The Quiet Revolution

Central Banking Goes Modern

By: Alan S. Blinder

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Hardcover | 11 March 2004 | Edition Number 1

At a Glance

Hardcover
144 Pages

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22.3 x 14.5 x 1.4

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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.

Industry Reviews

"Professor Blinder's efforts to advance the cause of good monetary policy have led to new insights about the achievement of the ultimate objectives of monetary policy. This book will be remembered as an important treatise on the practice of central banking." Robert J. Shiller"

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You Can Find This Book In

Non-Fiction Accounting & Finance Finance Banking Economics Business & Management

List of Illustrations
Foreword
Acknowledgments
Introduction	p. 1
Through the Looking Glass: Central Bank Transparency	p. 5
Ex Uno Plures: Central Banking by Committee	p. 34
Following the Leader: The Central Bank and the Markets	p. 65
Conclusion: Thoroughly Modern Central Banking	p. 98
Notes	p. 101
Bibliography	p. 109
Index	p. 115
Table of Contents provided by Blackwell. All Rights Reserved.

The Quiet Revolution

Central Banking Goes Modern

At a Glance

Hardcover

Industry Reviews

Shipping

How to return your order

Defective items

You Can Find This Book In

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