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Central Bank Capitalism: Monetary Policy in Times of Crisis

Central Bank Capitalism: Monetary Policy in Times of Crisis

Hardcover

Series: Currencies: New Thinking for Financial Times

EconomicsInvesting & FinanceGeneral Political Science

ISBN10: 1503638960
ISBN13: 9781503638969
Publisher: Stanford University Press
Published: Aug 13 2024
Pages: 258
Weight: 1.20
Height: 0.86 Width: 6.00 Depth: 9.00
Language: English

Today's global financial system bears little resemblance to what it was at the end of the twentieth century. Shadow banking--financial activity taking place outside existing regulatory frameworks--has grown so important that it now serves as the backbone of the entire system. The shadow banking system, however, is highly unstable and the main reason why the financial system has remained in crisis mode since the 2008 financial crisis. To maintain stability, central banks like the Fed and the European Central Bank have come to use radical new monetary policy instruments which were inconceivable until very recently. Without intervention on the part of central banks, existing financial systems would completely collapse.

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Wullweber, Joscha

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Investing & Finance