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The Central Bank and the Financial System

1995 Business & Economics
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Release : 1995
Genre : Business & Economics
Kind : eBook
Book Rating : 673/5 ( reviews)

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Book Synopsis The Central Bank and the Financial System by : Charles Albert Eric Goodhart

Download or read book The Central Bank and the Financial System written by Charles Albert Eric Goodhart. This book was released on 1995. Available in PDF, EPUB and Kindle. Book excerpt: As economic advisor to the Bank of England for many years, C. A. E. Goodhart is uniquely positioned to assess the role of the central bank in the modern financial system. This book brings together twenty-one of his previously published articles dealing with the changing functions of central banks over time, recent efforts to maintain price stability, and debates over specific financial regulation proposals in the UK. Although the current day-to-day operations of central banks are subject to continuous comment and frequent criticism, their structural role within the economic system as a whole has generally been accepted without much question, despite several attempts by economists in recent decades to challenge the value of the institution. C. A. E. Goodhart brings his knowledge of both the theoretical arguments and the actual working of central banks to bear in these essays. Part I looks at the general purposes and functions of central banks within the financial system and their evolution over time. Part II concentrates on the current objectives and operations of central banks, and the maintenance of price stability in particular. Part III analyzes the broader issues of financial regulation.

House Prices and the Macroeconomy

2007 Business & Economics
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Release : 2007
Genre : Business & Economics
Kind : eBook
Book Rating : 594/5 ( reviews)

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Book Synopsis House Prices and the Macroeconomy by : Charles Goodhart

Download or read book House Prices and the Macroeconomy written by Charles Goodhart. This book was released on 2007. Available in PDF, EPUB and Kindle. Book excerpt: House price bubbles, and their aftermath, have become a focus of macro-economic policy concern in most developed countries. This book elucidates the two-way relationship between house-price fluctuations and economic fundamentals. Housing has many features which make it distinct from other assets, like equity. Real estate is not only an asset but also a durable consumption good for households, providing shelter and other housing services. As a result, a house is often the largest and most important asset of households and therefore accounts for a major share of household wealth. Similarly a large share of bank assets is tied to housing values. House price fluctuations may, therefore, have a major effect on economic activity and the soundness of the financial system. Following an introductory chapter, the book is structured into three parts. The first demonstrates the importance of house prices as determinants or indicators of inflation and economic activity. The second focuses on the inter-relationships between bank credit extension and housing prices, and how bubbles can lead to financial crises. The third discusses resultant public policy issues, such as whether, and how, to include housing prices in a general inflation index, and how to restrain the housing/bank credit cycle.

Hot Property

2019-06-14 Business & Economics
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Release : 2019-06-14
Genre : Business & Economics
Kind : eBook
Book Rating : 743/5 ( reviews)

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Book Synopsis Hot Property by : Rob Nijskens

Download or read book Hot Property written by Rob Nijskens. This book was released on 2019-06-14. Available in PDF, EPUB and Kindle. Book excerpt: This open access book discusses booming housing markets in cities around the globe, and the resulting challenges for policymakers and central banks. Cities are booming everywhere, leading to a growing demand for urban housing. In many cities this demand is out-pacing supply, which causes house prices to soar and increases the pressure on rental markets. These developments are posing major challenges for policymakers, central banks and other authorities responsible for ensuring financial stability, and economic well-being in general.This volume collects views from high-level policymakers and researchers, providing essential insights into these challenges, their impact on society, the economy and financial stability, and possible policy responses. The respective chapters address issues such as the popularity of cities, the question of a credit-fueled housing bubble, the role of housing supply frictions and potential policy solutions. Given its scope, the book offers a revealing read and valuable guide for everyone involved in practical policymaking for housing markets, mortgage credit and financial stability.

Fundamental Drivers of House Prices in Advanced Economies

2018-07-18 Business & Economics
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Release : 2018-07-18
Genre : Business & Economics
Kind : eBook
Book Rating : 122/5 ( reviews)

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Book Synopsis Fundamental Drivers of House Prices in Advanced Economies by : Ms.Nan Geng

Download or read book Fundamental Drivers of House Prices in Advanced Economies written by Ms.Nan Geng. This book was released on 2018-07-18. Available in PDF, EPUB and Kindle. Book excerpt: House prices in many advanced economies have risen substantially in recent decades. But experience indicates that housing prices can diverge from their long-run equilibrium or sustainable levels, potentially followed by adjustments that impact macroeconomic and financial stability. Therefore there is a need to monitor house prices and assess whether they are sustainable. This paper focuses on fundamentals expected to drive long run trends in house prices, including institutional and structural factors. The scale of potential valuation gaps is gauged on the basis of a cross-country panel analysis of house prices in 20 OECD countries.

The Housing Boom and Bust

2009-05-12 Business & Economics
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Release : 2009-05-12
Genre : Business & Economics
Kind : eBook
Book Rating : 807/5 ( reviews)

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Book Synopsis The Housing Boom and Bust by : Thomas Sowell

Download or read book The Housing Boom and Bust written by Thomas Sowell. This book was released on 2009-05-12. Available in PDF, EPUB and Kindle. Book excerpt: Explains how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The "creative" financing of home mortgages and "creative" marketing of financial securities based on these mortgages to countries around the world, are part of the story of how a financial house of cards was built up--and then collapsed.

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