Challenges for Central Banking

by Santomero, Anthony M.; Viotti, Staffan; Vredin, Anders

• ISBN13: 9780792373469
• ISBN10: 0792373464
• Format: Hardcover
• Copyright: 2001-04-01
• Publisher: Kluwer Academic Pub

Summary

Essays analyzing the key issues facing central banks at the dawn of the 21st century, offering a comprehensive examination of choices banks have, can, and will make. Reflects the latest thinking o what central bankers should do in an environment of competition and technological change. For central bankers, academics, and others interested in banking. DLC: Banks and banking--Central.

Table of Contents

Foreword	vii
Urban Backstrom
Challenges for Central Banking: An Introduction	1	(18)
Anthony M. Santomero
Staffan Viotti
Anders Vredin
Financial Stability, Regulation, Supervision, and Modern Central Banking	19	(20)
Franco Bruni
Regulation and the Evolution of the Financial Services Industry	39	(20)
Arnoud W.A. Boot
Silva Dezelan
Todd T. Milbourn
Regulatory Capital and the Supervision of Financial Institutions: Some Basic Distinctions and Policy Choices	59	(22)
Arturo Estrella
Central Bank Supervision in the Digital Age	81	(14)
Robert E. Litan
Central Banks and Supervision with an Application to the EMU	95	(20)
Xavier Vives
Clearing and Settling Financial Transactions, Circa 2000	115	(24)
Edward J. Green
Central Banks and the Payment System	139	(16)
David B. Humphrey
Central Banking and the Economics of Information	155	(18)
Edward J. Green
Designing a Monetary Authority	173	(14)
Willem H. Buiter
Anne C. Sibert
Maintaining Low Inflation: Rationale and Reality	187	(18)
Marvin Goodfriend
Monetary Transmission Lags and the Formulation of the Policy Decision on Interest Rates	205	(24)
Charles A.E. Goodhart
Shrinking Money and the Effectiveness of Monetary Policy	229	(18)
Lee E. Ohanian
Bank Credit versus Nonbank Credit and the Supply of Liquidity by the Central Bank	247	(24)
Milton H. Marquis
Index	271