The Oxford Handbook of the Economics of Central Banking

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Oxford University Press, Mar 15, 2019 - Business & Economics - 792 pages
Central banking's "Long March" over the decades / David G. Mayes, Pierre L. Siklo, and Jan-Egbert Sturm -- Monetary policy committees and voting behavior / Sylvester Eijffinger, Ronald Mahieu, and Louis Raes -- Peaks and troughs: economics and political economy of central bank independence cycles / Donato Masciandaro and Davide Romelli -- The governance of central banks: with some examples from the Bank of England and another and some implications for all / Forrest Capie and Geoffrey Wood -- Can the central bank alleviate fiscal burdens? / Ricardo Reis -- The Impact of the global financial crisis on central banking / Alex Cukierman -- Strategies for conducting monetary policy: a critical appraisal / Dan Thornton -- Central bank communication: how to manage expectations? / Jakob de Haan and Jan-Egbert Sturm -- Central bank communications: a case study / J. Scott Davis and Mark A. Wynne -- Transparency of monetary policy in the post-crisis world / Nergiz Dincer, Barry Eichengreen, and Petra Geraats -- Real estate, construction, money, credit and finance / Peter Sinclair -- Inside the bank box: evidence on interest rate pass-through and monetary policy transmission / Leonardo Gambacorta and Paul Mizen -- Term premium variability and monetary policy / Timothy S. Fuerst and Ronald Mau -- Open market operations / Jan Toporowski -- Central banking and prudential regulation: how the wheel turns / Kevin Davis -- The changing consensus on the central bank's role in financial stability and supervision / Michael W. Taylor, Douglas W. Arner, and Evan C. Gibson -- Central banks and the new regulatory regime for banks / David T. Llewllyn -- Macroprudential regulation of banks and financial institutions / Gerald P. Dwyer -- Central banking and crisis management from the perspective of Austrian business cycle theory / Gunther Schnabl -- The changing role of the central bank in crisis avoidance and management / David G. Mayes -- Managing macrofinancial crises: the role of the central bank / Patrick Honohan, Domenico Lombardi, and Samantha St. Amand -- Macro-modelling, default and money / Charles Goodhart, Nikolaos Romanidis, Dimitrios P. Tsomocos, and Martin Shubik -- Model uncertainty in macro economics: on the implications of financial frictions / Michael Binder, Philipp Lieberknecht, Jorge Quintana, and Volker Wieland -- What has publishing inflation forecasts accomplished? : central banks and their competitors / Pierre L. Siklos
 

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Contents

1 Central Bankings Long March over the Decades
1
Part I Central Bank Governance and Varieties of Independence
37
Part II Central Bank Financing BalanceSheet Management and Strategy
129
Part III Central Bank Communication and Expectations Management
229
Part IV Policy Transmission Mechanisms and Operations
335
Managing Micro and Macroprudential Frameworks
455
Part VI Central Banking and Crisis Management
549
Part VII Evolution or Revolution in Policy Modeling?
653
Index
779
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About the author (2019)


David G. Mayes was the BNZ Professor of Finance University of Auckland; Director, Europe Institute University of Auckland.
Pierre L. Siklos is Professor of Economics, Wilfrid Laurier University. He is a Senior Fellow of the Centre for International Governance Innovation (CIGI) and a Research Fellow and member of the C.D. Howe Institute's Monetary Policy Council.
Jan-Egbert Sturm is Full Professor of Applied Macroeconomics at the Department of Management, Technology and Economics (D-MTEC) as well as Director of the KOF Swiss Economic Institute at the ETH Zurich.

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