THE AGE OF CENTRAL BANKS
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Word Count
74,500 words, Guess
Page Count
298 pages
Identifiers
- Open LibraryOL25160530M
- ISBN-139780857932136
- OCLC Control Number759161746
- Library of Congress Control Number2011925760
Classifications
- LCCHG1811 .G513 2011
Description
Curzio Giannini's history of the evolution of central banks illustrates how the most relevant institutional developments have taken place at times of widespread confidence crises and in response to deflationary pressures. The eminent and highly-renowned author provides an analytical perspective to study the evolution of central banking as an endogenous response to crisis and to the ever increasing needs of economic growth. The key argument of the analysis is that crucial innovations in the payment technology (from the invention of coinage to the development of electronic money) could not have taken place without an institution - i.e. the central bank - that could preserve confidence in the instruments used as money. According to Curzio Giannini's 'neo-institutionalist' methodological approach, social institutions are, in fact, essential in the coordination of individual decisions as they minimize transaction costs, overcome information asymmetries and deal with incomplete contracts. -- Back cover.
Subjects
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- THE AGE OF CENTRAL BANKS
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