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The New Art of Central Banking

  • Book
  • © 1991

Overview

Authors:
  1. M. L. Burstein

    1. York University, Canada

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Table of contents (11 chapters)

  1. Front Matter

    Pages i-xv
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  2. Foundations of the New Art of Central Banking

    1. Front Matter

      Pages 1-1
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    2. Introduction

      • M. L. Burstein
      Pages 3-16

    3. The Theory of Monetary Standards Applied to Pan-European Money and Monetary Control

      • M. L. Burstein
      Pages 17-41

    4. The Modus Operandi of Bank Rate Reconsidered

      • M. L. Burstein
      Pages 42-84

    5. Innovated Payments Systems

      • M. L. Burstein
      Pages 85-100

    6. A Monetary Analysis of Public Debt

      • M. L. Burstein
      Pages 101-121

  3. Money and Trade Cycles Over Two Millennia: Retrospective and Prospective Views of Central Banking

    1. Front Matter

      Pages 123-123
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    2. Preliminaries: Physical and Monetary (?) Foundations of Cyclical Action

      • M. L. Burstein
      Pages 125-139

    3. Implications of Empirical Properties of a Hypothetical Open Economy

      • M. L. Burstein
      Pages 140-152

    4. Some Theory of Innovated Open Financial Networks

      • M. L. Burstein
      Pages 153-168

    5. Banking Policy and Economic Fluctuations

      • M. L. Burstein
      Pages 169-199

    6. Some Classical Economics: Monetary Features of Trade Fluctuations in Ancient Rome

      • M. L. Burstein
      Pages 200-218

    7. Conclusion

      • M. L. Burstein
      Pages 219-233

  4. Back Matter

    Pages 234-260
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Keywords

About this book

Central banking is being turned upside down by innovations such as securitization, complex options dealings and Euro-asset transactions that are denationalizing money and making it impossible for central banks to regulate costs of capital. Nor can central banks modulate business cycles in open economies; study of banking policy and business fluctuations suggests that the 'real' importance of bank-credit changes has long been exaggerated. The new art of central banking may culminate in masterly inactivity.

Authors and Affiliations

  • York University, Canada

    M. L. Burstein

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