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Central Banking Systems Compared: The ECB, The Pre-Euro Bundesbank and the Federal Reserve System,9780415300421
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Central Banking Systems Compared: The ECB, The Pre-Euro Bundesbank and the Federal Reserve System


Author(s): Apel,Emmanuel
ISBN10:  0415300428
ISBN13:  9780415300421
Format:  Hardcover
Pub. Date:  5/16/2003
Publisher(s): Routledge

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SummaryTable of Contents
This new study provides a comprehensive survey of the recently established European financial system in comparison to previous European systems and the U.S. Federal Reserve.
List of illustrations ix
List of abbreviations and acronyms xii
Preface xiv
1 Historical background and basic institutional features 1(27)
The European Central Bank
1 (13)
The pre-euro Bundesbank
14 (3)
The Federal Reserve system
17(11)
2 Objectives, independence, transparency and accountability 28(36)
Principal statutory objective(s) of, and interpretation by, the three central banks
28 (5)
Central bank independence
33 (24)
Transparency and accountability
57(7)
3 Monetary policy: strategy, instruments and actions 64(79)
Monetary policy strategy of the Eurosystem
65 (16)
Operational instruments of the Eurosystem
81 (9)
Monetary policy decisions of the Eurosystem
90 (27)
Monetary policy strategy and instruments of the pre-euro Bundesbank
117(16)
The Fed's monetary policy strategy
133(6)
The Fed's principal operational instruments
139(4)
4 Economic policy coordination in the eurozone 143(50)
The economic policy framework
144(31)
Banking prudential supervision and financial stability
175 (15)
Concluding remarks
190(3)
Appendix 193 (2)
Notes 195 (10)
References 205 (8)
Index 213

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