The activities of central banks are relevant to everyone in
society. This book starts by considering how and why in general
central banks evolved and specifically the special aspects of the
contribution of the Northern European Central Banking Tradition.
With that foundation, the book will then turn to a series of
contemporary themes. Firstly, this book looks at independence, how
central banks can actually influence their respective economies,
goals, responsibilities and governance.
This collection of papers, formulated from the joint conference
of the Bank of Finland and the Deutsche Bundesbank in November
2007, will help motivate continuing research into the institutional
design of central banks and promote a better understanding of the
many challenges central banks are facing today. This volume gives a
detailed perspective on the benefits of price stability and central
bank independence and, due to the advances in macroeconomic theory,
has prompted a substantial rethink on central banks? institutional
design.
With contributions from such scholars as Anne Sibert and Forrest
Capie and a foreword by Erkki Liikanen and Professor Axel A. Weber,
this volume will be useful reading for monetary economists around
the world as well as all those with an interest in central banks
and banking more generally.
General
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