{"title":"Karl Brunner Distinguished Lecture Ser","description":null,"products":[{"product_id":"long-journey-of-central-bank-communication-book-otmar-issing-9780262537858","title":"The Long Journey of Central Bank Communication","description":"\u003cb\u003eA leading economist and former central banker discusses the evolution of central bank communication from secretiveness to transparency and accountability.\u003c\/b\u003e \u003cp\u003eCentral bank communication has evolved from secretiveness to transparency and accountability-from a reluctance to give out any information at all to the belief in communication as a panacea for effective policy. In this book, Otmar Issing, himself a former central banker, discusses the journey toward transparency in central bank communication. Issing traces the development of transparency, examining the Bank of England as an example of extreme reticence and European Central Bank's President Mario Draghi as a practitioner of effective communication. He argues that the ultimate goal of central bank communication is to make monetary policy more effective, and describes the practice and theory of communication as an evolutionary process. For a long time, the Federal Reserve never made its monetary policy decisions public; the European Central Bank, on the other hand, had to adopt a modern communication strategy from the outset.\u003c\/p\u003e \u003cp\u003eIssing discusses the importance of guiding expectations in central bank communication, and points to financial markets as the most important recipients of this communication. He discusses the obligations of accountability and transparency, although he notes that total transparency is a \"mirage.\" Issing argues that the central message to the public must always be that the stability of a nation's currency is the bank's priority.\u003c\/p\u003e","brand":"WoB","offers":[{"title":"GB \/ NEW \/ GARDNERS","offer_id":49729617494289,"sku":"NGR9780262537858","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ VERY_GOOD \/ SBYB","offer_id":50512854974737,"sku":"CIN0262537850VG","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ NEW \/ INGRAM","offer_id":52342331670801,"sku":"NLS9780262537858","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0262537850.jpg?v=1751133273"},{"product_id":"monetary-policy-and-its-unintended-consequences-book-raghuram-rajan-9780262547048","title":"Monetary Policy and Its Unintended Consequences","description":"I could feel my chin falling toward my chest, my back hunching forward. My body was acting on its own, and my mind was empty, like all my memories had been erased. There was scenery behind my lids. Aqua-colored water and powdery sand that extended for miles. I was never going back to coke. I wanted more heroin. And I wanted it now. Leaving behind a nightmarish college experience, Nicole and her friend, Eric, escape their home of Bangor, Maine to start a new life in Boston. Fragile and scared, Nicole desperately seeks a new beginning to help erase her past. But there is something besides freedom waiting for her in the shadows-a drug that will make every day a nightmare. Heroin. With one taste, the love that once flowed through Nicole's veins turns into cravings. Tracks mark the passing of time, and heroin's grip gets tighter. It holds her hand through deaths and prostitution, but her addiction keeps her in the darkness. When her family tries to strike a match to help light her way, Nicole must choose between a life she can hardly remember, or a love for heroin she'll never forget. Reader Caution: A harrowing story of addiction, this novel contains graphic scenes, explicit language, and disturbing situations. Recommend for mature audiences.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ GARDNERS","offer_id":49752129569041,"sku":"NGR9780262547048","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":52324710351121,"sku":"GOR014504295","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ LIKE_NEW \/ SBYB","offer_id":52885651718417,"sku":"CIN026254704XLN","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/026254704X.jpg?v=1751037811"},{"product_id":"art-of-monetary-policy-book-kristin-j-forbes-9780262052337","title":"The Art of Monetary Policy","description":"\u003cb\u003eStrategic lessons for monetary policy from the last two tumultuous decades based on insights from Sun Tzu, the Chinese philosopher and author of \u003ci\u003eThe Art of War\u003c\/i\u003e.\u003c\/b\u003e\u003cbr\u003e \u003cbr\u003e When central banks were forced to innovate and develop a multifaceted set of new weapons in response to the 2008 global financial crisis and 2020 COVID-19 pandemic, the result was a substantial expansion in their authority and reach. In \u003ci\u003eThe Art of Monetary Policy\u003c\/i\u003e, Kristin Forbes draws lessons for monetary policy of the last two decades from the principles of Sun Tzu, the author of \u003ci\u003eThe Art of War\u003c\/i\u003e, a Chinese philosopher and military strategist from the fifth century BC.\u003cbr\u003e \u003cbr\u003e Tzu proposed several key principles for success-tenets that apply to monetary policy and the battlefield today- (1) plan in advance for the next battle; (2) accept and adapt to the inevitability of powerful, external shocks outside your control; (3) establish a strong tactical position; (4) develop a variety of weapons that can be combined for different maneuvers and situations; (5) maintain flexibility so that you can quickly modify your strategy; and (6) consider the longer-term costs when evaluating the trade-offs of different approaches. These principles provide insights into what central banks did (and did not) do well over the last two decades, as well as how they should deploy interest rates, balance sheets, emergency support programs, forward guidance, and macroprudential tools in the future.\u003cbr\u003e \u003cbr\u003e While the optimal strategy in both war and monetary policy is more of an \"art\" than a science, adopting these principles can improve our ability to battle the next crisis and build more resilient economies during peaceful periods.","brand":"WoB","offers":[{"title":"- \/ - \/ INTERNAL","offer_id":52880076243217,"sku":null,"price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ NEW \/ GARDNERS","offer_id":52880077193489,"sku":"NGR9780262052337","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780262052337.jpg?v=1769680624"}],"url":"https:\/\/www.worldofbooks.com\/en-gb\/collections\/karl-brunner-distinguished-lecture-ser-book-series.oembed","provider":"World of Books ","version":"1.0","type":"link"}