Introduction to Central Banking.
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Superior document: | SpringerBriefs in Quantitative Finance Series |
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Place / Publishing House: | Cham : : Springer International Publishing AG,, 2021. ©2021. |
Year of Publication: | 2021 |
Edition: | 1st ed. |
Language: | English |
Series: | SpringerBriefs in Quantitative Finance Series
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Physical Description: | 1 online resource (145 pages) |
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Bindseil, Ulrich. Introduction to Central Banking. 1st ed. Cham : Springer International Publishing AG, 2021. ©2021. 1 online resource (145 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier SpringerBriefs in Quantitative Finance Series Intro -- Acknowledgements -- About This Book -- Contents -- Abbreviations -- Symbols in Balance Sheets and Tables -- List of Figures -- List of Tables -- 1 Economic Accounts and Financial Systems -- 1.1 Real Economic Sectors and Basic Types of Transactions -- 1.2 The Financial Sector and Financial Transactions -- 1.2.1 Commodity Money, Financial Assets and IOU Economy -- 2 Central Banks -- 2.1 Central Banks in a Paper Standard -- 2.2 Changes to the Demand of Financial Assets in a Paper Standard -- 2.2.1 If Financial Sectors not Ready to Compensate Missing Demand for Securities -- 2.2.2 Commercial Banks Absorb Security Flow -- 2.2.3 The Central Bank Absorb Flows and Acts as Market Maker of Last Resort -- 2.3 Interbank Flows -- 2.4 Role of Commercial Banks in Money Creation -- 2.4.1 Credit Money Created by Banks -- 2.4.2 "Sovereign Money" and "Full Reserve Banking" -- 2.4.3 "Central Bank Digital Currency" (CBDC) Accessible to Non-Banks -- 3 Conventional Monetary Policy -- 3.1 Short-Term Interest Rates as the Operational Target of Monetary Policy -- 3.1.1 The Targets of Monetary Policy -- 3.1.2 The Basic Natural Rate Logic of Monetary Policy -- 3.1.3 Complicating the Basic Natural Rate Logic -- 3.1.4 Transmission Channels of Monetary Policy -- 3.2 Composition of the Central Bank Balance Sheet -- 3.2.1 Autonomous Factors -- 3.2.2 Monetary Policy Instruments -- 3.2.3 Liquidity Providing and Liquidity Absorbing Items -- 3.3 Monetary Policy Implementation Techniques -- 3.3.1 The Ceiling Approach -- 3.3.2 The Floor Approach -- 3.3.3 The Symmetric Corridor Approach -- 3.4 The Central Bank Collateral Framework -- 3.4.1 Why Collateral? -- 4 Unconventional Monetary Policy -- 4.1 Rationale and Definition of "Unconventional" Monetary Policy -- 4.2 Negative Interest Rate Policy (NIRP) -- 4.2.1 Reasons for a Lower Bound. 4.2.2 Criticism of the Negative Interest Rate Policy -- 4.3 Non-Conventional Credit Operations -- 4.4 Outright Purchase Programmes -- 4.5 Distinguishing Between Conventional, Non-Conventional, and LOLR Policies -- 5 Financial Instability -- 5.1 Liquidity, Asset Prices, and Default -- 5.2 Conditional and Unconditional Insolvency, and Bank Runs -- 5.3 Illiquidity in Credit and Dealer Markets -- 5.3.1 Credit Markets -- 5.3.2 Dealer Markets -- 5.4 Increasing Haircuts and Margin Calls -- 5.5 Interaction Between Crisis Channels -- 6 The Central Bank as Lender of Last Resort -- 6.1 Principles and Rationale for the Central Bank Acting as Lender of Last Resort -- 6.1.1 Origin and Principles of LOLR -- 6.1.2 Why Should Central Banks Be Lenders of Last Resort? -- 6.2 Forms and Propensity to Act as LOLR -- 6.2.1 Forms of LOLR -- 6.2.2 Overall Propensity of a Central Bank to Act as LOLR -- 6.3 Central Bank Collateral as a Key LOLR Parameter in a Simple Bank Run Model -- 6.3.1 A Bank Run Model with Binary Levels of Asset Liquidity -- 6.3.2 The Model with Continuous Asset Liquidity -- 6.4 Conclusions -- 7 International Monetary Frameworks -- 7.1 Why Do Fixed Exchange Rates Persist? -- 7.2 Past International Monetary Frameworks -- 7.2.1 The Gold Standard -- 7.2.2 The Bretton Woods System -- 7.3 International Monetary Frameworks of the Present -- 7.3.1 Fixed Exchange Rate System-Paper Standard -- 7.3.2 Flexible Exchange Rate Systems -- 7.3.3 The European Monetary Union -- 7.3.4 Foreign Reserves -- References. Description based on publisher supplied metadata and other sources. Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries. Electronic books. Fotia, Alessio. Print version: Bindseil, Ulrich Introduction to Central Banking Cham : Springer International Publishing AG,c2021 9783030708832 ProQuest (Firm) https://ebookcentral.proquest.com/lib/oeawat/detail.action?docID=6627528 Click to View |
language |
English |
format |
eBook |
author |
Bindseil, Ulrich. |
spellingShingle |
Bindseil, Ulrich. Introduction to Central Banking. SpringerBriefs in Quantitative Finance Series Intro -- Acknowledgements -- About This Book -- Contents -- Abbreviations -- Symbols in Balance Sheets and Tables -- List of Figures -- List of Tables -- 1 Economic Accounts and Financial Systems -- 1.1 Real Economic Sectors and Basic Types of Transactions -- 1.2 The Financial Sector and Financial Transactions -- 1.2.1 Commodity Money, Financial Assets and IOU Economy -- 2 Central Banks -- 2.1 Central Banks in a Paper Standard -- 2.2 Changes to the Demand of Financial Assets in a Paper Standard -- 2.2.1 If Financial Sectors not Ready to Compensate Missing Demand for Securities -- 2.2.2 Commercial Banks Absorb Security Flow -- 2.2.3 The Central Bank Absorb Flows and Acts as Market Maker of Last Resort -- 2.3 Interbank Flows -- 2.4 Role of Commercial Banks in Money Creation -- 2.4.1 Credit Money Created by Banks -- 2.4.2 "Sovereign Money" and "Full Reserve Banking" -- 2.4.3 "Central Bank Digital Currency" (CBDC) Accessible to Non-Banks -- 3 Conventional Monetary Policy -- 3.1 Short-Term Interest Rates as the Operational Target of Monetary Policy -- 3.1.1 The Targets of Monetary Policy -- 3.1.2 The Basic Natural Rate Logic of Monetary Policy -- 3.1.3 Complicating the Basic Natural Rate Logic -- 3.1.4 Transmission Channels of Monetary Policy -- 3.2 Composition of the Central Bank Balance Sheet -- 3.2.1 Autonomous Factors -- 3.2.2 Monetary Policy Instruments -- 3.2.3 Liquidity Providing and Liquidity Absorbing Items -- 3.3 Monetary Policy Implementation Techniques -- 3.3.1 The Ceiling Approach -- 3.3.2 The Floor Approach -- 3.3.3 The Symmetric Corridor Approach -- 3.4 The Central Bank Collateral Framework -- 3.4.1 Why Collateral? -- 4 Unconventional Monetary Policy -- 4.1 Rationale and Definition of "Unconventional" Monetary Policy -- 4.2 Negative Interest Rate Policy (NIRP) -- 4.2.1 Reasons for a Lower Bound. 4.2.2 Criticism of the Negative Interest Rate Policy -- 4.3 Non-Conventional Credit Operations -- 4.4 Outright Purchase Programmes -- 4.5 Distinguishing Between Conventional, Non-Conventional, and LOLR Policies -- 5 Financial Instability -- 5.1 Liquidity, Asset Prices, and Default -- 5.2 Conditional and Unconditional Insolvency, and Bank Runs -- 5.3 Illiquidity in Credit and Dealer Markets -- 5.3.1 Credit Markets -- 5.3.2 Dealer Markets -- 5.4 Increasing Haircuts and Margin Calls -- 5.5 Interaction Between Crisis Channels -- 6 The Central Bank as Lender of Last Resort -- 6.1 Principles and Rationale for the Central Bank Acting as Lender of Last Resort -- 6.1.1 Origin and Principles of LOLR -- 6.1.2 Why Should Central Banks Be Lenders of Last Resort? -- 6.2 Forms and Propensity to Act as LOLR -- 6.2.1 Forms of LOLR -- 6.2.2 Overall Propensity of a Central Bank to Act as LOLR -- 6.3 Central Bank Collateral as a Key LOLR Parameter in a Simple Bank Run Model -- 6.3.1 A Bank Run Model with Binary Levels of Asset Liquidity -- 6.3.2 The Model with Continuous Asset Liquidity -- 6.4 Conclusions -- 7 International Monetary Frameworks -- 7.1 Why Do Fixed Exchange Rates Persist? -- 7.2 Past International Monetary Frameworks -- 7.2.1 The Gold Standard -- 7.2.2 The Bretton Woods System -- 7.3 International Monetary Frameworks of the Present -- 7.3.1 Fixed Exchange Rate System-Paper Standard -- 7.3.2 Flexible Exchange Rate Systems -- 7.3.3 The European Monetary Union -- 7.3.4 Foreign Reserves -- References. |
author_facet |
Bindseil, Ulrich. Fotia, Alessio. |
author_variant |
u b ub |
author2 |
Fotia, Alessio. |
author2_variant |
a f af |
author2_role |
TeilnehmendeR |
author_sort |
Bindseil, Ulrich. |
title |
Introduction to Central Banking. |
title_full |
Introduction to Central Banking. |
title_fullStr |
Introduction to Central Banking. |
title_full_unstemmed |
Introduction to Central Banking. |
title_auth |
Introduction to Central Banking. |
title_new |
Introduction to Central Banking. |
title_sort |
introduction to central banking. |
series |
SpringerBriefs in Quantitative Finance Series |
series2 |
SpringerBriefs in Quantitative Finance Series |
publisher |
Springer International Publishing AG, |
publishDate |
2021 |
physical |
1 online resource (145 pages) |
edition |
1st ed. |
contents |
Intro -- Acknowledgements -- About This Book -- Contents -- Abbreviations -- Symbols in Balance Sheets and Tables -- List of Figures -- List of Tables -- 1 Economic Accounts and Financial Systems -- 1.1 Real Economic Sectors and Basic Types of Transactions -- 1.2 The Financial Sector and Financial Transactions -- 1.2.1 Commodity Money, Financial Assets and IOU Economy -- 2 Central Banks -- 2.1 Central Banks in a Paper Standard -- 2.2 Changes to the Demand of Financial Assets in a Paper Standard -- 2.2.1 If Financial Sectors not Ready to Compensate Missing Demand for Securities -- 2.2.2 Commercial Banks Absorb Security Flow -- 2.2.3 The Central Bank Absorb Flows and Acts as Market Maker of Last Resort -- 2.3 Interbank Flows -- 2.4 Role of Commercial Banks in Money Creation -- 2.4.1 Credit Money Created by Banks -- 2.4.2 "Sovereign Money" and "Full Reserve Banking" -- 2.4.3 "Central Bank Digital Currency" (CBDC) Accessible to Non-Banks -- 3 Conventional Monetary Policy -- 3.1 Short-Term Interest Rates as the Operational Target of Monetary Policy -- 3.1.1 The Targets of Monetary Policy -- 3.1.2 The Basic Natural Rate Logic of Monetary Policy -- 3.1.3 Complicating the Basic Natural Rate Logic -- 3.1.4 Transmission Channels of Monetary Policy -- 3.2 Composition of the Central Bank Balance Sheet -- 3.2.1 Autonomous Factors -- 3.2.2 Monetary Policy Instruments -- 3.2.3 Liquidity Providing and Liquidity Absorbing Items -- 3.3 Monetary Policy Implementation Techniques -- 3.3.1 The Ceiling Approach -- 3.3.2 The Floor Approach -- 3.3.3 The Symmetric Corridor Approach -- 3.4 The Central Bank Collateral Framework -- 3.4.1 Why Collateral? -- 4 Unconventional Monetary Policy -- 4.1 Rationale and Definition of "Unconventional" Monetary Policy -- 4.2 Negative Interest Rate Policy (NIRP) -- 4.2.1 Reasons for a Lower Bound. 4.2.2 Criticism of the Negative Interest Rate Policy -- 4.3 Non-Conventional Credit Operations -- 4.4 Outright Purchase Programmes -- 4.5 Distinguishing Between Conventional, Non-Conventional, and LOLR Policies -- 5 Financial Instability -- 5.1 Liquidity, Asset Prices, and Default -- 5.2 Conditional and Unconditional Insolvency, and Bank Runs -- 5.3 Illiquidity in Credit and Dealer Markets -- 5.3.1 Credit Markets -- 5.3.2 Dealer Markets -- 5.4 Increasing Haircuts and Margin Calls -- 5.5 Interaction Between Crisis Channels -- 6 The Central Bank as Lender of Last Resort -- 6.1 Principles and Rationale for the Central Bank Acting as Lender of Last Resort -- 6.1.1 Origin and Principles of LOLR -- 6.1.2 Why Should Central Banks Be Lenders of Last Resort? -- 6.2 Forms and Propensity to Act as LOLR -- 6.2.1 Forms of LOLR -- 6.2.2 Overall Propensity of a Central Bank to Act as LOLR -- 6.3 Central Bank Collateral as a Key LOLR Parameter in a Simple Bank Run Model -- 6.3.1 A Bank Run Model with Binary Levels of Asset Liquidity -- 6.3.2 The Model with Continuous Asset Liquidity -- 6.4 Conclusions -- 7 International Monetary Frameworks -- 7.1 Why Do Fixed Exchange Rates Persist? -- 7.2 Past International Monetary Frameworks -- 7.2.1 The Gold Standard -- 7.2.2 The Bretton Woods System -- 7.3 International Monetary Frameworks of the Present -- 7.3.1 Fixed Exchange Rate System-Paper Standard -- 7.3.2 Flexible Exchange Rate Systems -- 7.3.3 The European Monetary Union -- 7.3.4 Foreign Reserves -- References. |
isbn |
9783030708849 9783030708832 |
callnumber-first |
H - Social Science |
callnumber-subject |
HG - Finance |
callnumber-label |
HG1-9999 |
callnumber-sort |
HG 11 49999 |
genre |
Electronic books. |
genre_facet |
Electronic books. |
url |
https://ebookcentral.proquest.com/lib/oeawat/detail.action?docID=6627528 |
illustrated |
Not Illustrated |
oclc_num |
1253554735 |
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Introduction to Central Banking. |
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