The Changing Fortunes of Central Banking

Understanding the changing role of central banks and their recent novel policies is essential for analysing many economic and financial issues, ranging from financial regulation and crisis, to exchange rate dynamics and regime changes, and QE and prolonged low interest rates. This book features contributions by the world's leading experts on central banking, providing in accessible essays a fascinating review of today's key issues for central banks. Luminaries including Stephen Cecchetti, Takatoshi Ito, Anil Kashyap, Mervyn King, Donald Kohn, Otmar Issing and Hyun Shin are joined by Charles Goodhart of the London School of Economics and Political Science, whose many achievements in the field of central banking are honoured as the inspiration for this book. The Changing Fortunes of Central Banking discusses the developing role of central banks in seeking monetary and financial stabilisation, while also giving suggestions for model strategies. This comprehensive review will appeal to central bankers, financial supervisors and academics.

Philipp Hartmann is Deputy Director General of the research department at the European Central Bank, which he helped to build from its beginning. He is also a Fellow of the Centre for Economic Policy Research. He has published research on financial, monetary and international issues in several books and numerous journal articles, and he serves as an associate editor of the Journal of Financial Stability. His policy work has been published in many official reports and discussed in fora including the ECOFIN Council, the ECB Governing Council and the Basel Committee on Banking Supervision.

Haizhou Huang is a Managing Director at the China International Capital Corporation. He is also a Special-Term Professor of Finance at both PBC School of Finance, Tsinghua University and Shanghai Advanced Institute of Finance. He has published in leading academic and policy journals, including American Economic Review, European Economic Review, the Journal of Monetary Economics and Review of Finance.

Dirk Schoenmaker is Professor of Banking and Finance at the Rotterdam School of Management, Erasmus Universiteit Rotterdam, and a Senior Fellow at the Brussels-based think tank Bruegel. He is also a member of the Advisory Scientific Committee of the European Systemic Risk Board at the ECB and a Research Fellow at the Centre for European Policy Research (CEPR). He has published in the areas of central banking, financial supervision and stability, European financial integration and sustainable finance.