The New Art of Central Banking

  • M. L. Burstein

Table of contents

  1. Front Matter
    Pages i-xv
  2. Foundations of the New Art of Central Banking

    1. Front Matter
      Pages 1-1
    2. M. L. Burstein
      Pages 3-16
    3. M. L. Burstein
      Pages 85-100
    4. M. L. Burstein
      Pages 101-121
  3. Money and Trade Cycles Over Two Millennia: Retrospective and Prospective Views of Central Banking

  4. Back Matter
    Pages 234-260

About this book


Central banking is being turned upside down by innovations such as securitization, complex options dealings and Euro-asset transactions that are denationalizing money and making it impossible for central banks to regulate costs of capital. Nor can central banks modulate business cycles in open economies; study of banking policy and business fluctuations suggests that the 'real' importance of bank-credit changes has long been exaggerated. The new art of central banking may culminate in masterly inactivity.


bank banking money

Authors and affiliations

  • M. L. Burstein
    • 1
  1. 1.York UniversityCanada

Bibliographic information

Industry Sectors
Finance, Business & Banking