Central Banks at a Crossroads

What Can We Learn from History?

by Michael D. Bordo, Øyvind Eitrheim, Marc Flandreau, Jan F. Qvigstad

Series: Studies in Macroeconomic History

Subject categories
ISBNs
  • 9781107149663
  • 9781316655726
  • 9781316653272
Throughout their long history, the primary concern of central banks has oscillated between price stability in normal times and financial stability in extraordinary times. In the wake of the recent global financial crisis, central banks have been given additional responsibilities to ensure financial stability, which has sparked intense debate over the nature of their role. Bankers and policy makers face an enormous challenge finding the right balance of power between the central bank and the state. This volume is the result of an international conference held at Norges Bank (the central bank of Norway). International experts and policy makers present research and historical analysis on the evolution of the central bank. They specifically focus on four key aspects: its role as an institution, the part it plays within the international monetary system, how to delineate and limit its functions, and how to apply the lessons of the past two centuries.

  • Cambridge University Press; June 2016
  • ISBN: 9781316655726
  • Read online, or download in secure PDF or secure ePub format
  • Title: Central Banks at a Crossroads
  • Series: Studies in Macroeconomic History
  • Author: Michael D. Bordo (ed.); Øyvind Eitrheim (ed.); Marc Flandreau (ed.); Jan F. Qvigstad (ed.)
  • Imprint: Cambridge University Press
Subject categories
ISBNs
  • 9781107149663
  • 9781316655726
  • 9781316653272

In The Press

'Economic policy makers - just as generals - tend to fight the last battle rather than the one at hand. Instead they should learn from history and try to find fundamental underlying principles that can guide policy. For those with an interest in monetary policy and the task of a central bank Central Banks at a Crossroads is a good start.' Lars Heikensten, former Governor of Sveriges Riksbank, Executive Director of The Nobel Foundation

Subject categories
ISBNs
  • 9781107149663
  • 9781316655726
  • 9781316653272