
Learning from the World's Best Central Bankers
Principles and Policies for Subduing Inflation
Kluwer Academic Publishers
Published on 31. October 1998
Book
Paperback/Softback
XXIII, 242 pages
978-0-7923-8304-8 (ISBN)
Description
BURTON G. MALKIEL Chemical Bank Chairman's Professor of Economics Princeton University Central bankers have often believed that they are the Rodney Dangerfields of public officials-they seldom receive respect from the public or from elected officials. Particularly in the days of high infla tion and substantial unemployment, they were held responsible for everything that ailed the world's economies. And monetarists often suggested that nations would be far better off if central bankers were replaced by robots who would do nothing more than ensure that the money supply was increased at a fixed percent each year. Our views have changed considerably over the past two decades. The main reason is that, thanks in substantial part to the efforts of central bankers, inflation has generally been contained. With the re duction in inflation and the recent relative stability of price levels in most developed nations, risk premiums have tended to decline sharply. Moreover, unemployment rates, at least in the Western Hemisphere, have decreased substantially. Finally, even many economists who con sider themselves monetarists now tend to be less certain of the stabil ity of the link between the money supply and economic activity. Thus, there is greater appreciation of the critical role of judgment in the conduct of monetary policy and a general belief that the judgments central bankers have made have generally been sound.
More details
Edition
Softcover reprint of the original 1st ed. 1998
Language
English
Place of publication
New York
United States
Target group
College/higher education
Professional and scholarly
Research
Edition type
New edition
Illustrations
XXIII, 242 p.
Dimensions
Height: 235 mm
Width: 150 mm
Thickness: 15 mm
Weight
404 gr
ISBN-13
978-0-7923-8304-8 (9780792383048)
DOI
10.1007/978-1-4615-4959-8
Schweitzer Classification
Other editions
Additional editions

George M. von Furstenberg | Michael K. Ulan
Learning from the World's Best Central Bankers
Principles and Policies for Subduing Inflation
Book
10/1998
Kluwer Academic Publishers
€160.49
Shipment within 15-20 days
Content
I: Western Hemisphere.- 1. Leading Canada to Price Stability: Governor Crow's Crusade.- 2. Courage and Conviction: Chile's Governor Zahler.- 3. Fortune, Merit, and Distinction: Alan Greenspan.- II: Europe.- 4. Schlesinger's Steady Honing of Germany's Anti-Inflation Resolve.- 5. Switzerland's Lusser: Price Stability to Bank On.- III: "Far East".- 6. Puncturing Asset-Price Bubbles in Japan: Governor Mieno.- 7. A Sea Change for New Zealand: Governor Brash.