Elgar Encyclopedia of Central Banking

Rochon, Louis-Philippe; Rossi, Sergio

Elgar Encyclopedia of Central Banking

Edited by Louis-Philippe Rochon and Sergio Rossi

Abstract: The Elgar Encyclopedia of Central Banking provides definitive and comprehensive encyclopedic coverage on central banking and monetary theory and policy. Containing close to 350 entries from specially commissioned experts in their fields, elements of past and current monetary policies are described and a critical assessment of central bank practices is presented.

Keywords: Central Banking; Financial Crises; Monetary Economics; Monetary Policy; Money And Banking (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035330140
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Chapters in this book:

100% money: Jonathan Massonnet
African Monetary Union: Salewa ‘Yinka Olawoye
Amsterdamse Wisselbank: Dirk Bezemer
Asset management: Neil M. Lancastle
Asset-price inflation: David Colander
Asset-based reserve requirements: Aleksandr V. Gevorkyan
Bagehot rule: Thorvald Grung Moe
Bagehot, Walter: Andrea Pacella and Riccardo Realfonzo
Bancor: Pietro Alessandrini
Bank Act of 1844: Xavier Bradley
Bank capital and the new credit multiplier: Yannis Panagopoulos and Aristotelis Spiliotis
Bank deposit insurance: Claudia Maya
Bank deposits: Oliver Simon Baer
Bank for International Settlements: Felix Mallin
Bank money: Oliver Simon Baer
Bank of Canada: Mario Seccareccia
Bank of England: Philip Arestis
Bank of Italy: Alessandro Caiani
Bank of Japan: Takashi Yagi
Bank run: Virginie Monvoisin
Banking and Currency Schools: Stefano Figuera
Banking supervision: Ruxandra Pavelchievici
Banque de France: Claude Gnos
Barings Bank: Robert H. Koehn
Basel Agreements: Fernando J. Cardim de Carvalho
Bernanke, Ben Shalom: Jamie Morgan and Brendan Sheehan
Biddle, Nicholas: Nathaniel Cline
BIS macro-prudential approach: Ivo Maes
Bitcoin: Edoardo Beretta and Roberto Gorini
Black hole: Wesley C. Marshall
Bretton Woods regime: Omar F. Hamouda
BRICS common currency: Sergio Rossi
Bubble: Alicia Girón
Bubble Act: William E. McColloch
Bullionist debates: Lefteris Tsoulfidis
Burns, Arthur Frank: James Forder
Capital controls: Kevin P. Gallagher
Capital flight: Emiliano Libman
Capital requirements: Fabio S. Panzera
Carney, Mark: Jim Stanford
Carry trade: Daniela Gabor
Cash: Oliver Simon Baer
Central bank as fiscal agent of the Treasury: Eric Tymoigne
Central bank bills: Aleksandr V. Gevorkyan
Central bank credibility: Emmanuel Carré
Central bank digital currencies: Vadim Grishchenko and Vasily Tkachev
Central bank independence: Arne Heise
Central bank money: Andrea Terzi
Central banking and financial stability: Sergio Rossi
Central banking and power: Guillaume Vallet
Central banking and social conflict: David M. Fields
Central banking, race and gender: Clara Zanon Brenck
Central banks and the zero-carbon transition: Robert Guttmann
Chartalism: Charles Albert Eric Goodhart
Chicago Plan: Jonathan Massonnet
Classical dichotomy: David M. Fields
Clearing system: Edoardo Beretta
Climate change and financial instability: Giada Valsangiacomo
Collateral: Vera Dianova
Commodity money: Aris Papageorgiou and Lefteris Tsoulfidis
Consumer price indices: James Forder
Contagion: Sebastian Weyih
Contested terrain: Gerald Epstein
Convertibility law: Juan Matías De Lucchi
Core inflation: Vidhura S. Tennekoon
Corridor and floor systems: Andrea Terzi
Cost channel of monetary policy: Antonino Lofaro
COVID-19 and central bank responses: Salewa ‘Yinka Olawoye
Credibility and reputation: Dany Lang
Credit bubble: Steve Keen
Credit creation: Richard A. Werner
Credit divisor: Greg Hanngsen
Credit easing: Richard A. Werner
Credit guidance: Richard A. Werner
Credit rationing: Arne Heise
Cross-border retail banking: Harald Sander
Cryptocurrencies: Edoardo Beretta and Roberto Gorini
Currency board: Jean-François Ponsot
Currency crisis: Brenda Spotton Visano
Currency hierarchy: Eric Tymoigne
De-dollarization: Sergio Rossi
Debasement: Lefteris Tsoulfidis
Debt crisis: Brenda Spotton Visano
Debt deflation: Steve Keen
Decoupling: Zoltán Szalai
Deleveraging: Domenica Tropeano
Deutsche Bundesbank: Jörg Bibow
Development banks: Wesley C. Marshall
Digital dollar: Jörg Bibow
Digital euro: Giuseppe Mastromatteo
Digital pound: Plamen Ivanov and Richard A. Werner
Digital yuan: Hui Yuan
Dollar hegemony: David M. Fields
Dollarization: Mehdi Ben Guirat and Louis-Philippe Rochon
Draghi, Mario: Stefano Lucarelli
Effective lower bound: Fabio S. Panzera
Efficient markets theory: Robert W. Dimand
Emergency liquidity assistance: Andrea Carrera
Endogenous money: Giancarlo Bertocco
Environmental change and the international lender of last resort: Basil Oberholzer
Euro-area crisis: Sergio Rossi
European monetary union: Claude Gnos
Exchange-rate interventions: Alexander Mihailov
Exchange-rate pass-through: Carlos Schönerwald
Exchange-rate targeting: Luigi Ventimiglia
Fear of floating: Juan Barredo Zuriarrain
Federal Open Market Committee: Daniel H. Neilson
Federal Reserve System: Ruxandra Pavelchievici
Fiat money: Edward J. Nell
Finance and economic growth: Eckhard Hein
Financial bubble: Fabio S. Panzera
Financial crisis: Robert Guttmann
Financial deregulation: Eugenia Correa
Financial innovation: Daniela Tavasci
Financial instability: Fabio S. Panzera
Financial instability hypothesis: Jan Toporowski
Financial integration: Marco Veronese Passarella
Financial literacy: Robert H. Scott
Financial repression: Juan Matías De Lucchi
Financial supervision: Fabio S. Panzera
Financial transactions tax: Noemi Levy-Orlik
Financialization: Özgür Orhangazi
First and Second Banks of the United States: Jane Knodell
Fisher effect: Angel Asensio
Flow of funds: Eugenio Caverzasi and Antoine Godin
Forward guidance: Vera Dianova
Fractional reserve banking: Giancarlo Bertocco
Free banking: Stefano Figuera
Friedman rule: Alexander Mihailov
Gibson’s paradox: Alejandro Fiorito
Glass–Steagall Act: Aldo Barba
Goodhart, Charles: Daniyal Khan
Goodhart’s law: Charles Albert Eric Goodhart
Greedflation: Sergio Rossi
Green currency: Wesley C. Marshall
Green finance: Basil Oberholzer
Greenbacks: Robert W. Parenteau
Greenspan, Alan: Jamie Morgan and Brendan Sheehan
Gresham’s law: Mario Seccareccia
Hayek, Friedrich Augustus von: Maria Alejandra Caporale Madi
High-powered money: Maria Alejandra Caporale Madi
Housing bubble: Theodore Koutsobinas
Hume, David: Nathan Tankus
Hyperinflation: Esteban Pérez Caldentey
Immaculate disinflation: Nathaniel Cline and Nathan Perry
Impossible trinity: Ricardo Summa
Inconvertibility: Nikolay Nenovsky
Ineffectiveness of monetary policy: Louis-Philippe Rochon
Inflation: Alvaro Cencini
Inflation – conflict: Ettore Gallo
Inflation-first policy: Guillermo Matamoros
Inflation measurement: Sergio Rossi
Inflation targeting: Sergio Rossi
Inflation targeting and income distribution: Sylvio Antonio Kappes
Ingot Plan: Germán D. Feldman
Inside and outside money: James Andrew Felkerson
Interdependence of money demand and supply: Duccio Cavalieri
Interest rate pass-through: Natalia Andries
Interest rate rules – parking-it approach: Louis-Philippe Rochon
Interest rate rules – post-Keynesian: Mark Setterfield
Interest rates setting: Angel Asensio
Interest rates term structure: James Andrew Felkerson
International gold standard: Ramaa Vasudevan
International Monetary Fund: Eugenio Caverzasi
International reserves: Jean-François Ponsot
International settlement institution: Sergio Rossi
Investment banking: Jamie Morgan and Brendan Sheehan
Kansas City rule: Eric Tymoigne
Kemmerer, Edwin Walter: Rebeca Gomez Betancourt
Keynes as monetary adviser: Anna Carabelli
Keynes as monetary theorist: Luca Fantacci and Maria Cristina Marcuzzo
Keynes Plan: Mario Cedrini
King, Mervyn: Olivier Giovannoni
Lagarde, Christine: Andrea Carrera
Lamfalussy, Alexandre: Ivo Maes
Lavoie, Marc: Louis-Philippe Rochon
Law, John: Nikolay Nenovsky
Lender of last resort: Domenica Tropeano
Liability management: Maria Alejandra Caporale Madi
LIBOR: Alexis Stenfors
Liquidity trap: Sheila C. Dow
Local complementary currencies: Guillaume Vallet
Long-term refinancing operations: Benjamin Schmidt and Peter Spahn
Macroeconomic regulations: Jonathan Massonnet
Macro-prudential policies: Fabio S. Panzera
Macro-prudential tools: Helene Schuberth
Market neutrality: Zoltán Szalai
Marx, Karl: William E. McColloch
Merchant banks: Marcelo Milan
Metallism: Devin T. Rafferty
Minsky moment: Helene Schuberth
Minsky, Hyman Philip: Marco Veronese Passarella
Modern Money Theory: Eugenio Caverzasi and Antoine Godin
Modigliani–Miller theorem: Tracy Mott
Monetarism: Alvaro Cencini
Monetary aggregates: Jonathan Massonnet
Monetary approach to the balance of payments: Alexander Mihailov
Monetary circuit: Louis-Philippe Rochon
Monetary circuit – French: Maurizio Solari
Monetary circuit – Italian: Riccardo Realfonzo
Monetary circuit – quantum: Sergio Rossi
Monetary History of the United States, 1867–1960: Ruxandra Pavelchievici
Monetary policy and digital currencies: Giuseppe Mastromatteo
Monetary policy and ecological concerns: Basil Oberholzer
Monetary policy and exchange rates: Fernanda Ultremare and Alex Wilhans Antonio Palludeto
Monetary policy and functional distribution of income: Guillermo Matamoros
Monetary policy and income distribution: Pierre Monnin
Monetary policy in a small open economy: Etelberto Ortiz
Monetary policy indicators: Theodore Koutsobinas
Monetary policy and inherent biases: Louis-Philippe Rochon
Monetary policy and secular stagnation: Maurizio Solari
Monetary policy and social responsibility: Louis-Philippe Rochon and Guillaume Vallet
Monetary policy and structural change: Antonino Lofaro
Monetary policy and wealth distribution: Omar F. Hamouda
Monetary policy and zombie corporations: Wesley C. Marshall
Monetary policy dominance: Louis-Philippe Rochon
Monetary policy implementation: Sylvio Antonio Kappes
Monetary policy implementation in Argentina: Ariel Dvoskin and Emiliano Libman
Monetary policy implementation in Australia: Peter Docherty
Monetary policy implementation in Brazil: Sylvio Antonio Kappes
Monetary policy implementation in Canada: Guillermo Matamoros
Monetary policy implementation in China: Hui Yuan
Monetary policy implementation in India: Sunanda Sen
Monetary policy implementation in Japan: Richard A. Werner
Monetary policy implementation in Nigeria: Salewa ‘Yinka Olawoye
Monetary policy implementation in Poland: Zbigniew Polański
Monetary policy implementation in Russia: Vadim Grishchenko, Vasily Tkachev and Grigory Zhirnov
Monetary policy implementation in Switzerland: Sergio Rossi
Monetary policy implementation in the euro area: Eladio Febrero and Jorge Uxó
Monetary policy implementation in the USA: Roy J. Rotheim
Monetary policy in the era of digital innovation: Valerii Borisov and Vasily Tkachev
Monetary policy instruments: Maria Alejandra Caporale Madi
Monetary policy objectives: Nathan Perry
Monetary policy transmission channels – neoclassical: Emmanuel Carré
Monetary policy transmission channels – post-Keynesian: Eladio Febrero and Jorge Uxó
Monetary sovereignty: Daniyal Khan
Monetary targeting: Helene Schuberth
Monetary theory of distribution: Massimo Pivetti
Money and credit: Antoine Godin
Money creation: Bernard Vallageas
Money creation and economic growth: Mathias Binswanger
Money doctors: Eric Helleiner
Money illusion: Giuseppe Mastromatteo and Adelmo Tedeschi
Money multiplier: John Smithin
Money neutrality: Angel Asensio
Money supply: Jo Michell and Engelbert Stockhammer
Moore, Basil John: Louis-Philippe Rochon
Narrow banking: William Miles
National Banking Acts: Nathaniel Cline
Natural rate of interest: Jonathan Massonnet
Negative rate of interest: Fabio S. Panzera
Norges Bank: Thorvald Grung Moe
Norman, Montagu: Robert W. Parenteau
Open-market operations: Nathan Perry
Open-mouth operations: Vijayaraghavan Ramanan
Operation Twist: Tracy Mott
Optimal international currency reserves: Mehdi Ben Guirat
Optimum currency area: Annina Kaltenbrunner and Engelbert Stockhammer
Original sin: Jean-François Ponsot
Output gap: Gilberto Libanio and Marco Flávio Resende
Outright monetary transactions: Vincent Grossmann-Wirth
Padoa-Schioppa, Tommaso: Fabio Masini
Pandemic Emergency Purchase Programme (PEPP): Riccardo Zolea
Pasinetti index: Sylvio Antonio Kappes
Pasinetti rule: Sylvio Antonio Kappes
Patinkin, Don: Esteban Pérez Caldentey
People’s Bank of China: Gilberto Libanio
Phillips curve: Malcolm Sawyer
Policy rates of interest: Vera Dianova
Powell, P. Jerome: Jörg Bibow
Prebisch, Raúl: Esteban Pérez Caldentey
Price-level targeting: Emmanuel Carré
Profit inflation: Maurizio Solari
Public liquidity backstop: Andrea Carrera
Purpose of central banks: Jane Knodell
Quantitative easing: Brian K. Maclean
Quantitative easing in Japan: Richard A. Werner
Quantitative easing variations and applications: Richard A. Werner
Quantity theory of credit: Richard A. Werner
Quantity theory of money: Giuseppe Mastromatteo and Adelmo Tedeschi
Quantum macroeconomics: Alvaro Cencini
Quesnay, Pierre: Muriel Dal-Pont Legrand and Dominique Torre
Random walk: Neil M. Lancastle
Real-balance effect: Jonathan Massonnet
Real bills doctrine: Philip Pilkington
Reflux mechanism: Vijayaraghavan Ramanan and Louis-Philippe Rochon
Reichsbank: Richard A. Werner
Repurchase agreement: Philip Pilkington
Reserve Bank of India: Suranjana Nabar-Bhaduri
Reserve currency: Salewa ‘Yinka Olawoye
Reserve requirements: James Andrew Felkerson
Ricardo, David: John E. King
Rist, Charles: Dominique Torre
Robinson, Joan: Louis-Philippe Rochon
Rules versus discretion: Dany Lang
Schacht, Hjalmar Horace Greeley: Edoardo Beretta
Schmitt, Bernard: Alvaro Cencini
Sellers’ inflation: Ettore Gallo
Settlement balances: Vidhura S. Tennekoon
Settlement system: Vidhura S. Tennekoon
Shadow banking: Wesley C. Marshall
Smithin rule: John Smithin
Sovereign lending: Aldo Barba
Stable coins: Edoardo Beretta and Roberto Gorini
State Bank of Pakistan: Daniyal Khan
State money: Jonathan Massonnet
Sterilization: Daniela Gabor
Strong, Benjamin: Slim Thabet
Sudden stops: Daniela Tavasci and Luigi Ventimiglia
Sveriges Riksbank: Elias Bengtsson
Swap: Benoît Nguyen
Swiss National Bank: Sergio Rossi
Systemically important financial institutions: Oliver Simon Baer
TARGET2 system: Sergio Rossi
Taylor rule: Peter Kriesler
Thornton, Henry: Aldo Barba
Time inconsistency: Angel Asensio
Tobin tax: Slim Thabet
Triffin dilemma: Jörg Bibow
Triffin, Robert: Esteban Pérez Caldentey
Twin crises: William Miles
Usury laws: Mohamed Aslam and Marie-Aimee Tourres
Volcker experiment: Giuseppe Mastromatteo and Giovanni Battista Pittaluga
Vulture fund: David Pringle
Wage–price spiral: Alexandre Le Bloc’h
White, Harry Dexter: Juan Barredo Zuriarrain
Wicksell, Knut: Jonathan Massonnet
WIR: Guillaume Vallet
Yield curve: Edward J. Nell
Yield curve control: Kristóf Lehmann
Zero-interest-rate policy: Philip Pilkington
Zero lower bound: Vera Dianova

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