"First published 2018. First paperback edition 2020"--T.p. verso

内容説明・目次

内容説明

Understanding the changing role of central banks and their recent novel policies is essential for analysing many economic and financial issues, ranging from financial regulation and crisis, to exchange rate dynamics and regime changes, and QE and prolonged low interest rates. This book features contributions by the world's leading experts on central banking, providing in accessible essays a fascinating review of today's key issues for central banks. Luminaries including Stephen Cecchetti, Takatoshi Ito, Anil Kashyap, Mervyn King, Donald Kohn, Otmar Issing and Hyun Shin are joined by Charles Goodhart of the London School of Economics and Political Science, whose many achievements in the field of central banking are honoured as the inspiration for this book. The Changing Fortunes of Central Banking discusses the developing role of central banks in seeking monetary and financial stabilisation, while also giving suggestions for model strategies. This comprehensive review will appeal to central bankers, financial supervisors and academics.

目次

  • 1. Introduction and overview Philipp Hartmann, Haizhou Huang and Dirk Schoenmaker
  • Part I. Monetary Economics and Policy: 2. Money: how could economists do without it? Mervyn King
  • 3. Monetary control in the UK: the impossible dream? Forrest Capie and Geoffrey Wood
  • 4. Pristine and parsimonious policy: can central banks ever get back to it and why they should try Paul Tucker
  • 5. Central bank talk about future monetary policy: lessons from the crisis and beyond Donald Kohn
  • 6. Bank capital and monetary policy transmission Hyun Song Shin
  • 7. When are central banks more likely to target asset prices? Haizhou Huang
  • Part II. Financial Stability and Regulatory Policy: 8. The macroprudential toolkit Richard Berner
  • 9. Three cooks or three wise men? The interplay between monetary, macroprudential and microprudential policies in supporting financial stability Jose Vinals, Tommaso Mancini-Griffoli and Erlend Nier
  • 10. Liquidity, default and the interaction of financial stability and monetary policy Dimitrios Tsomocos, Udara Peiris and Alexandros Vardoulakis
  • 11. Systemic risk quantification for macroprudential stress testing Miguel Segoviano and Raphael Espinoza
  • 12. What binds? Interactions between bank capital and liquidity regulations Anil Kashyap and Stephen Cecchetti
  • 13. Is burden sharing needed for financial stability? Dirk Schoenmaker
  • Part III. Foreign Exchanges and International Architecture: 14. The case for (and requirements of) monetary unions Charles Wyplosz
  • 15. Machines versus humans: will human forex dealers become extinct? Takatoshi Ito
  • 16. The case for flexible exchange rates revisited Robert Aliber
  • 17. Cross-border banking and monetary independence: difficult partners Marcus Miller
  • 18. International liquidity Philipp Hartmann
  • Part IV. The Millennium Challenges of Central Banks: 19. Overburdened central banks - can independence survive? Ottmar Issing
  • 20. Central banks, national balance sheets and global balance Andrew Sheng
  • 21. Recognising the economy as a complex, adaptive system: implications for central banks William White
  • 22. The changing fortunes of central banking Charles Goodhart.

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