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Central Banking (Hardcover)

Thammarak Moenjak

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ISBN 10: 1118832469 / ISBN 13: 9781118832462
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Hardcover. Understand the theories and interpret the actions of modern central banks Central Banking takes a comprehensive look at the topic of central banking, and provides readers.Shipping may be from multiple locations in the US or from the UK, depending on stock availability. 336 pages. 0.754. Bookseller Inventory # 9781118832462

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Bibliographic Details

Title: Central Banking (Hardcover)

Publication Date: 2014

Binding: Hardcover

Book Condition:New

Edition: 1st.

About this title

Synopsis:

Understand the theories and interpret the actions of modern central banks

Central Banking takes a comprehensive look at the topic of central banking, and provides readers with an understanding and insights into the roles and functions of modern central banks in advanced as well as emerging economies, theories behind their thinking, and actual operations practices. The book takes a systematic approach to the topic, while providing an accessible format and style that is appropriate for general audiences and students with only a minimal macroeconomic background. Theoretical reviews and examples of how the theories are applied in practice are presented in an easy-to-understand manner and serve as a guide for readers to further investigate specific ancillary central banking topics and as a means to make informed judgments about central bank actions. Important topics covered in the book include:

  • Evolution of central banking functions and the international monetary system
  • Theoretical backgrounds that are the foundation to the modern practice of monetary policy
  • Monetary policy regimes, including exchange rate targeting, money supply growth targeting, the risk management approach, inflation targeting, and unconventional monetary policy.
  • Actual practice in market operations and transmission mechanisms of monetary policy
  • The exchange rate and central banking
  • Theoretical backgrounds related to various dimensions of financial stability
  • Current developments with regards to sustaining financial stability
  • The future of central banking in the wake of the 2007-2010 global financial crisis
  • Case studies on relevant practical issues and key concepts in central banking

Designed as essential reading for students, market analysts, investors, and central banks' new recruits, Central Banking better positions readers to interpret the actions of central banks and to understand the complexities of their position in the global financial arena.

From the Back Cover:

Praise for Central Banking

“Thammarak Moenjak has written a remarkably cleardescription of the nature and history of central banking, withemphasis on the challenge presented by the “Great FinancialCrisis” and the complexity of markets. A useful and readable“text book” not only for a student but for theinterested public.”
—Paul Volcker, Former Chairman of the Federal Reserve

“This comprehensive textbook on central banking covers thehistory, functions, objectives, actions and future concerns ofthese institutions. It is written in clear, simple English, whichbefits a book whose intended audience extends much wider beyondexpert economists. The author’s own personal experience as aCentral Bank official in the Bank of Thailand, with spells workingboth in developed and emerging economies, has enabled him to assessthe role of Central Banks in a broad, sensible and balancedfashion. A good introduction to the subject of Central Banking,which has become increasingly important to the workings of oureconomic systems.”
—Charles Goodhart, Emeritus Professor, London School ofEconomics; Former External Member of the Bank of England’sMonetary Policy Committee

“The recent financial crises, especially the globalfinancial crisis of 2008–2009, have eroded faith in manyfinancial institutions. Surprisingly, Central Banks remain strongand respected. Indeed, a positive halo continues to hang over them.Yet, few people understand how Central Banks work. This is whyThammarak’s book is truly timely. He throws new light onthese key institutions. We are truly proud that a graduate of theLee Kuan Yew School of Public Policy has produced this informativeand enlightening book.”
—Kishore Mahbubani, Dean, Lee Kuan Yew School of PublicPolicy, National University of Singapore and author of The GreatConvergence: Asia, the West, and the Logic of One World

“The author is to be congratulated in providing anintroduction to central banking that is very well written andinformative. I am especially impressed with the coverage given tocentral banks in emerging economies and the stress which is placedon the role central banks can play in sustaining bothmonetary and financial stability.”
—Robert Dixon, Professor, University of Melbourne

“Thammarak Moenjak has written a very useful text thatprovides a broad perspective on the functions central bank performand the challenges faced in the aftermath of the global financialcrisis. Not only does he manage to blend together “old”and “new” perspectives of central banking, but also heis able to provide a holistic view of how central banks apply theirmonetary and financial stability mandates and deal with thenumerous challenges posed by zero-interest floors.”
—Charles Adams, Former Visiting Professor, Lee Kuan YewSchool of Public Policy, National University of Singapore

“Thammarak Moenjak’s book is an importantcontribution to the literature on central banking. The coverage oftopics is impressive both in terms of the theoretical coverage butalso the wide-ranging historical examples. What is especiallyexciting about this book is the fact that it is highly accessibleto a broad audience. While it will no doubt be of great use to acourse in monetary economics at the upper undergraduate or graduatelevel, it will also very likely be used in graduate courses inpublic policy schools.”
—Christopher Worswick, Full Professor and Vice Chair,Department of Economics, Carleton University

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