A Comparative History of Central Bank Behavior
Consistency in Monetary Policy in the US and UK
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56 683 Ft
Beszerezhetőség
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A termék adatai:
- Kiadó Edward Elgar Publishing
- Megjelenés dátuma 2022. november 15.
- ISBN 9781803926599
- Kötéstípus Keménykötés
- Terjedelem312 oldal
- Méret 234x156 mm
- Súly 580 g
- Nyelv angol 514
Kategóriák
Hosszú leírás:
It is widely believed that central banks have grown (the Bank of England) or were established (the Federal Reserve) to pursue the twin objectives of monetary and price stability. But why should they? Central bankers are people, too, whose behavior is presumably determined, like the rest of us, by their incentives and the information available to them. The author explores this question.
Two sets of data confirm the reservations. Central banks have often worsened, even initiated, monetary instabilities by bailing out the risk-takers and their effects on prices, which depending on the quantities of money created by central banks, have often been catastrophic. The evidence suggests that central bankers have really been in business to support the politically powerful upon whose favors they depend, particularly high-spending governments and needy financial institutions. The book consists of several examples of this behavior and its consistency during wars and financial crises in the UK and US over the course of the last two centuries.
Professors and students of finance will find A Comparative History of Central Bank Behavior to be a compelling and thoughtful exploration of how central banks have historically responded to and influenced financial markets.
It is widely believed that central banks have grown (the Bank of England) or were established (the Federal Reserve) to pursue the twin objectives of monetary and price stability. But why should they? Central bankers are people, too, whose behavior is presumably determined, like the rest of us, by their incentives and the information available to them. The author explores this question.
?In A Comparative History of Central Bank Behavior, Wood investigates the reality behind the claim of central bank ?independence.? Through probing investigation of historical episodes for both the Bank of England and the Federal Reserve System, he documents convincingly that their behavior is a complicated result of the exigencies of government. Anyone interested in the design of
Tartalomjegyzék:
Contents: Preface 1. Governments and their banks 2. Aristocratic government and the Bank of England during the Age of Reform 3. The commercial crisis of 1847 4. The Bank of England and the Great Depression 5. The Bank of England after the Great Depression 6. American monetary policy in the nineteenth century 7. The Federal Reserve and the Great Depression 8. The Great Recession 9. The politics of famine 10. Endless wars 11. Summary: government and the public References Index
Több
A Comparative History of Central Bank Behavior: Consistency in Monetary Policy in the US and UK
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56 683 Ft
