ENGLISH

The New Art of Central Banking

By M. L. Burstein (auth.)

Book information

Publisher
Palgrave Macmillan UK
Year
1991
ISBN
978-1-349-11628-7, 978-1-349-11626-3
DOI
10.1007/978-1-349-11626-3
Language
english
Format
PDF
Filesize
25 MB (26408541 bytes)
Edition
1
Pages
XV, 260\272
Time added
2016-03-14 21:35:01
Macroeconomics/Monetary Economics//Financial Econo

Description

Central banking is being turned upside down by innovations such as securitization, complex options dealings and Euro-asset transactions that are denationalizing money and making it impossible for central banks to regulate costs of capital. Nor can central banks modulate business cycles in open economies; study of banking policy and business fluctuations suggests that the 'real' importance of bank-credit changes has long been exaggerated. The new art of central banking may culminate in masterly inactivity.

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