The New Art of Central Banking
ISBN:
9781349116287
Auflage:
1st ed. 1991
Verlag:
Palgrave Macmillan UK
Land des Verlags:
Vereinigtes Königreich
Erscheinungsdatum:
01.01.1991
Format:
Softcover
Seitenanzahl:
260
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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.
