A History of Central Banking in Great Britain and the United States (Studies in Macroeconomic History)
Cambridge University Press, 8/4/2005
EAN 9780521850131, ISBN10: 0521850134
Hardcover, 456 pages, 22.9 x 15.2 x 2.9 cm
Language: English
Central banks in Great Britain and the United States arose early in the financial revolution. The Bank of England was created in 1694 while the first Banks of the United States appeared in 1791–1811 and 1816–36, and were followed by the Independent Treasury, 1846–1914. These institutions, together with the Suffolk Bank and the New York Clearing House, exercised important central banking function before the creation of the Federal Reserve System in 1913. In this 2005 book, significant monetary changes in the lives of these British and American institutions are examined within a framework that deals with the knowledge and behavior of central bankers and their interactions with economists and politicians. Central bankers' behavior has shown considerable continuity in the influence of incentives and their interest in the stability of the financial markets.
1. Understanding monetary policy
2. An introduction to central bankers
3. Making a central bank
I. Surviving
4. Making a central bank
II. Looking for a rule
5. Making a central bank
III. Ends and means
6. Central banking in the United States, 1790–1914
7. Before the crash
the origins and early years of the Federal Reserve
8. The fall and rise of the Federal Reserve, 1929–51
9. Central banking in the United States after the Great Depression, 1951–71
10. The Bank of England after 1914
11. Rules vs. authorities
12. Permanent suspension
13. Back to the beginning? New contracts for new companies.