Institutional Separation between Supervisory and Monetary Agencies (1993)

C. A. E. Goodhart
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C. A. E. Goodhart: London School of Economics

Chapter 16 in The Central Bank and the Financial System, 1995, pp 333-413 from Palgrave Macmillan

Abstract: Abstract The early history of Central Banking led to the functions of monetary management and the role of Lender of Last Resort being combined within the nascent Central Bank (see Goodhart, 1988). Where established, (e.g. in Sweden, UK, France, Italy), the Central Bank was the government’s bank, and, until the latter part of the 19th century, generally the largest bank within the economy. As such, it was assigned the overall responsibility, explicitly or implicitly, for maintaining currency convertibility into specie, the prime function of macro-monetary management until 1913.

Keywords: Monetary Policy; Central Bank; Commercial Bank; Deposit Insurance; Lead Organiser (search for similar items in EconPapers)
Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37915-2_16

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DOI: 10.1057/9780230379152_16

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