Central Banking in Turbulent Times

Central Banking in Turbulent Times
By:Francesco Papadia,Tuomas Välimäki
Published on 2018-03-09 by Oxford University Press

Central banks came out of the Great Recession with increased power and responsibilities. Indeed, central banks are often now seen as 'the only game in town', and a place to put innumerable problems vastly exceeding their traditional remit. These new powers do not fit well, however, with the independence of central banks, remote from the democratic control of government. Central Banking in Turbulent Times examines fundamental questions about the central banking system, asking whether the model of an independent central bank devoted to price stability is the final resting point of a complex development that started centuries ago. It dissects the hypothesis that the Great Recession has prompted a reassessment of that model; a renewed emphasis on financial stability has emerged, possibly vying for first rank in the hierarchy of objectives of central banks. This raises the risk of dilemmas, since the Great Recession brought into question implicit assumptions that the pursuit of price stability would also lead to financial stability. In addition, the border between monetary and fiscal policy was blurred both in the US and in Europe. Central Banking in Turbulent Times asks whether the model prevailing before the Great Recession has been irrevocably altered. Are we entering, as Charles Goodhart has hypothesized, into the 'fourth epoch' of central banking? Are changes to central banks part of a move away from the global liberal order that seemed to have prevailed at the turn of the century? Central Banking in Turbulent Times seeks to answer these questions as it examines how changes can allow for the maintenance of price stability, while adapting to the long-term consequences of the Great Recession.

This Book was ranked at 3 by Google Books for keyword money matters.

Book ID of Central Banking in Turbulent Times's Books is TBFQDwAAQBAJ, Book which was written byFrancesco Papadia,Tuomas Välimäkihave ETAG "WWeClrIPkc0"

Book which was published by Oxford University Press since 2018-03-09 have ISBNs, ISBN 13 Code is 9780192528889 and ISBN 10 Code is 0192528882

Reading Mode in Text Status is true and Reading Mode in Image Status is true

Book which have "319 Pages" is Printed at BOOK under CategoryBusiness and Economics

This Book was rated by Raters and have average rate at ""

This eBook Maturity (Adult Book) status is NOT_MATURE

Book was written in en

eBook Version Availability Status at PDF is true and in ePub is true

Book Preview