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Central Bank Capitalism

- Monetary Policy in Times of Crisis
Af: Joscha Wullweber Engelsk Paperback

Central Bank Capitalism

- Monetary Policy in Times of Crisis
Af: Joscha Wullweber Engelsk Paperback
Tjek vores konkurrenters priser

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.

As Joscha Wullweber shows, there has been a radical change in the state-market nexus. With governments refraining from strong and comprehensive fiscal and financial regulatory policies, central banks have become the main stabilizing force and the nodal point of financial circulation. These overburdened institutions are called on to make near-daily interventions to avert crisis. Wullweber calls this historic phase central bank capitalism. His book offers a lucid account of our current state of permanent crisis with its new dilemmas and paradoxes that pose enormous challenges to financial and economic stability.

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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.

As Joscha Wullweber shows, there has been a radical change in the state-market nexus. With governments refraining from strong and comprehensive fiscal and financial regulatory policies, central banks have become the main stabilizing force and the nodal point of financial circulation. These overburdened institutions are called on to make near-daily interventions to avert crisis. Wullweber calls this historic phase central bank capitalism. His book offers a lucid account of our current state of permanent crisis with its new dilemmas and paradoxes that pose enormous challenges to financial and economic stability.

Produktdetaljer
Sprog: Engelsk
Sider: 258
ISBN-13: 9781503639621
Indbinding: Paperback
Udgave:
ISBN-10: 1503639622
Kategori: Monetær økonomi
Udg. Dato: 13 aug 2024
Længde: 17mm
Bredde: 152mm
Højde: 228mm
Forlag: Stanford University Press
Oplagsdato: 13 aug 2024
Forfatter(e): Joscha Wullweber
Forfatter(e) Joscha Wullweber


Kategori Monetær økonomi


ISBN-13 9781503639621


Sprog Engelsk


Indbinding Paperback


Sider 258


Udgave


Længde 17mm


Bredde 152mm


Højde 228mm


Udg. Dato 13 aug 2024


Oplagsdato 13 aug 2024


Forlag Stanford University Press

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