The quiet revolution [electronic resource] : central banking goes modern / Alan S. Blinder ; foreword by Robert J. Shiller.
- Other records:
- New Haven : Yale University Press, 2004.
- Arthur M. Okun memorial lectures.
Arthur M. Okun memorial lecture series
1 online resource (1 online resource (xviii, 119 p.) ) ill.
- Banks and banking, Central.
- Electronic books.
- Although little noticed, the face of central banking has changed significantly over the past ten to fifteen years, says the author of this enlightening book. Alan S. Blinder, a former vice chairman of the Federal Reserve System and member of President Clinton's Council of Economic Advisers, shows that the changes, though quiet, have been sufficiently profound to constitute a revolution in central banking. Blinder considers three of the most significant aspects of the revolution. The first is the shift toward transparency: whereas central bankers once believed in secrecy and even mystery, greater openness is now considered a virtue. The second is the transition from monetary policy decisions made by single individuals to decisions made by committees. The third change is a profoundly different attitude toward the markets, from that of stern schoolmarm to one of listener. With keenness and balance, the author examines the origins of these changes and their pros and cons.
- Front matter
Chapter 1. Through the Looking Glass: Central Bank Transparency
Chapter 2. Ex Uno Plures: Central Banking by Committee
Chapter 3. Following the Leader: The Central Bank and the Markets
Conclusion: Thoroughly Modern Central Banking
- Bibliographic Level Mode of Issuance: Monograph
Includes bibliographical references (p. -114) and index.
- Publisher Number:
- 10.12987/9780300127508 doi
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