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Who Elected The Bankers

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Who Elected The Bankers

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Author : Louis W. Pauly
language : en
Publisher: Cornell University Press
Release Date : 2018-09-05

Who Elected The Bankers written by Louis W. Pauly and has been published by Cornell University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-09-05 with Political Science categories.

A former banker and staff member of the International Monetary Fund, Louis W. Pauly explains why people are deeply concerned about the emergence of a global economy and the increasingly integrated capital markets at its heart. In nations as diverse as France, Canada, Russia, and Mexico, the lives of citizens are disrupted when national policy falls out of line with the expectations of international financiers. Such dilemmas, ever more conspicuous around the world, arise from the disjuncture between a rapidly changing international economic system and a political order still constituted by sovereign states. The evolution of global capital markets inspires an understandable fear among people that the governing authorities accountable to them are losing the power to make substantive decisions affecting their own material prospects and those of their children. Pauly points out that today's capital markets resulted from decisions taken over many years by sovereign states, and particularly by the leading industrial democracies, who simultaneously crafted the instrument of multilateral economic surveillance. The effort to build adequate political foundations for global capital markets spans the twentieth century and links the histories of such institutions as the League of Nations, the International Monetary Fund, the European Union, and the Group of Seven.

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 Political Science categories.

This book examines monetary policy by focusing on how the President and the Senate influence monetary policy by appointing Federal Reserve members. It attempts to answer three questions about the appointment process and its effects. First, do politicians influence monetary policy through Federal Reserve appointments? Second, who influences the process - the President alone or both the President and the Senate? Third, what explains the structure of the Federal Reserve appointment process? The test models show that the President alone, both the President and Senate, or neither, may influence monetary policy with Federal Reserve appointments. The structure of the process reflects political battles between the Democrats and Republicans regarding the centralization of authority to set monetary policy within the Federal Reserve System. The study extends the analysis to the European Central Bank and shows that the Federal Reserve process is more representative of society than the European Central Bank process.

Fragile By Design

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Author : Charles W. Calomiris
language : en
Publisher: Princeton University Press
Release Date : 2015-08-04

Fragile By Design written by Charles W. Calomiris 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 2015-08-04 with Business & Economics categories.

Why stable banking systems are so rare Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.

The Bankers Magazine And Journal Of The Money Market

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Author :
language : en
Publisher:
Release Date : 1863

The Bankers Magazine And Journal Of The Money Market written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1863 with Banks and banking categories.

Learning From The World S Best Central Bankers

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Author : George M. von Furstenberg
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-12-01

Learning From The World S Best Central Bankers written by George M. von Furstenberg and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-01 with Business & Economics categories.

BURTON G. MALKIEL Chemical Bank Chairman's Professor of Economics Princeton University Central bankers have often believed that they are the Rodney Dangerfields of public officials-they seldom receive respect from the public or from elected officials. Particularly in the days of high infla tion and substantial unemployment, they were held responsible for everything that ailed the world's economies. And monetarists often suggested that nations would be far better off if central bankers were replaced by robots who would do nothing more than ensure that the money supply was increased at a fixed percent each year. Our views have changed considerably over the past two decades. The main reason is that, thanks in substantial part to the efforts of central bankers, inflation has generally been contained. With the re duction in inflation and the recent relative stability of price levels in most developed nations, risk premiums have tended to decline sharply. Moreover, unemployment rates, at least in the Western Hemisphere, have decreased substantially. Finally, even many economists who con sider themselves monetarists now tend to be less certain of the stabil ity of the link between the money supply and economic activity. Thus, there is greater appreciation of the critical role of judgment in the conduct of monetary policy and a general belief that the judgments central bankers have made have generally been sound.

The Alchemists

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Author : Neil Irwin
language : en
Publisher:
Release Date : 2013

The Alchemists written by Neil Irwin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Banks and banking, Central categories.

"When the first rumblings of the coming financial crisis were heard in August 2007, three men who were never elected to public office suddenly became the most powerful men in the world. They were the leaders of the world's three most important central banks: Ben Bernanke of the U.S. Federal Reserve, Mervyn King of the Bank of England, and Jean-Claude Trichet of the European Central Bank. Over the next five years, they and their fellow central bankers deployed trillions of dollars, pounds and euros to try and contain the waves of panic that threatened to bring down the global financial system. Neil Irwin's The Alchemists is both a gripping account of the most intense exercise in economic crisis management we've ever seen, and an insightful examination of the role and power of the central bank. It begins in Stockholm, Sweden, in the seventeenth century, where central banking had its rocky birth, and then progresses through a brisk but dazzling tutorial on how the central banker came to exert such vast influence over our world. It is the story of how these figures and institutions became what they are - the possessors of extraordinary power over our collective fate. What they chose to do with those powers is the heart of the story Irwin tells. Irwin covered the financial crisis for the Washington Post, enjoying privileged access to leading central bankers and the people close to them. His account, based on reporting that took place in 27 cities in 11 countries, is the holistic, truly global story of the central bankers' role in the world economy we have been missing. It is a landmark reckoning with central bankers and their power, with the great financial crisis of our time, and with the history of the relationship between capitalism and the state. Definitive, revelatory, and riveting, The Alchemists shows us where money comes from--and where it may well be going."--Publisher's description.

Unelected Power

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Author : Paul Tucker
language : en
Publisher: Princeton University Press
Release Date : 2019-09-10

Unelected Power written by Paul Tucker 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 2019-09-10 with Business & Economics categories.

Tucker presents guiding principles for ensuring that central bankers and other unelected policymakers remain stewards of the common good.