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This collection takes the reader through historical, theoretical and factual discussions on why central banks exist and the role - actual and intended - they have in assisting their home nation in achieving monetary and financial stability.
List of contents
1. Central bank’s capital: An Introduction Peter Sinclair and Sue Milton 2. Central bank finances and independence: how much capital should a central bank have? Alex Cukierman 3. Central bank financial strength and macroeconomic policy performance Peter Stella 4. Financing the central bank: capital adequacy and financial independence – an accountant’s perspective Robin Darbyshire 5. Securing financial independence in the legal basis of a central bank Fabian Amtenbrink 6. Central bank capital adequacy: the cases of central banks with or without monetary policy Luca Papi 7. Exchange rate appreciation and negative central bank capital: is there a problem? Jan Frait and Tomáš Holub 8. Central bank losses, electronic money and contestable central banking Yúksel Górmez 9. Funding models for central banks: is the European Central Bank a special case? Ian Ingram 10. The evolving financial arrangements and independence of the National Bank of Poland Wojciech Kolodziej 11. Central bank funding models and their risk-return profile J Ramón Martínez-Resanó 12. How asset liability management techniques can help central banks Age Bakker, Han van der Hoorn and Leonard Zwikker
About the author
Sue Milton works in the Bank of England’s Centre for Central Banking Studies, where she is an adviser on central bank governance.
Peter Sinclair is Professor of Economics at the University of Birmingham, UK.
Summary
This collection takes the reader through historical, theoretical and factual discussions on why central banks exist and the role – actual and intended – they have in assisting their home nation in achieving monetary and financial stability.
