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The Evolution of Central Banks by Charles Goodhart

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The Evolution of Central Banks by Charles Goodhart

The Evolution of Central Banks employs a wide range of historical evidence and reassesses current monetary analysis to argue that the development of non-profit-maximizing and noncompetitive central banks to supervise and regulate the commercial banking system fulfils a necessary and natural function. Goodhart surveys the case for free banking, examines the key role of the clearing house in the evolution of the central bank, and investigates bank expansion and fluctuation in the context of the clearing house mechanism. He concludes that it is the noncompetitive aspect of the central bank that is crucial to the performance of its role. Goodhart addresses the questions of deposit insurance and takes up the "club theory" approach to the central bank. Included in the historical study of their origins are 8 European central banks, the Bank of Japan, the Bank of England, and the Federal Reserve Board of the United States.

Charles Goodhart CBE, FBA is an Emeritus Professor of Banking and Finance and a member of the London School of Economics and Political Science's Financial Markets Group, where he previously served as the group's Deputy Director from 1987 to 2005. He was the Norman Sosnow Professor of Banking and Finance at the LSE from 1985 until his retirement in 2002. Prior to entering academia, he spent seventeen years as a monetary advisor at the Bank of England, rising to the position of chief advisor in 1980.

SKU Unavailable
ISBN 13 9780262570732
ISBN 10 0262570734
Title The Evolution of Central Banks
Author Charles Goodhart
Series Mit Press
Condition Unavailable
Binding Type Paperback
Publisher MIT Press Ltd
Year published 1988-09-16
Number of pages 218
Cover note Book picture is for illustrative purposes only, actual binding, cover or edition may vary.