Appointing Central Bankers
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Appointing Central Bankers
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Author : Kelly H. Chang
language : en
Publisher: Cambridge University Press
Release Date : 2003-08-18
Appointing Central Bankers written by Kelly H. Chang and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-08-18 with Juvenile Nonfiction categories.
This book examines monetary policy by focusing on how the President and the Senate influence monetary policy by appointing Fed members. The book attempts to answer three questions about the appointment process and its effects. First, do politicians influence monetary policy via Fed appointments? Second, who influences the process -- the President alone or both the President and the Senate? Third, what explains the structure of the Fed appointment process? The study extends the analysis of the Fed to the European Central bank.
The Future Of Central Banking
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Author : Forrest Capie
language : en
Publisher: Cambridge University Press
Release Date : 1994
The Future Of Central Banking written by Forrest Capie and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Business & Economics categories.
This volume contains two major papers prepared for the Bank of England's Tercentenary Symposium in June 1994. The first, by Forrest Capie, Charles Goodhart and Norbert Schnadt, provides an authoritative account of the evolution of central banking. It traces the development of both the monetary and financial stability concerns of central banks, and includes individual sections on the evolution and constitutional positions of 31 central banks from around the world. The second paper, by Stanley Fischer, explores the major policy dilemmas now facing central bankers: the extent to which there is a short-term trade-off between inflation and growth; the choice of inflation targets; and the choice of operating procedures. Important contributions by leading central bankers from around the world, and the related Per Jacobsen lecture by Alexander Lamfalussy, are also included in the volume.
Crafting Consensus
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Author : Nicole Baerg
language : en
Publisher: Oxford University Press, USA
Release Date : 2020-08-12
Crafting Consensus written by Nicole Baerg and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-08-12 with Business & Economics categories.
In a world dependent on the constant sharing of information, central bankers increasingly communicate their policies to the mass public. Central bank communications are drafted in monetary policy committee meetings composed of policymakers with differing interests. Despite their differences, committee members must come together, write, and agree to an official policy statement. Once released to the public, central bank communications then affect citizens' actions and ultimately, the economy. But how exactly does this work? In Crafting Consensus, Nicole Baerg explains how the transparency of central bank communication depends on the configuration of committee members' preferences. Baerg argues that monetary policy committees composed of members with differing preferences over inflation are better suited to communicating precise information with the public. These diverse committees produce central bank statements of higher quality and less uncertainty than those from more homogeneous committees. Additionally, she argues that higher quality statements more effectively shape individuals' inflation expectations and move the economy in ways that policymakers intend. Baerg demonstrates that central bankers are not impartial technocrats and that their preferences and the institutional rules where they work matter for understanding the politics of monetary policy and variations in economic performance over time. Conducting empirical analysis from historical archival data, textual analysis, machine-learning, survey experiments, and cross-sectional time-series data, Crafting Consensus offers a new theory of committee decision making and a battery of empirical tests to provide a rich understanding of modern-day central banking.
Bankers Bureaucrats And Central Bank Politics
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Author : Christopher Adolph
language : en
Publisher: Cambridge University Press
Release Date : 2013-04-15
Bankers Bureaucrats And Central Bank Politics written by Christopher Adolph and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-04-15 with Political Science categories.
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.
Central Bank Independence
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1991-06-01
Central Bank Independence written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-06-01 with Business & Economics categories.
There has been growing interest recently in the scope for promoting monetary stability through the establishment of independent central banks. This paper reviews the issues involved in central bank independence against the background of arrangements in nine countries. The analysis suggests that detailed institutional arrangements would need to be carefully designed if the potential benefits of central bank independence are to be delivered. Particularly important are the nature of arrangements to resolve various types of conflicts involving monetary policy, and arrangements to promote accountability and public monitoring of monetary policy performance.
Improving The Management Of A Central Bank
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Author : Mr.John Mendzela
language : en
Publisher: International Monetary Fund
Release Date : 1994-04-01
Improving The Management Of A Central Bank written by Mr.John Mendzela and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-04-01 with Business & Economics categories.
This paper examines how major efficiency gains and improved effectiveness were simultaneously achieved at the Reserve Bank of New Zealand over a five-year period. It identifies the business management concepts that were used to transform the organization, outlines how they were applied, and evaluates the benefits obtained. The paper concludes that substantial real efficiency gains were achieved, while effectiveness was maintained or enhanced. Looking more widely, the business management concepts used to achieve these benefits could be applied to other central banks.
Central Bank Independence
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Author : Jan Kleineman
language : en
Publisher: BRILL
Release Date : 2021-10-18
Central Bank Independence written by Jan Kleineman and has been published by BRILL this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-10-18 with Law categories.
In December 1999, prior to the forming of a Stockholm Centre for Commercial Law, an international symposium entitled Central Bank Independence was held at the Department of Law at Stockholm University in co-operation with the Swedish Central Bank (The Riksbank) and Queen Mary and Westfield College, London University. The participants were principally political, economic and legal specialists in the field, all with considerable international experience. This led to the topic being examined in detail from many different perspectives. This publication includes contributions by the participants and contains many important facts for those readers who wish to study and understand the different consequences of the yielding of control over financial policymaking by the traditional political organisations to a body of experts. For readers in some countries, who realise that the subject will revolutionise traditional Constitutional and Administrative Law, the topic and therefore this publication, cannot be ignored.
Measuring Central Bank Independence And Its Effect On Policy Outcomes
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Author : Alex Cukierman
language : en
Publisher:
Release Date : 1994
Measuring Central Bank Independence And Its Effect On Policy Outcomes written by Alex Cukierman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Business & Economics categories.
Central Banking Technical Assistance To Countries In Transition
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Author : Ms.Susana Almuina
language : en
Publisher: International Monetary Fund
Release Date : 1995-12-15
Central Banking Technical Assistance To Countries In Transition written by Ms.Susana Almuina and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-12-15 with Business & Economics categories.
This book, edited by J.B. Zulu, Ian S. McCarthy, Susana Almuiña, and Gabriel Sensenbrenner, presents the proceedings of the special Joint Meetings on Central Banking Technical Assistance held in St. Petersburg, Russia in 1994, and provides detailed information on important issues in central banking, including a comparative sample of 31 countries. The arrangements concerning such issues as the size and composition of the policymaking board, the role of the central bank in monetary and exchange rate policy, resolution of conflict between the central bank and the government, public accountability, relations with the markets, and credit to the government are reviewed.
Gatekeepers Of Growth
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Author : Sylvia Maxfield
language : en
Publisher: Princeton University Press
Release Date : 1998-07-13
Gatekeepers Of Growth written by Sylvia Maxfield and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-07-13 with Business & Economics categories.
Central banks can shape economic growth, affect income distribution, influence a country's foreign relations, and determine the extent of its democracy. While there is considerable literature on the political economy of central banking in OECD countries, this is the first book-length study focused on central banking in emerging market countries. Surveying the dramatic worldwide trend toward increased central bank independence in the 1990s, the book argues that global forces must be at work. These forces, the book contends, center on the character of international financial intermediation. Going beyond an explanation of central bank independence, Sylvia Maxfield posits a general framework for analyzing the impact of different types of international capital flows on the politics of economic policymaking in developing countries. The book suggests that central bank independence in emerging market countries does not spring from law but rather from politics. As long as politicians value them, central banks will enjoy independence. Central banks are most likely to be independent in developing countries when politicians desire international creditworthiness. Historical analyses of central banks in Brazil, Mexico, South Korea, and Thailand, and quantitative analyses of a larger sample of developing countries corroborate this investor signaling explanation of broad trends in central bank status.