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03332aam a2200385 i 4500 001 51A1282E2E0111EFA856D47D28ECA4DB 003 SILO 005 20240619010048 008 220811s2022 enka b 001 0 eng 010 $a 2022944521 020 $a 1803926597 020 $a 9781803926599 035 $a (OCoLC)1314052205 040 $a DLC $b eng $e rda $c DLC $d UKMGB $d OCLCF $d YDX $d BDX $d MUU $d FIE $d SILO 042 $a pcc 043 $a e-uk--- $a e-uk--- 050 00 $a HG2563 $b .W66 2022 100 1 $a Wood, John H. $q (John Harold), $e author. 245 12 $a A comparative history of central bank behavior : $b consistency in monetary policy in the US and UK / $c John H. Wood, Reynolds Professor of Economics, Emeritus, Wake Forest University, USA. 264 1 $a Cheltenham, UK ; $b Edward Elgar Publishing, $c [2022] 300 $a ix, 301 pages : $b illustrations ; $c 24 cm 504 $a Includes bibliographical references (pages 275-292) and index. 520 $a Preface 1. Governments and their banks 2. Aristocratic government and the Bank of England during the Age of Reform 3. The commercial crisis of 1847 4. The Bank of England and the Great Depression 5. The Bank of England after the Great Depression 6. American monetary policy in the nineteenth century 7. The Federal Reserve and the Great Depression 8. The Great Recession 9. The politics of famine 10. Endless wars 11. Summary: government and the public References Index. 520 $a It is widely believed that central banks have grown (the Bank of England) or were established (the Federal Reserve) to pursue the twin objectives of monetary and price stability. But why should they? Central bankers are people, too, whose behavior is presumably determined, like the rest of us, by their incentives and the information available to them. The author explores this question. Two sets of data confirm the reservations. Central banks have often worsened, even initiated, monetary instabilities by bailing out the risk-takers and their effects on prices, which depending on the quantities of money created by central banks, have often been catastrophic. The evidence suggests that central bankers have really been in business to support the politically powerful upon whose favors they depend, particularly high-spending governments and needy financial institutions. The book consists of several examples of this behavior and its consistency during wars and financial crises in the UK and US over the course of the last two centuries. Professors and students of finance will find A Comparative History of Central Bank Behavior to be a compelling and thoughtful exploration of how central banks have historically responded to and influenced financial markets. -- $c Provided by publisher. 650 0 $a Banks and banking, Central $z United States. 650 0 $a Banks and banking, Central $z Great Britain. 650 0 $a Monetary policy $z United States. 650 0 $a Monetary policy $z Great Britain. 650 7 $a Banks and banking, Central. $2 fast $0 (OCoLC)fst00827036 650 7 $a Monetary policy. $2 fast $0 (OCoLC)fst01025230 651 7 $a Great Britain. $2 fast $0 (OCoLC)fst01204623 651 7 $a United States. $2 fast $0 (OCoLC)fst01204155 941 $a 1 952 $l OVUX522 $d 20240619011427.0 956 $a http://locator.silo.lib.ia.us/search.cgi?index_0=id&term_0=51A1282E2E0111EFA856D47D28ECA4DBInitiate Another SILO Locator Search