Már Gudmundsson, Governor, Central Bank of Iceland: Comments on Harold James: Central Banks: Between Internationalisation and Domestic Political Control
comments, I would like to focus on four key points that I took away from Professor James’ paper: 1. Autonomous or independent central banks are more likely to exist in federal systems of government. 2. Central banks ’ status and independence are subject to cycles related to financial and economic cr...
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ftciteseerx:oai:CiteSeerX.psu:10.1.1.225.4512 2023-05-15T16:49:52+02:00 Már Gudmundsson, Governor, Central Bank of Iceland: Comments on Harold James: Central Banks: Between Internationalisation and Domestic Political Control It Professor Harold James In The Pennsylvania State University CiteSeerX Archives application/pdf http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.225.4512 http://www.bis.org/events/conf100624/gudmundssoncomms.pdf en eng http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.225.4512 http://www.bis.org/events/conf100624/gudmundssoncomms.pdf Metadata may be used without restrictions as long as the oai identifier remains attached to it. http://www.bis.org/events/conf100624/gudmundssoncomms.pdf text ftciteseerx 2016-01-07T18:28:26Z comments, I would like to focus on four key points that I took away from Professor James’ paper: 1. Autonomous or independent central banks are more likely to exist in federal systems of government. 2. Central banks ’ status and independence are subject to cycles related to financial and economic crises. 3. There is a tension between international co-operation among central banks and domestic political control that becomes more pronounced in the aftermath of a crisis. 4. As we currently find ourselves in the aftermath of a deep financial crisis, the situation will be more challenging for central banks than it has been in the recent past. They face more critical domestic scrutiny, and there is a larger risk that central bank independence will be undermined and central bank cooperation questioned. All of the above points are convincingly argued and well illustrated by the case study of European monetary integration, which is interesting in its own right. However, I think that Text Iceland Unknown |
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comments, I would like to focus on four key points that I took away from Professor James’ paper: 1. Autonomous or independent central banks are more likely to exist in federal systems of government. 2. Central banks ’ status and independence are subject to cycles related to financial and economic crises. 3. There is a tension between international co-operation among central banks and domestic political control that becomes more pronounced in the aftermath of a crisis. 4. As we currently find ourselves in the aftermath of a deep financial crisis, the situation will be more challenging for central banks than it has been in the recent past. They face more critical domestic scrutiny, and there is a larger risk that central bank independence will be undermined and central bank cooperation questioned. All of the above points are convincingly argued and well illustrated by the case study of European monetary integration, which is interesting in its own right. However, I think that |
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The Pennsylvania State University CiteSeerX Archives |
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It Professor Harold James In |
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It Professor Harold James In Már Gudmundsson, Governor, Central Bank of Iceland: Comments on Harold James: Central Banks: Between Internationalisation and Domestic Political Control |
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It Professor Harold James In |
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It Professor |
title |
Már Gudmundsson, Governor, Central Bank of Iceland: Comments on Harold James: Central Banks: Between Internationalisation and Domestic Political Control |
title_short |
Már Gudmundsson, Governor, Central Bank of Iceland: Comments on Harold James: Central Banks: Between Internationalisation and Domestic Political Control |
title_full |
Már Gudmundsson, Governor, Central Bank of Iceland: Comments on Harold James: Central Banks: Between Internationalisation and Domestic Political Control |
title_fullStr |
Már Gudmundsson, Governor, Central Bank of Iceland: Comments on Harold James: Central Banks: Between Internationalisation and Domestic Political Control |
title_full_unstemmed |
Már Gudmundsson, Governor, Central Bank of Iceland: Comments on Harold James: Central Banks: Between Internationalisation and Domestic Political Control |
title_sort |
már gudmundsson, governor, central bank of iceland: comments on harold james: central banks: between internationalisation and domestic political control |
url |
http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.225.4512 http://www.bis.org/events/conf100624/gudmundssoncomms.pdf |
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Iceland |
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Iceland |
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http://www.bis.org/events/conf100624/gudmundssoncomms.pdf |
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http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.225.4512 http://www.bis.org/events/conf100624/gudmundssoncomms.pdf |
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