E-grāmata: Future of Central Banking

Central banking is about the provision of the means of payment, and payment is, whether we like it or not, at the core of the organisation of modern society. Therefore it should not come as a surprise that central banking will have to evolve with society and has to take up its ever changing challenges. The authors of this unique book are thought leaders in the various fields in which central banking has to react or can lead change of the economy and society. For central bankers the book is a rich source of inspiration for the coming years. -- Ulrich Bindseil, European Central Bank Over the last half century, the art of central banking underwent a significant transformation: from a de facto broadly-defined social role that was bestowed on these publicly-mandated institutions of the early postwar era to conduct monetary policy, via the balancing of numerous social and economic concerns, into what became a single-minded dogma of inflation fighting. Through force majeure, the Great Financial Crisis of 2007-2008 and the COVID-19 crisis have shaken this dogma to its core, thereby slowly leading to a redefining of the role of central banks for the twenty-first century. This book is unique in offering readers a rigorous analysis of some of the most important new and exciting directions in the art of central banking, from a concern with gender and the functional and personal distribution of income and wealth to dealing with the climate/ecological crisis. -- Mario Seccareccia, University of Ottawa, Canada and International Journal of Political Economy Both well-established and bright young authors have contributed to The Future of Central Banking. The book covers topics about central banking that are usually left out of the literature but that are attracting a growing amount of attention, such as central banking and income distribution, central banking and gender, and central banking and ecological problems. Other chapters also provide an innovative approach to previously-discussed issues such as macroprudential policies or central bank independence and democracy. -- Marc Lavoie, University of Ottawa, Canada and University of Sorbonne Paris Nord (CEPN), France