Herrmann / Mayes / Wood Designing Central Banks

Erscheinungsjahr 2009
ISBN: 978-1-135-21435-7
Verlag: CRC Press
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 288 Seiten

Reihe: Routledge International Studies in Money and Banking

The activities of central banks are relevant to everyone in society. This book starts by considering how and why in general central banks evolved and specifically the special aspects of the contribution of the Northern European Central Banking Tradition. With that foundation, the book will then turn to a series of contemporary themes. Firstly, this book looks at independence, how central banks can actually influence their respective economies, goals, responsibilities and governance.

This collection of papers, formulated from the joint conference of the Bank of Finland and the Deutsche Bundesbank in November 2007, will help motivate continuing research into the institutional design of central banks and promote a better understanding of the many challenges central banks are facing today. This volume gives a detailed perspective on the benefits of price stability and central bank independence and, due to the advances in macroeconomic theory, has prompted a substantial rethink on central banks’ institutional design.

With contributions from such scholars as Anne Sibert and Forrest Capie and a foreword by Erkki Liikanen and Professor Axel A. Weber, this volume will be useful reading for monetary economists around the world as well as all those with an interest in central banks and banking more generally.

Autoren/Hrsg.

Herrmann, Heinz

Mayes, David

Wood, Geoffrey E

Fachgebiete

• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Bankwirtschaft
• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein

Inhaltsverzeichnis

Introduction

Forest Capie: Some scattered thoughts from history on evolution and design in central banking

Juha Tarkka: The north European model of early central banking

Comments by Ludger Linnemann

Alex Cukierman: Central bank independence and monetary policy making institutions – past present and future

Comments by Roland Vaubel

Mark Wynne: How should central banks define price stability?

Comments by David Mayes

Georg Rich: A proposal for extracting policy information from the ECB’s second pillar

Comments by Roger Clews

Hans Gersbach and Volker Hahn: Forward guidance for monetary policy: Is it desirable?

Comments by Heinz Herrmann

Michael Ehrmann and Marcel Fratzscher: Designing a central bank communication strategy

Comments by Jakob de Haan

Mathias Person: Achieving financial stability in a world of cross-border institutions

Comments by Geoffrey Wood

What kind of research in central banks? – a panel

Über Autor(innen)

David Mayes is David Mayes is Advisor to the Board of the Bank of Finland in Helsinki.

Geoffrey Wood is Professor of Economics at Cass Business School, UK.