Challenges in central banking : the current institutional environment and forces affecting monetary policy
Author(s)
Bibliographic Information
Challenges in central banking : the current institutional environment and forces affecting monetary policy
Cambridge University Press, 2013
- : pbk
Available at 1 libraries
  Aomori
  Iwate
  Miyagi
  Akita
  Yamagata
  Fukushima
  Ibaraki
  Tochigi
  Gunma
  Saitama
  Chiba
  Tokyo
  Kanagawa
  Niigata
  Toyama
  Ishikawa
  Fukui
  Yamanashi
  Nagano
  Gifu
  Shizuoka
  Aichi
  Mie
  Shiga
  Kyoto
  Osaka
  Hyogo
  Nara
  Wakayama
  Tottori
  Shimane
  Okayama
  Hiroshima
  Yamaguchi
  Tokushima
  Kagawa
  Ehime
  Kochi
  Fukuoka
  Saga
  Nagasaki
  Kumamoto
  Oita
  Miyazaki
  Kagoshima
  Okinawa
  Korea
  China
  Thailand
  United Kingdom
  Germany
  Switzerland
  France
  Belgium
  Netherlands
  Sweden
  Norway
  United States of America
Note
"First published 2010"--T.p.verso
Includes bibliographical references and index
Description and Table of Contents
Description
Changes in the field of central banking over the past two decades have been nothing short of dramatic. They include the importance of central bank autonomy, the desirability of low and stable inflation, and the vital role played by how central banks communicate their views and intentions to the markets and the public more generally. There remains considerable diversity nevertheless in the institutional framework affecting central banks, the manner in which the stance of monetary policy is determined and assessed, and the forces that dictate the conduct of monetary policy more generally. The global financial crisis, which began in the United States in 2007, only serves to highlight further the importance of central bank policies. The aim of this volume is to take stock of where we are in the realm of the practice of central banking and considers some of the implications arising from the ongoing crisis.
Table of Contents
- 1. The state of play in central banking and the challenges to come Pierre L. Siklos, Martin T. Bohl and Mark E. Wohar
- Part I. Past, Present, and Future in the Conduct of Monetary Policy: 2. Is time ripe for price level path stability? Vitor Gaspar, Frank Smets and David Vestin
- 3. The principal-agent approach to monetary policy delegation Georgios E. Chortareas and Stephen M. Miller
- 4. Implementing monetary policy in the 2000s: operating procedures in Asia and beyond Corrinne Ho
- Part II. The Scope of Central Banking Operations and Central Bank Independence: 5. Analysis of financial stability Charles A. E. Goodhart and D. P. Tsomocos
- 6. National central banks in a multi-national system David G. Mayes and Geoffrey E. Wood
- 7. The complex relationship between central bank independence and inflation Bernd Hayo and Carsten Hefeker
- 8. Independence and accountability in supervision: comparing central banks and financial authorities Donato Masciandaro, Marc Quintyn and Michael W. Taylor
- Part III. Transparency and Governance in Central Banking: 9. The economic impact of central bank transparency: a survey Carin van der Cruijsen and Sylvester C. W. Eijffinger
- 10. How central banks take decisions: an analysis of monetary policy meetings Philip Maier
- 11. Institutional rules and the conduct of monetary policy: does a central bank need governing principles? Pierre L. Siklos
- Data and econometric specification
- Empirical evidence
- Conclusions.
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