The Evolution of Central Banks

By:

Charles Goodhart

Format:

Paperback / softback

Series:

Mit Press

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Description

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.

Author Biography:

Charles Goodhart is Norman Sosnow Professor of Banking and Finance at the London School of Economics. He has served as a monetary economist and as Chief Adviser at the Bank of England. He is the author of The Evolution of Central Banks.

Release date NZ

September 16th, 1988

Author

Charles Goodhart

Audiences

Postgraduate, Research & Scholarly
Professional & Vocational
Undergraduate

Pages

218

Series

Mit Press

Dimensions

143x216x15

ISBN-13

9780262570732

Product ID

14646044

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