Learning from the World’s Best Central Bankers

Principles and Policies for Subduing Inflation

George M. von Furstenberg, Michael K. Ulan (Autoren)

Buch | Hardcover

242 Seiten

1998 | 1998 ed.
Springer (Verlag)
978-0-7923-8303-1 (ISBN)

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BURTON G. MALKIEL Chemical Bank Chairman's Professor of Economics Princeton University Central bankers have often believed that they are the Rodney Dangerfields of public officials-they seldom receive respect from the public or from elected officials. Particularly in the days of high infla tion and substantial unemployment, they were held responsible for everything that ailed the world's economies. And monetarists often suggested that nations would be far better off if central bankers were replaced by robots who would do nothing more than ensure that the money supply was increased at a fixed percent each year. Our views have changed considerably over the past two decades. The main reason is that, thanks in substantial part to the efforts of central bankers, inflation has generally been contained. With the re duction in inflation and the recent relative stability of price levels in most developed nations, risk premiums have tended to decline sharply. Moreover, unemployment rates, at least in the Western Hemisphere, have decreased substantially. Finally, even many economists who con sider themselves monetarists now tend to be less certain of the stabil ity of the link between the money supply and economic activity. Thus, there is greater appreciation of the critical role of judgment in the conduct of monetary policy and a general belief that the judgments central bankers have made have generally been sound.

I: Western Hemisphere.- 1. Leading Canada to Price Stability: Governor Crow’s Crusade.- 2. Courage and Conviction: Chile’s Governor Zahler.- 3. Fortune, Merit, and Distinction: Alan Greenspan.- II: Europe.- 4. Schlesinger’s Steady Honing of Germany’s Anti-Inflation Resolve.- 5. Switzerland’s Lusser: Price Stability to Bank On.- III: “Far East”.- 6. Puncturing Asset-Price Bubbles in Japan: Governor Mieno.- 7. A Sea Change for New Zealand: Governor Brash.

Erscheint lt. Verlag	31.10.1998
Zusatzinfo	XXIII, 242 p.
Verlagsort	Dordrecht
Sprache	englisch
Maße	155 x 235 mm
Themenwelt	Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
	Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Bankbetriebslehre
	Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
	Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
	Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik
ISBN-10	0-7923-8303-6 / 0792383036
ISBN-13	978-0-7923-8303-1 / 9780792383031
Zustand	Neuware