Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/25767
Appears in Collections:Economics Journal Articles
Peer Review Status: Refereed
Title: Central banking in the twenty-first century (Forthcoming/Available Online)
Authors: Dow, Sheila
Contact Email: s.c.dow@stir.ac.uk
Keywords: central banking
inflation targeting
central bank independence
Issue Date: 1-Aug-2017
Citation: Dow S (2017) Central banking in the twenty-first century (Forthcoming/Available Online), Cambridge Journal of Economics, Art. No.: bex051.
Abstract: The recent banking crisis has opened up the discourse about central banking. The purpose here is to revisit the principles of central banking and the theoretical framework for applying them in light of these changed conditions. We focus on different understandings of the economic process and how they relate to the principles of central banking, comparing the dominant technocratic approach to central banking theory with a more traditional political economy approach. We consider the recent use of ‘unconventional’ tools of monetary policy and a range of current proposals for reform of money, banking and central banking. It is argued that central banking needs a new framework which recognises the interdependencies between the conditions for monetary stability, financial stability and economic stability and between the policy measures by which these goals may be addressed.
URL: https://academic.oup.com/cje/article/doi/10.1093/cje/bex051/4057600/Central-banking-in-the-twentyfirst-century?guestAccessKey=37817a42-efce-4b19-a609-79b17d7bd222
DOI Link: http://dx.doi.org/10.1093/cje/bex051
Rights: The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study.

Files in This Item:
File Description SizeFormat 
2017 central banking cje.pdf151.92 kBAdobe PDFUnder Embargo until 31/12/2999     Request a copy

Note: If any of the files in this item are currently embargoed, you can request a copy directly from the author by clicking the padlock icon above. However, this facility is dependent on the depositor still being contactable at their original email address.



This item is protected by original copyright



Items in the Repository are protected by copyright, with all rights reserved, unless otherwise indicated.

If you believe that any material held in STORRE infringes copyright, please contact library@stir.ac.uk providing details and we will remove the Work from public display in STORRE and investigate your claim.