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Introduction to Central Banking

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  • Open Access
  • © 2021

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Overview

Authors:
  1. Ulrich Bindseil

    1. Institute of Economics and Law, Macroeconomics, Technical University Berlin, Berlin, Germany

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  2. Alessio Fotia

    1. School of Business and Economics, Freie Universität Berlin, Berlin, Germany

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  • Provides a "task-oriented" view of central banking most useful for readers interested in understanding actual monetary policy implementation
  • Presents monetary policy and financial stability in a consistent and integrated framework
  • Offers a brief overview of the mechanics of international monetary policy frameworks

Part of the book series: SpringerBriefs in Quantitative Finance (BRIEFFINANCE)

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Table of contents (7 chapters)

  1. Front Matter

    Pages i-xxiii
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  2. Economic Accounts and Financial Systems

    • Ulrich Bindseil, Alessio Fotia
    Pages 1-9Open Access
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  3. Central Banks

    • Ulrich Bindseil, Alessio Fotia
    Pages 11-28Open Access
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  4. Conventional Monetary Policy

    • Ulrich Bindseil, Alessio Fotia
    Pages 29-51Open Access
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  5. Unconventional Monetary Policy

    • Ulrich Bindseil, Alessio Fotia
    Pages 53-65Open Access
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  6. Financial Instability

    • Ulrich Bindseil, Alessio Fotia
    Pages 67-78Open Access
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  7. The Central Bank as Lender of Last Resort

    • Ulrich Bindseil, Alessio Fotia
    Pages 79-100Open Access
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  8. International Monetary Frameworks

    • Ulrich Bindseil, Alessio Fotia
    Pages 101-121Open Access
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  9. Back Matter

    Pages 123-128
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Keywords

About this book

This open access book gives a concise introduction to the practical implementation of monetary policy by modern central banks. It describes the conventional instruments used in advanced economies and the unconventional instruments that have been widely adopted since the financial crisis of 2007–2008. Illuminating the role of central banks in ensuring financial stability and as last resort lenders, it also offers an overview of the international monetary framework. A flow-of-funds framework is used throughout to capture this essential dimension in a consistent and unifying manner, providing a unique and accessible resource on central banking and monetary policy, and its integration with financial stability. 

Addressed to professionals as well as bachelors and masters students of economics, this book is suitable for a course on economic policy. Useful prerequisites include at least a general idea of the economic institutions of an economy, and knowledge of macroeconomics and monetary economics, but readers need not be familiar with any specific macroeconomic models.



Authors and Affiliations

  • Institute of Economics and Law, Macroeconomics, Technical University Berlin, Berlin, Germany

    Ulrich Bindseil

  • School of Business and Economics, Freie Universität Berlin, Berlin, Germany

    Alessio Fotia

About the authors

Ulrich Bindseil joined Deutsche Bundesbank in 1994 and the ECB in 1999. He has been the head of risk management, the head of market operations, and since 2019 the head of market infrastructures and payments. He has been an honorary Professor at TU Berlin since 2010.

Alessio Fotia has studied philosophy at the University of Trento in Italy, and Economics at the Freie Universität Berlin, where he is a student in the M.Sc. Economics programme.


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