Challenges in central banking : the current institutional environment and forces affecting monetary policy / edited by Pierre L. Siklos, Martin T. Bohl, Mark E. Wohar.

Format:

Book

Contributor:

Siklos, Pierre L., 1955-

Bohl, Martin T.

Wohar, Mark E.

John Lammey Stewart Memorial Library Fund.

Language:

English

Subjects (All):

Banks and banking, Central.

Monetary policy.

Physical Description:

xviii, 398 pages : illustrations ; 24 cm

Place of Publication:

New York : Cambridge University Press, 2010.

Summary:

"Changes in the field of central banking over the past two decades have been nothing short of dramatic. Moreover, they have spanned the globe. They include the importance of central bank autonomy, the desirability of low and stable inflation, and the vital role played by how central banks communicate their views and intentions to the markets and the public more generally. There remains considerable diversity nevertheless in the institutional framework affecting central banks, the manner in which the stance of monetary policy is determined and assessed, and the forces that dictate the conduct of monetary policy more generally. The global financial crisis, which began in the United States in 2007, only serves to highlight further the importance of central bank policies. The aim of this volume is to take stock of where we are in the realm of the practice of central banking and considers some of the implications arising from the ongoing crisis"--Provided by publisher.

Contents:

The state of play in central banking and the challenges to come / Pierre L. Siklos, Martin T. Bohl and Mark E. Wohar

Is the time ripe for price level path stability? / Vitor Gaspar, Frank Smets and David Vestin

The principal-agent approach to monetary policy delegation / Georgios E. Chortareas and Stephen M. Miller

Implementing monetary policy in the 2000s : operating procedures in Asia and beyond / Corrinne Ho

Analysis of financial stability / Charles A.E. Goodhart and Dimitri P. Tsomocos

National central banks in a multi-national system / David G. Mayes and Geoffrey E. Wood

The complex relationship between central bank independence and inflation / Bernd Hayo and Carsten Hefeker

Independence and accountability in supervision : comparing central banks and financial authorities / Donato Masciandaro, Marc Quintyn and Michael W. Taylor

The economic impact of central bank transparency : a survey / Carin van der Cruijsen and Sylvester C.W. Eijffinger

How central banks take decisions : an analysis of monetary policy meetings / Philip Maier

Institutional rules and the conduct of monetary policy : does a central bank need governing principles? / Pierre L. Siklos.

Notes:

Includes bibliographical references and index.

Local Notes:

Acquired for the Penn Libraries with assistance from the John Lammey Stewart Memorial Library Fund.

ISBN:

0521199298

9780521199292

OCLC:

466341044

Publisher Number:

99944055555