Designing Central Bank Arrangements to Promote Monetary Stability

2019 ◽  
pp. 115-126
Author(s):  
Richard C. Burdekin ◽  
Thomas D. Willett
Keyword(s):  
Central Bank ◽  
Monetary Stability

Regeln, Willkür und der gute Ruf: Geldpolitik und Finanzmarkteffizienz in Deutschland, 14. bis 16. Jahrhundert

2009 ◽  
Vol 50 (2) ◽  
Author(s):  
Oliver Volckart
Keyword(s):  
Central Bank ◽  
Financial Markets ◽  
Market Performance ◽  
Monetary Policies ◽  
Monetary Stability ◽  
Functional Equivalent ◽  
The Right

AbstractThis paper examines the questions of whether and how feudal rulers were able to credibly commit to monetary stability, and of which consequences their decisions had for the efficiency of financial markets. The study reveals that princes were usually only able to commit to issuing a stable coinage in gold, but not in silver. As for silver currencies, the hypothesis is that transferring the right of coinage to an autonomous city was the functional equivalent of establishing an independent central bank. An analysis of market performance indicates that financial markets between cities that were autonomous with regard to monetary policies were significantly better integrated and more efficient than markets between cities whose currencies were supplied by a feudal ruler.

Geldordnung, Geldschöpfung und Staatsfinanzierung

2013 ◽  
Vol 62 (2) ◽  
Author(s):  
Timm Gudehus
Keyword(s):  
Central Bank ◽  
Public Debt ◽  
Balance Sheet ◽  
State Funding ◽  
The Public ◽  
Monetary Stability ◽  
Money Creation ◽  
Accounting Rules ◽  
The Right ◽  
Monetary Order

AbstractThe current paper analyses the different kinds of money creation and their contribution to state funding. It shows that profits and beneficiaries of money creation depend on the monetary order and on the accounting rules of the central bank. Due to the possibility to create scriptural money by credit in almost unlimited quantity today the main beneficiaries of the creation of money are the commercial banks. If in a new monetary order, the right to create money in limited quantity is transferred exclusively to the central bank and its accounting rules are properly adapted, substantial conversion profits arise which can be used to pay off the major part of the public debt and to fund the state without affecting monetary stability. To demonstrate the possible effects the conversion profits and future profits of money creation are calculated for the Euro-system from the consolidated balance sheet 2010.

scholarly journals IPTEKS SISTEM PELAPORAN AKUNTANSI BANK INDONESIA

2018 ◽  
Vol 2 (02) ◽  
Author(s):  
Preisia Sigar ◽  
Sintje Rondonuwu
Keyword(s):  
Monetary Policy ◽  
Central Bank ◽  
Reporting System ◽  
Accounting System ◽  
Monetary Stability ◽  
System Information ◽  
Transparency And Accountability ◽  
Accounting Policy

Bank Indonesia is the Central Bank. The Central Bank is the center of monetary policy and monetary stability in Indonesia. As a Central Bank certainly has a system in accounting reporting. Based on research conducted at BI and existing discussions, the conclusion that can be taken is that BI adheres to the system issued by the Bank Indonesia Accounting Policy (KAKBI) based on the Bank Indonesia Governor Regulation (PDGBI). Suggestion that BI continues to improve transparency and accountability so that the quality of bank Indonesia reporting system information is accurate and reliable. Keywords: accounting system, repportimg

Central Banks’ New Macroprudential Consensus

2019 ◽  
pp. 481-502
Author(s):  
Michael W. Taylor ◽  
Douglas W. Arner ◽  
Evan C. Gibson
Keyword(s):  
Financial Crisis ◽  
Central Bank ◽  
Financial Stability ◽  
Price Level ◽  
Global Financial Crisis ◽  
Central Banks ◽  
System Stability ◽  
Policy Objective ◽  
Monetary Stability ◽  
The Global Financial Crisis

The traditional central bank consensus is designed around two mandates: monetary and financial stability. Following the Great Stagflation of the 1970s, central banks’ policy objective became biased toward maintaining a low and stable rate of inflation or monetary stability. This was based on the presumption that a stable price level would achieve both monetary and financial system stability. The deemphasis on financial stability remained until the global financial crisis, when the prevailing consensus was exposed for being thoroughly inadequate. A new consensus has emerged that broadens central banks’ financial stability mandate to include macroprudential supervision. This chapter analyzes the new central bank consensus, how this has resulted in institutional redesign, and the effectiveness of discharging postcrisis financial and monetary stability mandates.

scholarly journals Economic and Monetary Union in Europe

1992 ◽  
Vol 6 (4) ◽  
pp. 31-52 ◽  
Author(s):  
Charles R Bean
Keyword(s):  
Fiscal Policy ◽  
Central Bank ◽  
Monetary Union ◽  
Fiscal Federalism ◽  
European Central Bank ◽  
Economic And Monetary Union ◽  
Common Currency ◽  
European Central ◽  
Monetary Stability

The European Council's Maastricht Agreement maps out a precise route to monetary union and the eventual introduction of a common currency. My discussion begins with a look at the general arguments for and against monetary union. I shall then discuss the proposed constitution of the European Central Bank and whether it is likely to be conducive to monetary stability, together with some of the problems posed by the transition to the new regime. Finally, I will turn to the issue of rules for the conduct of fiscal policy and the question of “fiscal federalism.”

scholarly journals Interpreting Fiscal Risk for Lack of Bank Indonesia’s Capital

2021 ◽  
Vol 28 (1) ◽  
pp. 90-101
Author(s):  
Yuli Indrawati
Keyword(s):  
Central Bank ◽  
House Of Representatives ◽  
Research Method ◽  
Analytical Approach ◽  
Economic Stability ◽  
Legal Research ◽  
State Budget ◽  
National State ◽  
Monetary Stability ◽  
Fiscal Risk

The research is focused on determining the government's obligation to meet the shortage of capital of Bank Indonesia (BI), as the central bank, in the National State Budget (APBN). The research analyzes the basis of the government's obligation to meet BI's lack of capital and a mechanism for fulfilling the government's obligations to cover BI deficiencies in line with the objectives of the APBN. This study uses a normative legal research method with a statute, interdisciplinary, and analytical approach. The result shows that the government's obligation to suffice BI's capital is intended to maintain BI's sustainability so that BI can continue to carry out its responsibilities and obligations to maintain monetary stability. Monetary stability has implications for economic stability and increases in people's welfare. In addition, the fulfilment of government obligations is contingent, limited and final. This obligation will only be born if BI is no longer able to overcome the lack of capital. The cause of the lack of capital is beyond BI's control, as evidenced by the results of an examination by the Supreme Audit Agency and requires the approval of the House of Representatives.

Was für eine Europäische Verfassung?

2005 ◽  
Vol 35 (139) ◽  
pp. 287-300 ◽  
Author(s):  
Étienne Balibar
Keyword(s):  
Central Bank ◽  
European Central Bank ◽  
Social Rights ◽  
European Constitution ◽  
Fundamental Level ◽  
European Central

The problem of a European Constitution is discussed at a fundamental level. In which way, can we speak about such a Constitution? Thearticle argues against the “postnational souveranism”, legitimating state against citizens. A new kind of citizenship is favoured based on extended social rights. The constitution now proposed contrarily makes the European Central Bank and its neoliberal policy to central and nearly unchangeable institution.

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