Author : Christopher Adolph
Publisher : Cambridge University Press
Page : 389 pages
File Size : 10,77 MB
Release : 2013-04-15
Category : Business & Economics
ISBN : 110703261X
Adolph illustrates the policy differences between central banks run by former bankers relative to those run by bureaucrats.
Author : Christopher Adolph
Publisher : Cambridge University Press
Page : 389 pages
File Size : 16,92 MB
Release : 2013-04-15
Category : Political Science
ISBN : 1139620533
Most studies of the political economy of money focus on the laws protecting central banks from government interference; this book turns to the overlooked people who actually make monetary policy decisions. Using formal theory and statistical evidence from dozens of central banks across the developed and developing worlds, this book shows that monetary policy agents are not all the same. Molded by specific professional and sectoral backgrounds and driven by career concerns, central bankers with different career trajectories choose predictably different monetary policies. These differences undermine the widespread belief that central bank independence is a neutral solution for macroeconomic management. Instead, through careful selection and retention of central bankers, partisan governments can and do influence monetary policy - preserving a political trade-off between inflation and real economic performance even in an age of legally independent central banks.
Author : Annelise Riles
Publisher : Cornell University Press
Page : 101 pages
File Size : 42,59 MB
Release : 2018-07-15
Category : Political Science
ISBN : 1501732730
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.
Author : Paul Tucker
Publisher : Princeton University Press
Page : 662 pages
File Size : 43,85 MB
Release : 2019-09-10
Category : Business & Economics
ISBN : 0691196303
Tucker presents guiding principles for ensuring that central bankers and other unelected policymakers remain stewards of the common good.
Author : Alan S. Blinder
Publisher : Centre for Economic Policy Research
Page : 150 pages
File Size : 40,67 MB
Release : 2001
Category : Business & Economics
ISBN : 9781898128601
Not long ago, secrecy was the byword in central banking circles, but now the unmistakable trend is towards greater openness and transparency. This, the third Geneva Report on the World Economy, describes and evaluates some of the changes in how central banks talk to the markets, to the press, and to the public. The report first assesses the case for transparency ? defined as providing sufficient information for the public to understand the policy regime ? and concludes that it is very strong, based on both policy effectiveness and democratic accountability. It then examines what should be the content of communication and argues that central banks ought to spell out their long-run objectives and methods. It then investigates the link between the decision-making process and central bank communication, drawing a distinction between individualistic and collegial committees. The report concludes with a review of the communications strategies of some of the main central banks.
Author : Hicham Safieddine
Publisher : Stanford University Press
Page : 332 pages
File Size : 21,84 MB
Release : 2019-07-02
Category : History
ISBN : 1503609685
In 1943, Lebanon gained its formal political independence from France; only after two more decades did the country finally establish a national central bank. Inaugurated on April 1, 1964, the Banque du Liban (BDL) was billed by Lebanese authorities as the nation's primary symbol of economic sovereignty and as the last step towards full independence. In the local press, it was described as a means of projecting state power and enhancing national pride. Yet the history of its founding—stretching from its Ottoman origins in mid-nineteenth century up until the mid-twentieth—tells a different, more complex story. Banking on the State reveals how the financial foundations of Lebanon were shaped by the history of the standardization of economic practices and financial regimes within the decolonizing world. The system of central banking that emerged was the product of a complex interaction of war, economic policies, international financial regimes, post-colonial state-building, global currents of technocratic knowledge, and private business interests. It served rather than challenged the interests of an oligarchy of local bankers. As Hicham Safieddine shows, the set of arrangements that governed the central bank thus was dictated by dynamics of political power and financial profit more than market forces, national interest or economic sovereignty.
Author : Corrado Macchiarelli
Publisher : Springer Nature
Page : 197 pages
File Size : 27,3 MB
Release : 2020-08-25
Category : Political Science
ISBN : 3030443485
In light of the handover from the European Central Bank President Mario Draghi to Christine Lagarde in November 2019, this book provides an in-depth analysis of the events which unfolded since the euro area sovereign debt crisis in 2010 up until today. The book focuses on the far-reaching implications of the last decade, shedding light on a wide spectrum of political, economic and financial aspects of the European poly-crises and how monetary policy reacted to these challenges. The book places particular emphasis on the tensions that the supranational central bank was subject to during this period, and on their outcomes in terms of the policies, their legitimacy, and their public reception. As such, this book will be relevant not only to understand the political implications of the past crisis but also, and foremost, in understanding "what is next".
Author :
Publisher : World Bank Publications
Page : 370 pages
File Size : 41,68 MB
Release : 1995
Category : Business & Economics
ISBN : 9780195211061
Refer review of this policy book in 'Journal of International Development, vol. 10, 7, 1998. pp.841-855.
Author : Charles Goodhart
Publisher : Anthem Press
Page : 292 pages
File Size : 19,67 MB
Release : 2014-12-01
Category : Business & Economics
ISBN : 1783083042
This book reflects on the innovations that central banks have introduced since the 2008 collapse of Lehman Brothers to improve their modes of intervention, regulation and resolution of financial markets and financial institutions. Authors from both academia and policy circles explore these innovations through four approaches: ‘Bank Capital Regulation’ examines the Basel III agreement; ‘Bank Resolution’ focuses on effective regimes for regulating and resolving ailing banks; ‘Central Banking with Collateral-Based Finance’ develops thought on the challenges that market-based finance pose for the conduct of central banking; and ‘Where Next for Central Banking’ examines the trajectory of central banking and its new, central role in sustaining capitalism.
Author : Francois Denord
Publisher : Springer Nature
Page : 276 pages
File Size : 17,35 MB
Release : 2020-08-12
Category : Social Science
ISBN : 3030451755
This open access book describes how elite studies theoretically and methodologically construct their object, i.e. how particular conceptualizations of elites are turned into research practice using different methods for collecting, dealing with and analyzing empirical data. The first of four sections focuses on what Mills named the power elite and includes Bourdieu’s field of power. The second section addresses studies of the domain of economic power, whereas the third section centers on research on elite education. The fourth and last section highlights research on symbolic power, either within social fields or as a dimension of social structure at large, areas where recognition is essential. All sections comprise empirical case studies of elites and power, whereby each of which makes explicit the various methodological choices made in the research process. Through focusing on methodological approaches for the study of elites and power and on how such approaches relate to each other as well as to the theoretical perspectives that underpin them, this book will be a valuable source for social scientists.
