Download or read book Making a Modern Central Bank written by Harold James and published by Cambridge University Press. This book was released on 2020-09-17 with total page 569 pages. Available in PDF, EPUB and Kindle. Book excerpt: This authoritative guide to the transformation of the Bank of England into a modern inflation-targeting independent central bank examines a revolution in monetary and economic policy and the modernization of British institutions in the late twentieth century.
Download or read book Central Bank Ratings written by Indranarain Ramlall and published by Springer. This book was released on 2015-12-08 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: When the global financial crisis broke, central banks in both the US and the UK undertook massive asset purchase programmes which resulted in considerable increase in assets. Cross-border spillover effects were noted across global economies. Balance sheet adjustments may eventually gnaw at the profit-earning capacities of central banks, and in extreme cases, negative equity can manifest. This study investigates a benchmark for comparing central banks. The author employs a unique and large set of metrics to gauge the quality of central banks and presents an argument to reflect upon international best practices. The study uses different criteria including the accounting body, research, presence of stress-testing exercises, inflation-targeting frameworks, staff efficiency, and languages of communication with the public, amongst others. The book begins by providing an overview of central banking, before exploring some stylized facts about central banks in unique detail. It then presents a ratings methodology for worldwide central banks to analyse the results. A backtesting exercise is included to validate the quality of the ratings obtained. The book concludes by offering insights into the comparison of central banks.
Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Central Banking 101 written by Joseph Wang and published by Joseph Wang. This book was released on 2020-01-18 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central banking is magic. With a few words, the Fed can lift the stock market out of desperation and catapult it towards euphoric highs. With a few keystrokes, the Fed can conjure up trillions of dollars and fund virtually unlimited Federal spending. And with a few poor decisions, the Fed can plunge the entire world into a recession. The Federal Reserve is one of the most powerful institutions in the world, and also one of the most difficult to understand. The Fed acts through its Open Markets Desk, which sits at the heart of the global financial system as the world’s ultimate and limitless provider of dollars. On behalf of policy makers, the Desk gathers market intelligence from all the major market participants, sifts through reams of internal data, and works behind the scenes keep the financial system intact. It is responsible for all of the Fed's market operations, from trillions in quantitative easing to hundreds of billions in repo and FX-swap loans. The financial crises of 2008 and 2020 abated only through the emergency interventions of the Desk. Joseph Wang spent five years studying the monetary system as a trader on the Desk. From that vantage point, Joseph saw firsthand how the Fed operates and how the financial system really works. This book is a distillation of his experience that aims to educate and demystify. After reading this book, you will understand how money is created, how the global dollar system is structured, and how it all fits into the broader financial system. The views in this book do not necessarily reflect those of the Federal Reserve Bank of New York or the Federal Reserve System.
Download or read book Central Bank Policy written by Perry Warjiyo and published by Emerald Group Publishing. This book was released on 2019-07-25 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central Bank Policy: Theory and Practice analyses various policies, theories and practices adopted by central banks, as well as the institutional arrangements underlying the principles of good governance in policy-making. It is the first book to comprehensively discuss the latest theories and practices of central bank policy.
Download or read book Unelected Power written by Paul Tucker and published by Princeton University Press. This book was released on 2019-09-10 with total page 662 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tucker presents guiding principles for ensuring that central bankers and other unelected policymakers remain stewards of the common good.
Download or read book Do Central Banks Need Capital written by Mr.Peter Stella and published by International Monetary Fund. This book was released on 1997-07-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central banks may operate perfectly well without capital as conventionally defined. A large negative net worth, however, is likely to compromise central bank independence and interfere with its ability to attain policy objectives. If society values an independent central bank capable of effectively implementing monetary policy, recapitalization may become essential. Proper accounting practice in determining central bank profit or loss and rules governing the transfer of the central bank’s operating result to the treasury are also important. A variety of country-specific central bank practices are reviewed to support the argument.
Download or read book The Long Journey of Central Bank Communication written by Otmar Issing and published by MIT Press. This book was released on 2019-09-24 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: A leading economist and former central banker discusses the evolution of central bank communication from secretiveness to transparency and accountability. Central bank communication has evolved from secretiveness to transparency and accountability—from a reluctance to give out any information at all to the belief in communication as a panacea for effective policy. In this book, Otmar Issing, himself a former central banker, discusses the journey toward transparency in central bank communication. Issing traces the development of transparency, examining the Bank of England as an example of extreme reticence and European Central Bank's President Mario Draghi as a practitioner of effective communication. He argues that the ultimate goal of central bank communication is to make monetary policy more effective, and describes the practice and theory of communication as an evolutionary process. For a long time, the Federal Reserve never made its monetary policy decisions public; the European Central Bank, on the other hand, had to adopt a modern communication strategy from the outset. Issing discusses the importance of guiding expectations in central bank communication, and points to financial markets as the most important recipients of this communication. He discusses the obligations of accountability and transparency, although he notes that total transparency is a “mirage.” Issing argues that the central message to the public must always be that the stability of a nation's currency is the bank's priority.
Download or read book Monetary Policy in Times of Crisis written by Massimo Rostagno and published by Oxford University Press. This book was released on 2021 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Quarterly Review written by and published by . This book was released on 1992 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Citizenship written by Annelise Riles and published by Cornell University Press. This book was released on 2018-07-15 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: Government bailouts; negative interest rates and markets that do not behave as economic models tell us they should; new populist and nationalist movements that target central banks and central bankers as a source of popular malaise; new regional organizations and geopolitical alignments laying claim to authority over the global economy; households, consumers, and workers facing increasingly intolerable levels of inequality: These dramatic conditions seem to cry out for new ways of understanding the purposes, roles, and challenges of central banks and financial governance more generally. Financial Citizenship reveals that the conflicts about who gets to decide how central banks do all these things, and about whether central banks are acting in everyone’s interest when they do them, are in large part the product of a culture clash between experts and the various global publics that have a stake in what central banks do. Experts—central bankers, regulators, market insiders, and their academic supporters—are a special community, a cultural group apart from many of the communities that make up the public at large. When the gulf between the culture of those who govern and the cultures of the governed becomes unmanageable, the result is a legitimacy crisis. This book is a call to action for all of us—experts and publics alike—to address this legitimacy crisis head on, for our economies and our democracies.
Download or read book FDIC Banking Review written by and published by . This book was released on 2000 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Collateral Frameworks written by Kjell G. Nyborg and published by Cambridge University Press. This book was released on 2017 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first book-length study of the importance of collateral frameworks in monetary policy, focusing on the Eurozone and euro crisis.
Download or read book Monetary Operations and Central Bank Balance Sheets in a World of Limited Government Securities written by Mr.Mark Zelmer and published by International Monetary Fund. This book was released on 2001-12-01 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: The limited supply of government securities in some industrial countries has important ramifications for the operating techniques used by central banks to implement monetary policy, provide credit to the financial sector, and also for the assets they hold on their balance sheets. The paper reviews the salient facts regarding industrial central bank balance sheets and operating techniques, and outlines different options for dealing with a limited supply of government securities. The main conclusion is that central banks may wish to consider extending credit using a broad range of assets as collateral, and engage in outright transactions of securities guaranteed by financial institutions.
Download or read book Should Unconventional Balance Sheet Policies Be Added to the Central Bank toolkit a Review of the Experience so Far written by Mr.Mark R. Stone and published by International Monetary Fund. This book was released on 2011-06-01 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is the case for adding the unconventional balance sheet policies used by major central banks since 2007 to the standard policy toolkit? The record so far suggests that the new liquidity providing policies in support of financial stability generally warrant inclusion. As the balance sheet policies aimed at macroeconomic stability were used only by a small number of highly credible central banks facing a lower bound constraint on conventional interest rate policy, they are not relevant for most central banks or states of the world. Best practices of these policies are documented in this paper.
Download or read book The Power and Independence of the Federal Reserve written by Peter Conti-Brown and published by Princeton University Press. This book was released on 2017-10-10 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth look at the history, leadership, and structure of the Federal Reserve Bank The independence of the Federal Reserve is considered a cornerstone of its identity, crucial for keeping monetary policy decisions free of electoral politics. But do we really understand what is meant by "Federal Reserve independence"? Using scores of examples from the Fed's rich history, The Power and Independence of the Federal Reserve shows that much common wisdom about the nation's central bank is inaccurate. Legal scholar and financial historian Peter Conti-Brown provides an in-depth look at the Fed's place in government, its internal governance structure, and its relationships to such individuals and groups as the president, Congress, economists, and bankers. Exploring how the Fed regulates the global economy and handles its own internal politics, and how the law does—and does not—define the Fed's power, Conti-Brown captures and clarifies the central bank's defining complexities. He examines the foundations of the Federal Reserve Act of 1913, which established a system of central banks, and the ways that subsequent generations have redefined the organization. Challenging the notion that the Fed Chair controls the organization as an all-powerful technocrat, he explains how institutions and individuals—within and outside of government—shape Fed policy. Conti-Brown demonstrates that the evolving mission of the Fed—including systemic risk regulation, wider bank supervision, and as a guardian against inflation and deflation—requires a reevaluation of the very way the nation's central bank is structured. Investigating how the Fed influences and is influenced by ideologies, personalities, law, and history, The Power and Independence of the Federal Reserve offers a uniquely clear and timely picture of one of the most important institutions in the United States and the world.
Download or read book Central Bank Ratings written by Indranarain Ramlall and published by Springer Nature. This book was released on 2022-07-01 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: When the global financial crisis broke, central banks in both the US and the UK undertook massive asset purchase programmes which resulted in considerable increase in assets. Cross-border spillover effects were noted across global economies. Balance sheet adjustments may eventually gnaw at the profit-earning capacities of central banks, and in extreme cases, negative equity can manifest. This updated book investigates a benchmark for comparing central banks. The author employs a unique and large set of metrics to gauge the quality of central banks and presents an argument to reflect upon international best practices covering 124 banks in this latest study. The study uses different criteria including the accounting body, research, presence of stress-testing exercises, inflation-targeting frameworks, staff efficiency, and languages of communication with the public, amongst others. The book begins by providing an overview of central banking, before exploring some stylized facts about central banks in unique detail. It then presents a ratings methodology for worldwide central banks to analyse the results. A backtesting exercise is included to validate the quality of the ratings obtained. The book concludes by offering insights into the comparison of central banks.
