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Harold James - Making a Modern Central Bank, Häftad

Häftad, Engelska, 2020

Del i serien Studies in Macroeconomic History

Making a Modern Central Bank

The Bank of England 1979-2003

Av Harold James

829 kr

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Beskrivning
Making a Modern Central Bank examines a revolution in monetary and economic policy. This authoritative guide explores how the Bank of England shifted its traditional mechanisms to accommodate a newly internationalized financial and economic system. The Bank's transformation into a modern inflation-targeting independent central bank allowed it to focus on a precisely defined task of monetary management, ensuring price stability. The reframing of the task of central banks, however, left them increasingly vulnerable to financial crisis. James vividly outlines and discusses significant historical developments in UK monetary policy, and his knowledge of modern European history adds rich context to archival research on the Bank of England's internal documents. A worthy continuation of the previous official histories of the Bank of England, this book also reckons with contemporary issues, shedding light on the origins of growing backlash against globalization and the European Union.
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Harold James is Professor of History and International Affairs and Claude and Lore Kelly Professor of European Studies at Princeton University.

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'In 1979, as Harold James remarks, 'there was no way of really knowing what the Bank of England was supposed to do'. But by 2003, the Bank seemed remade as a Modern Central Bank, with one core objective – to hit the inflation target defined by statute. In this insightful and lucidly written book, James explains the complex interplay of economic, financial and intellectual developments which led from the confused opacity of the 1970s to the apparent clarity of the early 2000s. And in a brilliant epilogue, he explores how confidence in the new philosophy melted in the face of the 2007-08 financial crisis. Anyone seeking to understand the still unresolved challenge of delivering monetary and financial stability in a modern economy should read this book.' Lord Adair Turner, former Chair of UK Financial Services Authority

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