Abstract
The latest crisis brought a rethinking, both of the arrangements for the defence of stability and of the role of central banks. The collapse of finance and the rise in unemployment were followed by two developments: a reaffirmation of the flexibility of monetary policy and the assignment to central banks of greater responsibility in the care of the financial industry.
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Notes
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© 2015 Pierluigi Ciocca
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Ciocca, P. (2015). A Return to Central Banking. In: Stabilising Capitalism. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9781137555519_8
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DOI: https://doi.org/10.1057/9781137555519_8
Publisher Name: Palgrave Macmillan, London
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