Central Banks Democratic States And Financial Power

Central Banks  Democratic States and Financial Power PDF
Author: Jocelyn Pixley
Publisher: Cambridge University Press
ISBN: 1107122031
Size: 44.28 MB
Format: PDF, Kindle
Category : Business & Economics
Languages : en
Pages : 416
View: 3372

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Assesses central bank policies towards capitalist money creation and war finance against inflationary and deflationary class strengths in specific democracies.

Unelected Power

Unelected Power PDF
Author: Paul Tucker
Publisher: Princeton University Press
ISBN: 0691176736
Size: 40.63 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 656
View: 3015

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Guiding principles for ensuring that central bankers and other unelected policymakers remain stewards of the common good Central bankers have emerged from the financial crisis as the third great pillar of unelected power alongside the judiciary and the military. They pull the regulatory and financial levers of our economic well-being, yet unlike democratically elected leaders, their power does not come directly from the people. Unelected Power lays out the principles needed to ensure that central bankers, technocrats, regulators, and other agents of the administrative state remain stewards of the common good and do not become overmighty citizens. Paul Tucker draws on a wealth of personal experience from his many years in domestic and international policymaking to tackle the big issues raised by unelected power, and enriches his discussion with examples from the United States, Britain, France, Germany, and the European Union. Blending economics, political theory, and public law, Tucker explores the necessary conditions for delegated but politically insulated power to be legitimate in the eyes of constitutional democracy and the rule of law. He explains why the solution must fit with how real-world government is structured, and why technocrats and their political overseers need incentives to make the system work as intended. Tucker explains how the regulatory state need not be a fourth branch of government free to steer by its own lights, and how central bankers can emulate the best of judicial self-restraint and become models of dispersed power. Like it or not, unelected power has become a hallmark of modern government. This critically important book shows how to harness it to the people's purposes.

The Political Economy Of Central Banking In Emerging Economies

The Political Economy of Central Banking in Emerging Economies PDF
Author: Mustafa Yağcı
Publisher: Routledge
ISBN: 1000164772
Size: 48.50 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 238
View: 3213

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Since the start of the Global Financial Crisis in 2008, research on central banking has gained momentum due to unusual levels of central bank activism and unconventional monetary policy measures in many countries. While these policies drew significant attention to advanced economy central banks, there has been much less academic focus on central banking in emerging economies. This book extends the research on the political economy of central banking by focusing on the emerging economies in Asia, Africa, Latin America, and the European periphery. Central banks are at the heart of economic policymaking, and their decisions have a significant impact on the social and economic well-being of citizens. Adopting an interdisciplinary political economy perspective, the contributions in this book explore the reciprocal relations between politics, economics, and central banks, and how the global and domestic political economy contexts influence central bank practices. The chapters employ diverse theoretical perspectives such as institutional and organizational theory, developmental state resource dependency, and gender studies, drawing on disciplines ranging from politics, international relations, public policy, management, finance, and sociology. This book will appeal to academics and students of central banking, political economy, and emerging economies, as well as professionals and policymakers engaged with central banks, monetary policy, and economic development.

Breaking The Banks

Breaking the Banks PDF
Author: Joseph Healy
Publisher: Simon and Schuster
ISBN: 1920727949
Size: 36.70 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 300
View: 6850

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What was once an industry built on trust, professionalism and value, has become synonymous with greed, complacency and everything that has gone wrong with capitalism. So how did Australian banks, which avoided much of the aftermath of the GFC, lose their way and become engulfed in scandal? Breaking the Banks delves into the causes and effects of the banking crisis that plagued Australia and the world, to re-establish the fundamentals of banking that for so long have been overshadowed by power and wealth, and provides us with a crucial blueprint to revolutionise the future of banking. With expertise in banking that spans over three decades and several markets and as a former senior executive at two of Australia’s largest banks, Joseph Healy, co-founder and co-CEO of Judo Bank, writes the insider’s account of the banking crisis that plagued Australia and the world.

Fiscal Implications Of Central Bank Balance Sheet Policies

Fiscal Implications of Central Bank Balance Sheet Policies PDF
Author: Athanasios Orphanides
Publisher:
ISBN:
Size: 51.94 MB
Format: PDF, Kindle
Category : Banks and banking, Central
Languages : en
Pages : 29
View: 2888

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Under ordinary circumstances, the fiscal implications of central bank policies tend to be seen as relatively minor and escape close scrutiny. The global financial crisis of 2008, however, demanded an extraordinary response by central banks which brought to light the immense power of central bank balance sheet policies as well as their major fiscal implications. Once the zero lower bound on interest rates is reached, expanding a central bank's balance sheet becomes the central instrument for providing additional monetary policy accommodation. However, with interest rates near zero, the line separating fiscal and monetary policy is blurred. Furthermore, discretionary decisions associated with asset purchases and liquidity provision, as well as with lender-of-last-resort operations benefiting private entities, can have major distributional effects that are ordinarily associated with fiscal policy. In the euro area, discretionary central bank decisions can have immense distributional effects across member states. However, decisions of this nature are incompatible with the role of unelected officials in democratic societies. Drawing on the response to the crisis by the Federal Reserve and the ECB, this paper explores the tensions arising from central bank balance sheet policies and addresses pertinent questions about the governance and accountability of independent central banks in a democratic society.

Power And Democracy

Power and Democracy PDF
Author: Fredrik Engelstad
Publisher: Ashgate Pub Limited
ISBN:
Size: 25.32 MB
Format: PDF, Mobi
Category : Social Science
Languages : en
Pages : 248
View: 7607

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This volume brings together leading international scholars to explore the relationship between power and democracy. The analyses incorporate key contemporary themes, including globalization, modernity, technology, gender relations and social capital.

The Power And Independence Of The Federal Reserve

The Power and Independence of the Federal Reserve PDF
Author: Peter Conti-Brown
Publisher: Princeton University Press
ISBN: 1400888417
Size: 79.82 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 360
View: 5145

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The independence of the Federal Reserve is considered a cornerstone of its identity, crucial for keeping monetary policy decisions free of electoral politics. But do we really understand what is meant by "Federal Reserve independence"? Using scores of examples from the Fed's rich history, The Power and Independence of the Federal Reserve shows that much common wisdom about the nation's central bank is inaccurate. Legal scholar and financial historian Peter Conti-Brown provides an in-depth look at the Fed's place in government, its internal governance structure, and its relationships to such individuals and groups as the president, Congress, economists, and bankers. Exploring how the Fed regulates the global economy and handles its own internal politics, and how the law does—and does not—define the Fed's power, Conti-Brown captures and clarifies the central bank's defining complexities. He examines the foundations of the Federal Reserve Act of 1913, which established a system of central banks, and the ways that subsequent generations have redefined the organization. Challenging the notion that the Fed Chair controls the organization as an all-powerful technocrat, he explains how institutions and individuals—within and outside of government—shape Fed policy. Conti-Brown demonstrates that the evolving mission of the Fed—including systemic risk regulation, wider bank supervision, and as a guardian against inflation and deflation—requires a reevaluation of the very way the nation's central bank is structured. Investigating how the Fed influences and is influenced by ideologies, personalities, law, and history, The Power and Independence of the Federal Reserve offers a uniquely clear and timely picture of one of the most important institutions in the United States and the world.

The Strength Of Democracy

The Strength of Democracy PDF
Author: Edwin Anderson Alderman
Publisher:
ISBN:
Size: 48.11 MB
Format: PDF, Mobi
Category : Democracy
Languages : en
Pages : 4
View: 6375

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Crashed

Crashed PDF
Author: Adam Tooze
Publisher: Siedler Verlag
ISBN: 3641192773
Size: 18.71 MB
Format: PDF, Kindle
Category : Business & Economics
Languages : de
Pages : 800
View: 1420

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Alles über die Finanzkrise und ihre dramatischen Folgen für Europa und die Welt Als die US-Großbank Lehman Brothers im September 2008 zusammenbrach, war dies der Tiefpunkt der Banken- und Finanzkrise. Und obwohl der totale Kollaps der Weltwirtschaft damals verhindert wurde, ist die Finanzkrise noch lange nicht Geschichte, wie der britische Historiker Adam Tooze zeigt. Er schildert, wie es zu dieser Krise der Finanzmärkte kam und welche dramatischen Folgen sie bis heute hat. Denn durch die Finanzkrise ist nicht nur die Stabilität Europas ins Wanken geraten, sie hat auch das Vertrauen in die Kraft der globalen Wirtschaftsordnung erschüttert – und so zum Aufstieg der Populisten beigetragen.

Die Prinzipien Des Erfolgs

Die Prinzipien des Erfolgs PDF
Author: Ray Dalio
Publisher: FinanzBuch Verlag
ISBN: 3960922167
Size: 50.95 MB
Format: PDF, ePub, Mobi
Category : Self-Help
Languages : de
Pages : 688
View: 1499

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Seine Firma Bridgewater Associates ist der größte Hedgefonds der Welt, er selbst gehört zu den Top 50 der reichsten Menschen auf dem Planeten: Ray Dalio. Seit 40 Jahren führt er sein Unternehmen so erfolgreich, dass ihn Generationen von Nachwuchsbankern wie einen Halbgott verehren. Mit "Die Prinzipien des Erfolgs" erlaubt er erstmals einen Blick in seine sonst so hermetisch abgeriegelte Welt. Seine Beobachtungen aus dem Geschäftsleben hielt Ray Dalio schon als junger Unternehmer in einem Notizbuch fest. Das war die Geburtsstunde seiner gut 200 "Prinzipien", die mit diesem Buch erstmals gebündelt vorliegen und kaum weniger als die Essenz des geradezu unheimlichen Erfolgs von Ray Dalio und seiner Firma darstellen. Kern dieser Prinzipien ist eine stetige Verbesserung durch radikale Transparenz und Wahrhaftigkeit, eine Art "Ideen-Meritokratie ", also eine Atmosphäre, in der sich die besten Ideen durchsetzen. Die einzigartigen Prinzipien, mithilfe derer jeder den Weg des Erfolgs einschlagen kann, und die mitunter harten Lektionen, die ihn sein einzigartiges System errichten ließen, hat Ray Dalio auf eine bisher noch nie dagewesene, unkonventionelle Weise zusammengetragen.