Evolution and Procedures in Central Banking

ISBN-13: 9780521814270 / Angielski / Twarda / 2003 / 332 str.

David E. Altig; Bruce D. Smith

Opis

The contributions in this volume reveal much about the institutional nature of central banks. They analyze the banks' growth and development as well as desired objectives and challenges in the future. The articles tackle the issues in a variety of ways, combining historical observation with economic theory and experimentation.

Recenzje

"...the volume provides a refreshing survey of current leading issues in central banking, and belongs to the shelves of anyone who believes in the outstanding relevance of monetary and banking history for current challenges, both theoretical and practical." EH.NET

Spis treści

List of contributors; Acknowledgements; In memoriam; Introduction; Part I. Operational Issues in Modern Central Banking: 1. Laboratory experiments with an exceptional Phillips curve Jasmina Arifovic and Thomas J. Sargent; Commentary James Bullard and Christopher A. Sims; 2. Whither central banking? Charles Goodhart; Commentary Donald L. Kohn and Mark Gertler; Part II. Monetary Union: 3. Monetary policy in unknown territory: the European Central Bank in the early years Jürgen von Hagen and Matthias Brückner; Commentary Stephen G. Cecchetti and Vitor Gaspar; 4. International currencies and dollarization Alberto Trejos; Commentary Klaus Schmidt-Hebbel and Ross Levine; Part III. Private Alternatives to Central Banks: 5. Banking panics and the origin of central banking Gary Gorton and Lixin Huang; Commentary John H. Boyd and Edward J. Green; 6. Establishing a monetary union in the United States Arthur J. Rolnick, Bruce D. Smith and Warren E. Weber; Commentary Neil Wallace and Bruce Champ; 7. Currency competition in the Digital Age Randall S. Kroszner; Commentary Jeremy C. Stein and Jeffrey M. Lacker; Index.