The Evolution of Central Banks employs a wide range of
historical evidence and reassesses current monetary analysis to
argue that the development of non-profit-maximizing and
noncompetitive central banks to supervise and regulate the
commercial banking system fulfils a necessary and natural
function.Goodhart surveys the case for free banking, examines the
key role of the clearing house in the evolution of the central
bank, and investigates bank expansion and fluctuation in the
context of the clearing house mechanism. He concludes that it is
the noncompetitive aspect of the central bank that is crucial to
the performance of its role. Goodhart addresses the questions of
deposit insurance and takes up the "club theory" approach to the
central bank. Included in the historical study of their origins are
8 European central banks, the Bank of Japan, the Bank of England,
and the Federal Reserve Board of the United States.Charles Goodhart
was appointed to the newly established Norman Sosnow Chair of
Banking and Finance at the London School of Economics in 1985. For
the previous 17 years he served as a monetary economist at the Bank
of England, becoming a Chief Adviser in 1980.
General
Imprint: |
MIT Press
|
Country of origin: |
United States |
Series: |
MIT Press |
Release date: |
September 1988 |
First published: |
1988 |
Authors: |
Charles Goodhart
|
Dimensions: |
203 x 137 x 14mm (L x W x T) |
Format: |
Paperback - Trade
|
Pages: |
218 |
ISBN-13: |
978-0-262-57073-2 |
Categories: |
Books >
Business & Economics >
Economics >
General
|
LSN: |
0-262-57073-4 |
Barcode: |
9780262570732 |
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