Download or read book Challenges in Central Banking written by Pierre L. Siklos and published by Cambridge University Press. This book was released on 2013-08-22 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changes in the field of central banking over the past two decades have been nothing short of dramatic. Moreover, they have spanned the globe. 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.

Download or read book Challenges for Central Banking written by Luis I. Jacome H. and published by International Monetary Fund. This book was released on 2016-10-04 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the 2008–09 global financial crisis, central banking and monetary policy in many corners of the world came under intense pressure and entered unchartered waters. The breadth and scale of central bank operations have been modified or expanded in unprecedented and even unimaginable ways given the circumstances. Additionally, a fundamental rethinking of central banking and its policy frameworks has been taking place. This volume reflects a multilateral effort to help close the gap in our knowledge in meeting the critical challenges presented by these significant changes, in particular, those confronting central banks in Latin America. The volume’s first section provides a panoramic overview of the policy progress made to date and the challenges that lie ahead. The related issue of spillovers and monetary independence is taken up more fully in the next section. The final section presents chapters that reexamine macroprudential and monetary policies and policy frameworks from the perspective of central bank staff members from the region.

Download or read book Challenges for Central Banking written by Anthony M. Santomero and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: It may be possible to claim that, generally speaking, central banks around the world have never before held such a central and well-respected position in their respective countries as they hold now. Their tasks seem to be reasona bly well defined and the mandate given to them to guarantee price stability has so far worked more successfully than was perhaps expected. Inflation is lower than it has been for a long time. One central bank after the other has been given a position independent of normal party political processes. Re search concerning monetary policy and other topics of relevance for central banking has made good progress during the past decade. Much of the mys tique that has typically surrounded the internal work and decision-making of central banks has gradually disappeared. Instead, openness and transparency have become the key words of the day. The communication channels of central banks; speeches, inflation reports, minutes of meetings, etc. receive considerable attention and often give rise to headlines in the media. The en vironment in which central banks work and act today has thus undergone changes that in my view are very positive. However, we should always be on our guard against complacency. It would be most dangerous for central bankers today to sit back and relax in the belief that all of the important problems have been resolved and need no further consideration. Unless central bankers remain constantly alert and vigilant, their policy-making can easily deteriorate.

Download or read book Excerpt Challenges for Central Banking written by Mr.Yan Carriere-Swallow and published by International Monetary Fund. This book was released on 2016-09-29 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a regional perspective on these challenges by including chapters authored by central bankers from Latin America, as well as IMF experts. The paper also provides a panoramic overview of the policy progress made to date and the challenges that lie ahead for central banks in the region. It places the subject in historical context by looking at how central banks in the region have evolved over the past century and outlines the challenges ahead in a more financially integrated global economy. Since the global financial crisis, central banking has been undergoing a massive renovation. The crisis brought to light fundamental challenges for central bankers in terms of purpose, instruments, and what we hope to achieve. An overarching theme that connects us in both advanced and emerging market economies alike is that of setting monetary policies in an increasingly financially integrated world and addressing the underlying challenges that this presents. Looking forward, concerns have shifted to the challenges of price stability in a world of globally integrated capital markets.

Download or read book Challenges to Central Banking from Globalized Financial Systems written by Ms.Andrea Schaechter and published by International Monetary Fund. This book was released on 2004-03-02 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Increasing global financial market integration is presenting new challenges to central banks as they seek to attain low inflation and financial stability. This volume is based on a conference hosted by the IMF in September 2002. It examines key issues such as the choice of nominal anchor for countries susceptible to shifts in capital flows, what can be done to prevent and deal decisively with financial crises, and how central bankers should think about the difficult choices when monetary objectives and financial stability objectives come into conflict.

Download or read book Challenges in Central Banking written by Pierre L. Siklos and published by Cambridge University Press. This book was released on 2010-04-12 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Central Banking in a Post Pandemic World written by Mustafa Yağcı and published by Taylor & Francis. This book was released on 2023-08-25 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the urgent need to examine central bank policies in response to the global supply and demand shock brought on by the Covid-19 pandemic, asking whether central banks are doing enough to address inequalities and concerns around climate change and emerging technologies. Adopting an interdisciplinary, critical perspective, the contributors to this volume provide novel theoretical, methodological, and empirical insights on central banks around the world, including in advanced, emerging and developing economies. The chapters in this book explore the evolution of central bank mandates, the policy tools central banks are utilizing, why and how monetary policy takes different shapes (including unconventional monetary policy), the key dynamics influencing central bank policies, how central banks are adapting to the new realities and addressing emerging challenges, and how monetary policy is perceived in the wider economic policy framework. With novel theoretical approaches and diverse empirical evidence from a variety of countries, this book will appeal to readers interested in central banking, monetary policy, the economics of the pandemic and political economy.

Download or read book Central Banking in Latin America written by Mr.Luis Ignacio Jácome and published by International Monetary Fund. This book was released on 2015-03-17 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a brief historical journey of central banking in Latin America to shed light on the debate about monetary policy in the post-global financial crisis period. The paper distinguishes three periods in Latin America’s central bank history: the early years, when central banks endorsed the gold standard and coped with the collapse of this monetary system; a second period, in which central banks turned into development banks under the aegis of governments at the expense of increasing inflation; and the “golden years,” when central banks succeeded in preserving price stability in an environment of political independence. The paper concludes by cautioning against overburdening central banks in Latin America with multiple mandates as this could end up undermining their hard-won monetary policy credibility.

Download or read book Challenges in Central Banking written by Pierre L. Siklos and published by . This book was released on 2010 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Changes in the field of central banking over the past two decades have been nothing short of dramatic. Moreover, they have spanned the globe. 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"--Provided by publisher.

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 The Oxford Handbook of Africa and Economics written by Célestin Monga and published by Oxford University Press. This book was released on 2015-07-02 with total page 1010 pages. Available in PDF, EPUB and Kindle. Book excerpt: For a long time, economic research on Africa was not seen as a profitable venture intellectually or professionally-few researchers in top-ranked institutions around the world chose to become experts in the field. This was understandable: the reputation of Africa-centered economic research was not enhanced by the well-known limitations of economic data across the continent. Moreover, development economics itself was not always fashionable, and the broader discipline of economics has had its ups and downs, and has been undergoing a major identity crisis because it failed to predict the Great Recession. Times have changed: many leading researchers-including a few Nobel laureates-have taken the subject of Africa and economics seriously enough to devote their expertise and creativity to it. They have been amply rewarded: the richness, complexities, and subtleties of African societies, civilizations, rationalities, and ways of living, have helped renew the humanities and the social sciences-and economics in particular-to the point that the continent has become the next major intellectual frontier to researchers from around the world. In collecting some of the most authoritative statements about the science of economics and its concepts in the African context, this ^lhandbook (the first of two volumes) opens up the diverse acuity of commentary on exciting topics, and in the process challenges and stimulates the quest for knowledge. Wide-ranging in its scope, themes, language, and approaches, this volume explores, examines, and assesses economic thinking on Africa, and Africa's contribution to the discipline. The editors bring a set of powerful resources to this endeavor, most notably a team of internationally-renowned economists whose diverse viewpoints are complemented by the perspectives of philosophers, political scientists, and anthropologists.

Download or read book Challenges to Central Banking in the Context of Financial Crisis written by Subir Gokarn and published by . This book was released on 2011 with total page 508 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contributed papers presented at the first International Research Conference on "Challenges to Central Banking in the Context of Financial Crisis," organized by Reserve Bank of India on Feb. 12-13, 2010, in Mumbai, India.

Download or read book Central Banking in Latin America written by Mr.Yan Carriere-Swallow and published by International Monetary Fund. This book was released on 2016-09-30 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Latin America’s central banks have made substantial progress towards delivering an environment of price stability that is supportive of sustainable economic growth. We review these achievements, and discuss remaining challenges facing central banking in the region. Where inflation remains high and volatile, achieving durable price stability will require making central banks more independent. Where inflation targeting regimes are well-established, remaining challenges surround assessments of economic slack, the communication of monetary policy, and clarifying the role of the exchange rate. Finally, macroprudential policies must be coordinated with existing objectives, and care taken to preserve the primacy of price stability.

Download or read book Central Banking in a Post pandemic World written by Mustafa Yağcı and published by . This book was released on 2023-09 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book addresses the urgent need to examine central bank policies in response to the global supply and demand shock brought on by the Covid-19 pandemic, asking whether central banks are doing enough to address inequalities and concerns around climate change and emerging technologies. Adopting an interdisciplinary, critical perspective, the contributors to this volume provide novel theoretical, methodological, and empirical insights on central banks around the world, including in advanced, emerging and developing economies. The chapters in this book explore the evolution of central bank mandates, the policy tools central banks are utilizing, why and how monetary policy takes different shapes (including unconventional monetary policy), the key dynamics influencing central bank policies, how central banks are adapting to the new realities and addressing emerging challenges, and how monetary policy is perceived in the wider economic policy framework. With novel theoretical approaches and diverse empirical evidence from a variety of countries, this book will appeal to readers interested in central banking, monetary policy, the economics of the pandemic and political economy"--

Download or read book Banking on the Future written by Howard Davies and published by Princeton University Press. This book was released on 2010-04-12 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: An inside look at the role and future of central banking in the global economy The crash of 2008 revealed that the world's central banks had failed to offset the financial imbalances that led to the crisis, and lacked the tools to respond effectively. What lessons should central banks learn from the experience, and how, in a global financial system, should cooperation between them be enhanced? Banking on the Future provides a fascinating insider's look into how central banks have evolved and why they are critical to the functioning of market economies. The book asks whether, in light of the recent economic fallout, the central banking model needs radical reform. Supported by interviews with leading central bankers from around the world, and informed by the latest academic research, Banking on the Future considers such current issues as the place of asset prices and credit growth in anti-inflation policy, the appropriate role for central banks in banking supervision, the ways in which central banks provide liquidity to markets, the efficiency and cost-effectiveness of central banks, the culture and individuals working in these institutions, as well as the particular issues facing emerging markets and Islamic finance. Howard Davies and David Green set out detailed policy recommendations, including a reformulation of monetary policy, better metrics for financial stability, closer links with regulators, and a stronger emphasis on international cooperation. Exploring a crucial sector of the global economic system, Banking on the Future offers new ideas for restoring financial strength to the foundations of central banking.

Download or read book Challenges at the Bank for International Settlements written by Elmar B. Koch and published by Springer Science & Business Media. This book was released on 2007-10-20 with total page 365 pages. Available in PDF, EPUB and Kindle. Book excerpt: Challenges facing central bankers are expertly examined and analyzed. The book explores monetary policy and financial crisis as well as insolvency, collective action clauses, international mediation, and management of central banks. The author has worked as an economist at the Monetary and Economic Department of the Bank for International Settlements and as an international mediator for the Secretariat of the G10 Ministers and Governors.

Download or read book The Changing Role of Central Banks written by D. Chorafas and published by Springer. This book was released on 2013-09-04 with total page 463 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Changing Role of Central Banks derives lessons from current economic and financial challenges as well as failures in confronting them. Through this approach, it brings under perspective political and social reactions to major economic problems of the last ten years, particularly those pertaining to money and initiatives taken by central banks.