Central Banks as Economic Institutions

Central Banks as Economic Institutions

The Cournot Centre series

Edited by Jean-Philippe Touffut

The number of central banks in the world is approaching 180, a tenfold increase since the beginning of the twentieth century. What lies behind the spread of this economic institution? What underlying process has brought central banks to hold such a key role in economic life today? This book examines from a transatlantic perspective how the central bank has become the bank of banks. Thirteen distinguished economists and central bankers have been brought together to evaluate how central banks work, arrive at their policies, choose their instruments and gauge their success in managing economies, both in times of crisis and periods of growth.

Preface

Edited by Jean-Philippe Touffut

Subjects: economics and finance, money and banking

Extract

This volume is one of a series arising from the conferences organized by the Cournot Centre for Economic Studies, Paris. These conferences explore contemporary issues in economics, with particular focus on Europe. Speakers, along with other participants and members of the audience, are drawn from backgrounds in academia, business, finance, labour unions, the media and national or multinational governmental and non-governmental agencies. The specific texts presented here were delivered at the ninth conference of the Cournot Centre for Economic Studies held on 30 November and 1 December 2006. xii