The Changing Face of Central Banking: Evolutionary Trends since World War II

by Pierre L. Siklos

Overview

Central banks have emerged as the key players in national and international policy making. This book explores their evolution since World War II in 20 industrial countries. The study considers the mix of economic, political, and institutional forces that have affected central bank behavior and its relationship with government. The analysis reconciles vastly different views about the role of central banks in the making of economic policies. One finding is that monetary policy is an evolutionary process.

Product Details

ISBN-13:	9780521780254
Publisher:	Cambridge University Press
Publication date:	11/21/2002
Series:	Studies in Macroeconomic History
Pages:	372
Product dimensions:	5.98(w) x 9.02(h) x 0.98(d)
Lexile:	1510L (what's this?)

Table of Contents

List of figures; List of tables; Preface; 1. The institutional make-up and evolution of central bank-government relations: an introduction; 2. Legislation alone does not a central bank make: political structure, governance and reputation in monetary policy; 3. Central bank personalities and monetary policy performance; 4. Econometric analysis of central bank behavior: an evolutionary approach; 5. Contrasting quantitative and qualitative assessments of central bank behavior and the evolution of monetary policies; 6. Accountability, disclosure and conflict resolution; 7. Inflation targets versus other inflation control measures: two sides of the same coin?; 8. The changing face of central banking: epilogue; Bibliography; Index.

Editorial Reviews

"...a superbly researched and exhaustively documented work on the evolution of modern monetary policy. It will appeal to economists, policy makers, and anyone interested in monetary economies." Eastern Economic Journal

"This is a tour de force that deserves to be the standard reference on central banking for many years to come." Economic History

From the Publisher