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.
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!