Author : Jakob De Haan
Publisher : Taylor & Francis
Page : 177 pages
File Size : 44,80 MB
Release : 2012-09-10
Category : Business & Economics
ISBN : 1134604149
After fifty years the Deutsche Bundesbank - the central bank that dominated European monetary affairs - has stepped down to entrust monetary policy to the European Central Bank (ECB). This is the first research work to thoroughly explore the lessons to be learned from the Bundesbank by the ECB, in areas such as price stability and political interference.
Author : Simon Mee
Publisher : Cambridge University Press
Page : 371 pages
File Size : 33,31 MB
Release : 2021-05-20
Category : Business & Economics
ISBN : 9781108731300
The 2008 financial crisis led to more and more frequent political attacks on central banks. The recent spotlight on central bank independence is reminiscent of the fiery debates amongst Germany's political elites in 1949 on the same issue; debates that were sparked by the establishment of West Germany in that year. Simon Mee shows how, with the establishment of West Germany's central bank - today's Deutsche Bundesbank - the country's monetary history became a political football, as central bankers, politicians, industrialists and trade unionists all vied for influence over the legal provisions that set out the remit of the future monetary authority. The author reveals how a specific version of inter-war history, one that stresses the lessons learned from Germany's periods of inflation, was weaponised and attached to a political, contemporary argument for an independent central bank. The book challenges assumptions around the evolution of central bank independence with continued relevance today.
Author : Jakob De Haan
Publisher : Routledge
Page : 180 pages
File Size : 39,18 MB
Release : 2012-09-10
Category : Business & Economics
ISBN : 1134604130
After fifty years the Deutsche Bundesbank - the central bank that dominated European monetary affairs - has stepped down to entrust monetary policy to the European Central Bank (ECB). This is the first research work to thoroughly explore the lessons to be learned from the Bundesbank by the ECB, in areas such as price stability and political interference.
Author : Jakob De Haan
Publisher : MIT Press
Page : 277 pages
File Size : 29,41 MB
Release : 2005-04-15
Category : Business & Economics
ISBN : 0262262452
An examination of the debates on European Central Bank monetary policy, focusing on issues of transparency, credibility, and accountability and the effect of the ECB's decentralized structure. The adoption of the euro in 1999 by 11 member states of the European Union created a single currency area second in economic size only to the United States. The euro zone's monetary policy is now set by the European Central Bank (ECB) and its Governing Council rather than by individual national central banks. This CESifo volume examines issues that have arisen in the first years of ECB monetary policy and analyzes the effect that current ECB policy strategy and structures may have in the future. After a detailed description and assessment of ECB monetary policy making that focuses on such issues as price stability and the predictability of policy decisions, the book turns to two important issues faced by European central bankers: the transparency and credibility of decision making and the ECB's decentralized structure. After showing that transparency in decision making enhances credibility, the book discusses the ECB's efforts at openness, its political independence as guaranteed by law, and its ultimate accountability. The book then considers the effects of the decentralized ECB structure, focusing on business cycle synchronization, inflation differentials, and differences in monetary policy transmission in light of the enlargement of the monetary union. The book also discusses options for ECB institutional reforms, including centralization, vote weighting, and cross-border regional banks.
Author : David Marsh
Publisher : Vintage
Page : 430 pages
File Size : 39,30 MB
Release : 1993
Category : Banks and banking
ISBN :
The might of the D-Mark gives the Bundesbank greater influence than most elected governments over monetary policies across Europe. In bringing to life the central bank and the people who run it, Marsh reveals its history, and present-day, behind-the-scenes arguments over European monetary union.
Author : Hanspeter K. Scheller
Publisher :
Page : 229 pages
File Size : 34,55 MB
Release : 2006
Category : Banks and banking, Central
ISBN : 9789289900270
Comprehensive 200-page overview of the ECB from its inception in June 1998 until the present day.
Author : Otmar Issing
Publisher : MIT Press
Page : 103 pages
File Size : 16,61 MB
Release : 2019-09-24
Category : Business & Economics
ISBN : 0262537850
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.
Author : Richard Werner
Publisher : Routledge
Page : 384 pages
File Size : 50,77 MB
Release : 2015-03-04
Category : Education
ISBN : 131746219X
This eye-opening book offers a disturbing new look at Japan's post-war economy and the key factors that shaped it. It gives special emphasis to the 1980s and 1990s when Japan's economy experienced vast swings in activity. According to the author, the most recent upheaval in the Japanese economy is the result of the policies of a central bank less concerned with stimulating the economy than with its own turf battles and its ideological agenda to change Japan's economic structure. The book combines new historical research with an in-depth behind-the-scenes account of the bureaucratic competition between Japan's most important institutions: the Ministry of Finance and the Bank of Japan. Drawing on new economic data and first-hand eyewitness accounts, it reveals little known monetary policy tools at the core of Japan's business cycle, identifies the key figures behind Japan's economy, and discusses their agenda. The book also highlights the implications for the rest of the world, and raises important questions about the concentration of power within central banks.
Author : Ulrich Bindseil
Publisher :
Page : 337 pages
File Size : 47,15 MB
Release : 2019
Category : Business & Economics
ISBN : 0198849990
Central banking has a long and colourful history from which important lessons can be drawn. This book reviews the policy objectives and financial operations of 25 central banks established before 1800 to show that many of today's central banking controversies date as far back as this time.
Author : Manfred Pohl
Publisher : Edward Elgar Publishing
Page : 1334 pages
File Size : 16,88 MB
Release : 1994-01-01
Category : Business & Economics
ISBN : 9781781954218
Analyse: Banque cantonale vaudoise: p. 1072-1078.
