Financial Stability and Central Banking

Price and Financial Stability in Modern Central Banking

Central Banking , Free Banking , and Financial Crises

Agrowing literature explores the concept of free banking on both a theoretical and an historical basis. George Selgin (1988) sets out the theory of free banking and makes a compelling case that, despite the uniqueness of money, the forces of supply and demand are more conducive to monetary stability, correctly understood, than are the edicts of a central bank. Larry White (1984), focusing on th...

Central Banking and Financial Innovation

We review the literature regarding the impact of financial innovation on the monetary transmission mechanism and on the way the central bank can achieve its ultimate goal, that is to control the price level.We argue that, although the form of central bank instruments and current methods for implementing monetary policy may change, the goals that the policy makers try to achieve by employing the...

Banking Concentration, Financial Stability and Public Policy

Although widespread industry consolidation over recent decades has resulted in a decline in the number of smaller banks, there has been little overall increase in various indicators of concentration. Technological and regulatory change suggest that ongoing consolidation will continue to reduce the number of smaller banks, and that large multinational banks will play an increasing role in domest...

assessing political stability and instability in central asia and caucasus; case study, azerbaijan and kyrgyzstan

منطقه ی آسیای مرکزی وقفقاز به عنوان منطقه ای تاریخی و به دلیل دارا بودن ذخایر عظیم هیدرو کربنی از اهمیت ویژه ای برخوردار است. کشورهای این منطقه از عوامل عمده ی بی ثباتی نظیر عوامل جغرافیایی، اقتصادی، امنیتی، اجتماعی و سیاسی رنج می برند. پس از فروپاشی اتحاد جماهیر شوروی کشورهای منطقه از نعمت استقلال ناخواسته ای برخوردار شدند که مشکلات فوق را برای آن ها چندین برابر می کرد. در این روند برخی از این...