Introduction to Central Banking

This book provides a concise introduction to the practical implementation of monetary policy by modern central banks, describing conventional and unconventional instruments, and the role of central banks in ensuring financial stability and as last resort lenders. It is suitable for professionals, bachelors, and masters students of economics, with prerequisites including a general idea of economic institutions, macroeconomics, and monetary economics.

Format: Paperback / softback
Length: 128 pages
Publication date: 19 May 2021
Publisher: Springer Nature Switzerland AG

This comprehensive open-access book provides a concise yet thorough introduction to the practical implementation of monetary policy by modern central banks. It delves into the conventional tools employed in advanced economies, as well as the unconventional instruments that have gained widespread adoption since the financial crisis of 2007–2008. By shedding light on the crucial role of central banks in ensuring financial stability and serving as last resort lenders, the book also offers an overview of the international monetary framework. A flow-of-funds framework is employed throughout to effectively capture this essential dimension in a consistent and unified manner, making it a unique and accessible resource on central banking and monetary policy.

Designed with both professionals and undergraduates and masters students of economics in mind, this book serves as an excellent resource for courses focused on economic policy. While a general understanding of an economy's economic institutions and knowledge of macroeconomics and monetary economics are useful prerequisites, readers do not necessarily need to be familiar with specific macroeconomic models.

By exploring the intricacies of monetary policy implementation, this book equips readers with the knowledge and tools necessary to understand the role of central banks in shaping economic outcomes and promoting financial stability. It serves as a valuable resource for scholars, policymakers, and anyone interested in gaining a deeper understanding of the complex world of central banking and monetary policy.

Weight: 454g
Dimension: 235 x 155 (mm)
ISBN-13: 9783030708832
Edition number: 1st ed. 2021