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This book examines the linkage between central bank structure, central bank autonomy-with respect to setting its monetary policy goals, choosing its policy mechanisms, legal independence, and financial independence-and monetary policy, both in select benchmark countries and at a broader theoretical level. Country-specific chapters on the US, UK, Germany, Greece, Russia, India, China, Japan, Brazil, and South Africa focus on the history, administrative structure, and independence of the central monetary authority in these countries. The chapters go on to explore the countries' conduct of monetary policy, their interplay with political forces and the wider economy, their currency, and their macroeconomic outcomes. The book will appeal to researchers, students of economics, finance and business, as well as general readers with an interest in the subject.
List of contents
1. Introduction.- 2. The Idea of Central Bank Independence.- 3. The United States of America.- 4. The United Kingdom.- 5. Germany and the European Central Bank.- 6. Greece.- 7. The Russian Federation.- 8. India.- 9. China.- 10. Japan.- 11. Brazil.- 12. South Africa.- 13. Conclusion.
About the author
Ranajoy Ray Chaudhuri is Assistant Professor of Economics at Muhlenberg College, USA, where he teaches courses in Macroeconomics and Monetary Economics, Development Economics, and Finance. He has also taught at The Ohio State University, Princeton University, and St. Mary’s College of Maryland, and at several universities in China and Mexico. He is the author of The Changing Face of American Banking: Deregulation, Reregulation, and the Global Financial System (2014). Dr. Ray Chaudhuri received his PhD in Economics from The Ohio State University in 2012.
Summary
This book examines the linkage between central bank structure, central bank autonomy—with respect to setting its monetary policy goals, choosing its policy mechanisms, legal independence, and financial independence—and monetary policy, both in select benchmark countries and at a broader theoretical level. Country-specific chapters on the US, UK, Germany, Greece, Russia, India, China, Japan, Brazil, and South Africa focus on the history, administrative structure, and independence of the central monetary authority in these countries. The chapters go on to explore the countries’ conduct of monetary policy, their interplay with political forces and the wider economy, their currency, and their macroeconomic outcomes. The book will appeal to researchers, students of economics, finance and business, as well as general readers with an interest in the subject.
Additional text
Selected by Choice magazine as an Outstanding Academic Title for 2019 “This is a comprehensive, almost encyclopedic work about central banks in a number of countries. … Meticulously researched and extremely well written, this is a must-have for any collection. Summing Up: Essential. Upper-division undergraduates through faculty.” (M. H. Lesser, Choice, Vol. 56 (8), April, 2019)
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Selected by Choice magazine as an Outstanding Academic Title for 2019 "This is a comprehensive, almost encyclopedic work about central banks in a number of countries. ... Meticulously researched and extremely well written, this is a must-have for any collection. Summing Up: Essential. Upper-division undergraduates through faculty." (M. H. Lesser, Choice, Vol. 56 (8), April, 2019)
