The New Art of Central Banking

Burstein, M L

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.

Details

Published by: Palgrave Macmillan

Publication Date: 1991-01-01

Format: Paperback

ISBN-13: 9781349116287

DOI: 10.1007/978-1-349-11626-3

Dimensions: 216cm x140cm

Pages: 260