The quiet revolution : central banking goes modern / Alan S. Blinder ; foreword by Robert J. Shiller.

Format:

Book

Author/Creator:

Blinder, Alan S.

Series:

Arthur M. Okun memorial lectures.

Arthur M. Okun memorial lecture series

Language:

English

Subjects (All):

Banks and banking, Central.

Physical Description:

1 online resource (1 online resource (xviii, 119 p.) ) ill.

Edition:

1st ed.

Place of Publication:

New Haven : Yale University Press, 2004.

Language Note:

English

Summary:

Although little noticed, the face of central banking has changed significantly over the past ten to fifteen years, says the author of this enlightening book. Alan S. Blinder, a former vice chairman of the Federal Reserve System and member of President Clinton's Council of Economic Advisers, shows that the changes, though quiet, have been sufficiently profound to constitute a revolution in central banking. Blinder considers three of the most significant aspects of the revolution. The first is the shift toward transparency: whereas central bankers once believed in secrecy and even mystery, greater openness is now considered a virtue. The second is the transition from monetary policy decisions made by single individuals to decisions made by committees. The third change is a profoundly different attitude toward the markets, from that of stern schoolmarm to one of listener. With keenness and balance, the author examines the origins of these changes and their pros and cons.

Contents:

Front matter

Contents

Illustrations

Foreword

Acknowledgments

Introduction

Chapter 1. Through the Looking Glass: Central Bank Transparency

Chapter 2. Ex Uno Plures: Central Banking by Committee

Chapter 3. Following the Leader: The Central Bank and the Markets

Conclusion: Thoroughly Modern Central Banking

Notes

Bibliography

Index

Notes:

Bibliographic Level Mode of Issuance: Monograph

Includes bibliographical references (p. [109]-114) and index.

ISBN:

9786611740931

9781281740939

1281740934

9780300127508

0300127502

OCLC:

1013956720