Appointing Central Bankers

Appointing Central Bankers
Title Appointing Central Bankers PDF eBook
Author Kelly H. Chang
Publisher Cambridge University Press
Total Pages 86
Release 2003-08-18
Genre Juvenile Nonfiction
ISBN 9780521823333

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This book examines monetary policy by focusing on how the President and the Senate influence monetary policy by appointing Fed members. The book attempts to answer three questions about the appointment process and its effects. First, do politicians influence monetary policy via Fed appointments? Second, who influences the process -- the President alone or both the President and the Senate? Third, what explains the structure of the Fed appointment process? The study extends the analysis of the Fed to the European Central bank.

Bankers, Bureaucrats, and Central Bank Politics

Bankers, Bureaucrats, and Central Bank Politics
Title Bankers, Bureaucrats, and Central Bank Politics PDF eBook
Author Christopher Adolph
Publisher Cambridge University Press
Total Pages 389
Release 2013-04-15
Genre Political Science
ISBN 1139620533

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Most studies of the political economy of money focus on the laws protecting central banks from government interference; this book turns to the overlooked people who actually make monetary policy decisions. Using formal theory and statistical evidence from dozens of central banks across the developed and developing worlds, this book shows that monetary policy agents are not all the same. Molded by specific professional and sectoral backgrounds and driven by career concerns, central bankers with different career trajectories choose predictably different monetary policies. These differences undermine the widespread belief that central bank independence is a neutral solution for macroeconomic management. Instead, through careful selection and retention of central bankers, partisan governments can and do influence monetary policy - preserving a political trade-off between inflation and real economic performance even in an age of legally independent central banks.

The Federal Reserve System Purposes and Functions

The Federal Reserve System Purposes and Functions
Title The Federal Reserve System Purposes and Functions PDF eBook
Author Board of Governors of the Federal Reserve System
Publisher
Total Pages 0
Release 2002
Genre Banks and Banking
ISBN 9780894991967

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Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.

The Future of Central Banking

The Future of Central Banking
Title The Future of Central Banking PDF eBook
Author Forrest Capie
Publisher Cambridge University Press
Total Pages 396
Release 1994
Genre Business & Economics
ISBN 9780521496346

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This volume contains two major papers prepared for the Bank of England's Tercentenary Symposium in June 1994. The first, by Forrest Capie, Charles Goodhart and Norbert Schnadt, provides an authoritative account of the evolution of central banking. It traces the development of both the monetary and financial stability concerns of central banks, and includes individual sections on the evolution and constitutional positions of 31 central banks from around the world. The second paper, by Stanley Fischer, explores the major policy dilemmas now facing central bankers: the extent to which there is a short-term trade-off between inflation and growth; the choice of inflation targets; and the choice of operating procedures. Important contributions by leading central bankers from around the world, and the related Per Jacobsen lecture by Alexander Lamfalussy, are also included in the volume.

Crafting Consensus

Crafting Consensus
Title Crafting Consensus PDF eBook
Author Nicole Baerg
Publisher Oxford University Press, USA
Total Pages 218
Release 2020-08-12
Genre Business & Economics
ISBN 0190499486

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In a world dependent on the constant sharing of information, central bankers increasingly communicate their policies to the mass public. Central bank communications are drafted in monetary policy committee meetings composed of policymakers with differing interests. Despite their differences, committee members must come together, write, and agree to an official policy statement. Once released to the public, central bank communications then affect citizens' actions and ultimately, the economy. But how exactly does this work? In Crafting Consensus, Nicole Baerg explains how the transparency of central bank communication depends on the configuration of committee members' preferences. Baerg argues that monetary policy committees composed of members with differing preferences over inflation are better suited to communicating precise information with the public. These diverse committees produce central bank statements of higher quality and less uncertainty than those from more homogeneous committees. Additionally, she argues that higher quality statements more effectively shape individuals' inflation expectations and move the economy in ways that policymakers intend. Baerg demonstrates that central bankers are not impartial technocrats and that their preferences and the institutional rules where they work matter for understanding the politics of monetary policy and variations in economic performance over time. Conducting empirical analysis from historical archival data, textual analysis, machine-learning, survey experiments, and cross-sectional time-series data, Crafting Consensus offers a new theory of committee decision making and a battery of empirical tests to provide a rich understanding of modern-day central banking.

Unelected Power

Unelected Power
Title Unelected Power PDF eBook
Author Paul Tucker
Publisher Princeton University Press
Total Pages 662
Release 2019-09-10
Genre Business & Economics
ISBN 0691196303

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Tucker presents guiding principles for ensuring that central bankers and other unelected policymakers remain stewards of the common good.

The Political Economy of Central Banking

The Political Economy of Central Banking
Title The Political Economy of Central Banking PDF eBook
Author Gerald Epstein
Publisher Edward Elgar Publishing
Total Pages 576
Release 2019
Genre Business & Economics
ISBN 1788978412

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Central banks are among the most powerful government economic institutions in the world. This volume explores the economic and political contours of the struggle for influence over the policies of central banks such as the Federal Reserve, and the implications of this struggle for economic performance and the distribution of wealth and power in society.