Banca Centrale

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The Central Bank And The Financial System

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Author : Charles Albert Eric Goodhart
language : en
Publisher: MIT Press
Release Date : 1995

The Central Bank And The Financial System written by Charles Albert Eric Goodhart and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Business & Economics categories.

As economic advisor to the Bank of England for many years, C. A. E. Goodhart is uniquely positioned to assess the role of the central bank in the modern financial system. This book brings together twenty-one of his previously published articles dealing with the changing functions of central banks over time, recent efforts to maintain price stability, and debates over specific financial regulation proposals in the UK. Although the current day-to-day operations of central banks are subject to continuous comment and frequent criticism, their structural role within the economic system as a whole has generally been accepted without much question, despite several attempts by economists in recent decades to challenge the value of the institution. C. A. E. Goodhart brings his knowledge of both the theoretical arguments and the actual working of central banks to bear in these essays. Part I looks at the general purposes and functions of central banks within the financial system and their evolution over time. Part II concentrates on the current objectives and operations of central banks, and the maintenance of price stability in particular. Part III analyzes the broader issues of financial regulation.

Central Banking In A Post Pandemic World

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Author : Mustafa Yağcı
language : en
Publisher: Taylor & Francis
Release Date : 2023-08-25

Central Banking In A Post Pandemic World written by Mustafa Yağcı and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-25 with Business & Economics categories.

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.

Monetary Policy Implementation

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Author : Angelo Baglioni
language : en
Publisher: Springer Nature
Release Date :

Monetary Policy Implementation written by Angelo Baglioni and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.

Central Bank Digital Currency

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Author : Leo Kriese
language : en
Publisher: Springer Nature
Release Date : 2023-12-02

Central Bank Digital Currency written by Leo Kriese and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-12-02 with Law categories.

This book offers a deeper understanding of digitisation and innovative technologies in the financial sector. It focuses on a digital version of sovereignly created money that is accessible to the broad public. This central bank digital currency (CBDC) raises several questions. Will CBDC lead to public surveillance of the citizens? What is digital money in the legal sense? And what is the difference to already existing forms of digital money? This book addresses main questions associated with central bank digital currency by providing background information as well as in-depth analyses. The book introduces a basic understanding of innovative technologies such as the distributed ledger technology. It shows how a system of money can be created and what roles each participant has. Taking an economic point of view, the book demonstrates the monetary policy in the euro area and examines how a digital version of public money could affect the transmission mechanism as well as the financial stability. Could CBDC lead to a "digital bank run"? Could it replace the established financial intermediaries such as banks? What would that mean to the economy? Mainly, the book focuses on the legal issues of CBDC. Which is the competent institution for establishing digital public money? Will digital money change the way of how we handle financial data? Also, the book examines the legal usability of CBDC in the economy. How can digital money based on innovative technologies be transferred in accordance with the law? Can a debtor of a monetary claim flee into the digital currency? This book addresses the public and private sector participants as well as the legislators on how to handle CBDC. Most important, the book addresses everyone interested in digitisation and innovative financial technology who wants to gain a deeper understanding of the next big evolvement of money.

Foundations Of European Central Bank Policy

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Author : Wolfgang Gebauer
language : en
Publisher:
Release Date : 1993

Foundations Of European Central Bank Policy written by Wolfgang Gebauer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Business & Economics categories.

European central bank policy is already taking place today in an informal way. It comprises, in short, European exchange rate management and interest rate policy decisions within and without the European Monetary System (EMS). A focal point of such policy actions are the money market operating targets of European Central Banks. Those central bank policies appear to be dominated, however, by the Deutsche Bundesbank. This has caused recurring critical discussion of European asymmetries and German leadership in monetary stabilization pOlicies, before and after the EMS turbulences of September 1992. However, it should be pointed out that German dominance has increasingly evolved in a cooperative way, ever since the Committee of European Central Bank Governors began to meet regularly in 1964; the Basle-Nyborg accord of 1987 formed a further stage of cooperative efforts within the EMS. Presently, a small group of countries (including Benelux and Austria) generally follows, after prior 'concertation', German monetary policy patterns. In this narrow sense, there exists a European central bank policy within a "Deutsche-Mark-Zone". In a broader sense, European central bank policy is shaped, after proper consultation, by monetary cooperation between the larger EMS countries, but once again dominantly influenced by Germany; recent problems of highjnterest rates in France and elsewhere due to (relative) restrictive German monetary pOlicies are striking examples. German monetary dominance, in the narrow or broad sense, obviously creates, in the long-run, an untenable situation in the eyes of European partner countries.

Central Banking 101

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Author : Joseph Wang
language : en
Publisher: Joseph Wang
Release Date : 2020-01-18

Central Banking 101 written by Joseph Wang and has been published by Joseph Wang this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-18 with Business & Economics categories.

Central banking is magic. With a few words, the Fed can lift the stock market out of desperation and catapult it towards euphoric highs. With a few keystrokes, the Fed can conjure up trillions of dollars and fund virtually unlimited Federal spending. And with a few poor decisions, the Fed can plunge the entire world into a recession. The Federal Reserve is one of the most powerful institutions in the world, and also one of the most difficult to understand. The Fed acts through its Open Markets Desk, which sits at the heart of the global financial system as the world’s ultimate and limitless provider of dollars. On behalf of policy makers, the Desk gathers market intelligence from all the major market participants, sifts through reams of internal data, and works behind the scenes keep the financial system intact. It is responsible for all of the Fed's market operations, from trillions in quantitative easing to hundreds of billions in repo and FX-swap loans. The financial crises of 2008 and 2020 abated only through the emergency interventions of the Desk. Joseph Wang spent five years studying the monetary system as a trader on the Desk. From that vantage point, Joseph saw firsthand how the Fed operates and how the financial system really works. This book is a distillation of his experience that aims to educate and demystify. After reading this book, you will understand how money is created, how the global dollar system is structured, and how it all fits into the broader financial system. The views in this book do not necessarily reflect those of the Federal Reserve Bank of New York or the Federal Reserve System.

Market Information And Signaling In Central Bank Operations Or How Often Should A Central Bank Intervene

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1997-03-01

Market Information And Signaling In Central Bank Operations Or How Often Should A Central Bank Intervene 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 1997-03-01 with Business & Economics categories.

A central bank must decide on the frequency with which it will conduct open market operations and the variability in short-term money market that it will allow. It is shown how the optimal operating procedure balances the value of attaining an immediate target and broadcasting the central bank’s intentions against the informational advantages to the central bank of allowing the free play of market forces to reveal more of the information available to market participants.

How A Ledger Became A Central Bank

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Author : Stephen Quinn
language : en
Publisher: Cambridge University Press
Release Date : 2023-11-30

How A Ledger Became A Central Bank written by Stephen Quinn 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 2023-11-30 with Business & Economics categories.

Before the US Federal Reserve and the Bank of England, the Bank of Amsterdam ('Bank') was a dominant central bank with a global impact on money and credit. How a Ledger Became a Central Bank draws on extensive archival data and rich secondary literature, to offer a new and detailed portrait of this historically significant institution. It describes how the Bank struggled to manage its money before hitting a modern solution: fiat money in combination with a repurchase facility and discretionary open market operations. It describes techniques the Bank used to monitor and stabilize money stock, and how foreign sovereigns could exploit the liquidity of the Bank for state finance. Closing with a discussion of commonalities of the Bank of Amsterdam with later central banks, including the Federal Reserve, this book has generated a great deal of excitement among scholars of central banking and the role of money in the macroeconomy.

The Long Journey Of Central Bank Communication

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Author : Otmar Issing
language : en
Publisher: MIT Press
Release Date : 2019-10-01

The Long Journey Of Central Bank Communication written by Otmar Issing and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-01 with Business & Economics categories.

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.

The European Central Bank Between The Financial Crisis And Populisms

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Author : Corrado Macchiarelli
language : en
Publisher: Springer Nature
Release Date : 2020-08-25

The European Central Bank Between The Financial Crisis And Populisms written by Corrado Macchiarelli and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-08-25 with Political Science categories.

​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".