Central bank - Knowledge

3260: 2887: 4515: 7053: 3882:. The reserve requirement refers to the proportion of total liabilities that banks must keep on hand overnight, either in its vaults or at the central bank. Banks only maintain a small portion of their assets as cash available for immediate withdrawal; the rest is invested in illiquid assets like mortgages and loans. Lowering the reserve requirement frees up funds for banks to buy other profitable assets. However, even though this tool immediately increases liquidity, central banks rarely change the reserve requirement because doing so frequently adds uncertainty to banks' planning. Most modern central banks now have zero formal reserve requirement. 33: 14019: 3024: 6981: 5181: 7269: 5127: 2826: 1417: 5073: 4420:. While this type of independence is more common, many central banks prefer to announce their policy goals in partnership with the appropriate government departments. This increases the transparency of the policy-setting process and thereby increases the credibility of the goals chosen by providing assurance that they will not be changed without notice. In addition, the setting of common goals by the central bank and the government helps to avoid situations where monetary and fiscal policy are in conflict; a policy combination that is clearly sub-optimal. 3009: 4641: 7359: 5199: 7647: 3388: 5361: 4875: 7395: 7251: 5037: 5955: 4379:

central bank. Often the minister of finance will appoint the governor in consultation with the central bank's board and its incumbent governor. In addition, the legislation will specify banks governor's term of appointment. The most independent central banks enjoy a fixed non-renewable term for the governor in order to eliminate pressure on the governor to please the government in the hope of being re-appointed for a second term. Generally, independent central banks enjoy both goal and instrument independence.

483: 7161: 7521: 4785: 4587: 5289: 5433: 3839:, if its country has a well developed market for its government bonds. This entails managing the quantity of money in circulation through the buying and selling of various financial instruments, such as treasury bills, repurchase agreements or "repos", company bonds, or foreign currencies, in exchange for money on deposit at the central bank. Those deposits are convertible to currency, so all of these purchases or sales result in more or less base currency entering or leaving market circulation. 4359:

reflect the interests of the politicians. When governments control monetary policy, politicians may be tempted to boost economic activity in advance of an election to the detriment of the long-term health of the economy and the country. As a consequence, financial markets may not consider future commitments to low inflation to be credible when monetary policy is in the hands of elected officials, which increases the risk of capital flight. An alternative to central bank independence is to have

6747: 7665: 2327: 6801: 6261: 6585: 4437:. In practice, this means that governors should hold long mandates (at least longer than the electoral cycle) and a certain degree of legal immunity. One of the most common statistical indicators used in the literature as a proxy for central bank independence is the "turn-over-rate" of central bank governors. If a government is in the habit of appointing and replacing the governor frequently, it clearly has the capacity to micro-manage the central bank through its choice of governors. 7683: 7485: 3043: 5721: 3543:, such as more or better machinery. A low interest rate implies that firms can borrow money to invest in their capital stock and pay less interest for it. Lowering the interest is therefore considered to encourage economic growth and is often used to alleviate times of low economic growth. On the other hand, raising the interest rate is often used in times of high economic growth as a contra-cyclical device to keep the economy from overheating and avoid market bubbles. 7575: 7197: 7089: 6999: 4965: 8021: 6927: 6603: 5415: 5163: 4695: 6063: 1334: 7719: 7467: 7413: 7071: 6477: 6387: 6099: 6027: 5217: 5055: 4731: 4677: 6963: 6513: 6279: 6243: 5577: 7233: 6621: 6225: 7755: 7107: 6405: 5847: 5685: 4605: 1354: 421: 4749: 7827: 7143: 6765: 6459: 6315: 5775: 5487: 5343: 5001: 4947: 4893: 7449: 7431: 7323: 7305: 7125: 6837: 6711: 6333: 5325: 5145: 5019: 12503: 2176: 5523: 7629: 7539: 6657: 6531: 6441: 6189: 5973: 5901: 5811: 5793: 5667: 5451: 5379: 5235: 4983: 4857: 4767: 4713: 4623: 7773: 7737: 7701: 7179: 7017: 6873: 6549: 6495: 6171: 6153: 5595: 5469: 5307: 4659: 4551: 4533: 7857: 7593: 7557: 7035: 6135: 6081: 6009: 5919: 5739: 5271: 4929: 4803: 7809: 7611: 6909: 6729: 6675: 6423: 6297: 5703: 5649: 4839: 4569: 7287: 6945: 5757: 5559: 7791: 7503: 7377: 6855: 6639: 6567: 6369: 6207: 6045: 5631: 5397: 5109: 4821: 5613: 8033: 6693: 2188: 5505: 5253: 6783: 6351: 6117: 5883: 5865: 5091: 7341: 6819: 4911: 6891: 5541: 4344: 5937: 7215: 5991: 5829: 1344: 4427:

to organize its internal structures without excessive involvement of the government. This is the most common form of central bank independence. The granting of independence to the Bank of England in 1997 was, in fact, the granting of operational independence; the inflation target continued to be announced in the Chancellor's annual budget speech to Parliament.

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increase, which in its turn also increases the demand. This method is usually enough to stimulate demand and drive economic growth to a higher rate. In other instances, monetary policy might instead entail the targeting of a specific exchange rate relative to some foreign currency or else relative to gold. For example, in the case of the

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as the independence of the central bank increases. The generally agreed upon reason independence leads to lower inflation is that politicians have a tendency to create too much money if given the opportunity to do it. The Federal Reserve System in the United States is generally regarded as one of the more independent central banks

3799:(until 2014), the local currency is backed at a fixed rate by the central bank's holdings of a foreign currency. Similar to commercial banks, central banks hold assets (government bonds, foreign exchange, gold, and other financial assets) and incur liabilities (currency outstanding). Central banks create money by issuing 3823:. Throughout history, there have been disagreements over this power, since whoever controls the creation of currency controls the seigniorage income. The expression "monetary policy" may also refer more narrowly to the interest-rate targets and other active measures undertaken by the monetary authority. 9009:

Its foundation in 1694 arose out the difficulties of the Government of the day in securing subscriptions to State loans. Its primary purpose was to raise and lend money to the State and in consideration of this service it received under its Charter and various Act of Parliament, certain privileges of

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and loaning them to the government in exchange for interest-bearing assets such as government bonds. When central banks decide to increase the money supply by an amount which is greater than the amount their national governments decide to borrow, the central banks may purchase private bonds or assets

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There is very strong consensus among economists that an independent central bank can run a more credible monetary policy, making market expectations more responsive to signals from the central bank. Both the Bank of England (1997) and the European Central Bank have been made independent and follow a

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The central bank has the independence to determine the best way of achieving its policy goals, including the types of instruments used and the timing of their use. To achieve its mandate, the central bank has the authority to run its own operations (appointing staff, setting budgets, and so on.) and

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The independence of the central bank is enshrined in law and shields central banks from political interference. In general terms, institutional independence means that politicians should refrain from seeking to influence monetary policy decisions, while symmetrically central banks should also avoid

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Central bank independence versus inflation. This often cited research published by Alesina and Summers (1993) is used to show why it is important for a nation's central bank (i.e.-monetary authority) to have a high level of independence. This chart shows a clear trend towards a lower inflation rate

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The primary monetary policy tool available to central banks is the administered interest rate paid on qualifying deposits held with them. Adjusting this rate up or down influences the rate commercial banks pay on their own customer deposits, which in turn influences the rate that commercial banks

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is a potential measure that could be applied by Central banks to achieve a low-carbon transition. Although there is a historical bias toward high-carbon companies, included in Central banks portfolios due to their high credit ratings, innovative approaches to quantitative easing could invert this

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In the 1990s there was a trend towards increasing the independence of central banks as a way of improving long-term economic performance. While a large volume of economic research has been done to define the relationship between central bank independence and economic performance, the results are

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Numerous governments have opted to make central banks independent. The economic logic behind central bank independence is that when governments delegate monetary policy to an independent central bank (with an anti-inflationary purpose) and away from elected politicians, monetary policy will not

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Considering the potential impact of central banks on climate change, it is important to consider the mandates of central banks. The mandate of a central bank can be narrow, meaning only a few objectives are given, limiting the ability of a central bank to include climate change in its policies.

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revolve in part around the development of climate-aligned financial regulations. A significant challenge lies in the lack of awareness among corporations and investors, driven by poor information flow and insufficient disclosure. To address this issue, regulators and central banks are promoting

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Central bank independence is usually guaranteed by legislation and the institutional framework governing the bank's relationship with elected officials, particularly the minister of finance. Central bank legislation will enshrine specific procedures for selecting and appointing the head of the

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Central banks as monetary authorities in representative states are intertwined through globalized financial markets. As a regulator of one of the most widespread currencies in the global economy, the US Federal Reserve plays an outsized role in the international monetary market. Being the main

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or business investment, stimulating output growth. On the other hand, cheaper interest income can reduce spending, suppressing output. Additionally, when business loans are more affordable, companies can expand to keep up with consumer demand. They ultimately hire more workers, whose incomes

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Men are involuntarily unemployed if, in the event of a small rise in the price of wage-goods relatively to the money-wage, both the aggregate supply of labour willing to work for the current money-wage and the aggregate demand for it at that wage would be greater than the existing volume of

3103:, in which he argued that the increase in paper credit did not cause the crisis. The book also gives a detailed account of the British monetary system as well as a detailed examination of the ways in which the Bank of England should act to counteract fluctuations in the value of the pound. 4497:

Central bank independence indices allow a quantitative analysis of central bank independence for individual countries over time. One central bank independence index is the Garriga CBI, where a higher index indicates higher central bank independence, shown below for individual countries.

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in 1619. These institutions offered a public infrastructure for cashless international payments. They aimed to increase the efficiency of international trade and to safeguard monetary stability. These municipal public banks thus fulfilled comparable functions to modern central banks.

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were common at the time. Problems with collapses of banks during downturns, however, led to wider support for central banks in those nations which did not as yet possess them, for example in Australia. In the United States, the role of a central bank had been ended in the so-called

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The widespread adoption of central banking is a rather recent phenomenon. At the start of the 20th century, approximately two-thirds of sovereign states did not have a central bank. Waves of central bank adoption occurred in the interwar period and in the aftermath of World War II.

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issuing bank notes. The corporation commenced, with an assured life of twelve years after which the Government had the right to annul its Charter on giving one year's notice. Subsequent extensions of this period coincided generally with the grant of additional loans to the State.

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as second-oldest and direct or indirect model for all subsequent central banks. That view has persisted in some early-21st-century publications. In more recent scholarship, however, the issuance of banknotes has often been viewed as just one of several techniques to provide

3937:(CBDC) has been in discussion. As of the end of 2018, at least 15 central banks were considering to implementing CBDC. Since 2014, the People's Bank of China has been working on a project for digital currency to make its own digital currency and electronic payment systems. 3546:

Further goals of monetary policy are stability of interest rates, of the financial market, and of the foreign exchange market. Goals frequently cannot be separated from each other and often conflict. Costs must therefore be carefully weighed before policy implementation.

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are arguing it is not central banks' role to conduct climate policy. China is among the most advanced central banks when it comes to green monetary policy. It has given green bonds preferential status to lower their yield and uses window policy to direct green lending.

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In the United Kingdom until the mid-nineteenth century, commercial banks were able to issue their own banknotes, and notes issued by provincial banking companies were commonly in circulation. Many consider the origins of the central bank to lie with the passage of the

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There is no universal terminology for the name of a central bank. Early central banks were often the only or principal formal financial institution in their jurisdiction, and were consequently often named "bank of" the relevant city's or country's name, e.g. the

3910:. In credit easing, a central bank purchases private sector assets to improve liquidity and improve access to credit. Signaling can be used to lower market expectations for lower interest rates in the future. For example, during the credit crisis of 2008, the 3119:

and the notes that the bank could issue. The Act also placed strict curbs on the issuance of notes by the country banks. The Bank of England took over a role of lender of last resort in the 1870s after criticism of its lacklustre response to the failure of

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became the first central bank to be given full independence, leading this form of central bank to be referred to as the "Bundesbank model", as opposed, for instance, to the New Zealand model, which has a goal (i.e. inflation target) set by the government.

2941:. The early modern Bank of England, however, did not have all the functions of a today's central banks, e.g. to regulate the value of the national currency, to finance the government, to be the sole authorized distributor of banknotes, or to function as a 2298:

are usually set up to be institutionally independent from political interference, even though governments typically have governance rights over them, legislative bodies exercise scrutiny, and central banks frequently do show responsiveness to politics.

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Before the near-generalized adoption of the model of national public-sector central banks, a number of economies relied on a central bank that was effectively or legally run from outside their territory. The first colonial central banks, such as the

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Proponents of "green monetary policy" are proposing that central banks include climate-related criteria in their collateral eligibility frameworks, when conducting asset purchases and also in their refinancing operations. But critics such as

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view inflation as the solution to involuntary unemployment. However, "unanticipated" inflation leads to lender losses as the real interest rate will be lower than expected. Thus, Keynesian monetary policy aims for a steady rate of inflation.

8177:(Springer, 2016), p. 405: "The current norm in OECD countries is an institutionally independent central bank ... In recent years some non-OECD countries have introduced ... a degree of central bank independence and accountability." 4382:

Despite their independence, central banks are usually accountable at some level to government officials, either to the finance ministry or to parliament. For example, the Board of Governors of the U.S. Federal Reserve are nominated by the

4312:, and other types of financial institutions may be subject to different (and occasionally overlapping) regulation. Some types of banking regulation may be delegated to other levels of government, such as state or provincial governments. 3499:

is a form of unintended unemployment resulting from a mismatch between demand in the labour market and the skills and locations of the workers seeking employment. Macroeconomic policy generally aims to reduce unintended unemployment.

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Yet another pattern was set in countries where federated or otherwise sub-sovereign entities had wide policy autonomy that was echoed to varying degrees in the organization of the central bank itself. These included, for example, the

3247:, which had been established during British colonial rule as a private company, was nationalized in 1949 following India's independence. By the early 21st century, most of the world's countries had a national central bank set up as a 9435: 7889:

each year, on average (out of an annual global production of 2,500–3,000 tonnes). In 2018, central banks collectively hold over 33,000 metric tons of the gold, about a fifth of all the gold ever mined, according to Bloomberg News.

4489:(FSAP) review self-assessment, for example, includes a number of questions about central bank independence in the transparency section. An independent central bank will score higher in the review than one that is not independent. 4284:

and behaviour and policies toward consumers. Apart from refinancing, it also provides banks with services such as transfer of funds, bank notes and coins or foreign currency. Thus it is often described as the "bank of banks".

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Although it is difficult to define central banking, ... a functional definition is most useful. ... Capie et al. (1994) define a central bank as the government's bank, the monopoly note issuer and lender of last

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in 1800, in order to stabilize and develop the French economy and to improve the financing of his wars. The Bank of France remained the most important Continental European central bank throughout the 19th century. The

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In the second half of the 20th century, the dismantling of colonial systems left some groups of countries using the same currency even though they had achieved national independence. In contrast to the unraveling of

9272: 3925:" whereby the central bank would make direct transfers to citizens in order to lift inflation up to the central bank's intended target. Such policy option could be particularly effective at the zero lower bound. 3618:

assets and increasing their capital requirements. This should result in high-carbon assets becoming less attractive while favoring low-carbon assets, which have historically been perceived as high-risk, and low

10150: 3614:, and exposure specifications, with the goal of promoting long-term, low-carbon emission goals, rather than short-term financial objectives. These regulations aim to assess risk comprehensively, identifying 3494:

is the time period between jobs when a worker is searching for, or transitioning from one job to another. Unemployment beyond frictional unemployment is classified as unintended unemployment. For example,

3099: 2984:, was an outlier from the general pattern of early national central banks in that it was directly owned by the Imperial Russian government, rather than private individual shareholders. In the nascent 8340: 4272:

In some countries a central bank, through its subsidiaries, controls and monitors the banking sector. In other countries banking supervision is carried out by a government department such as the

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Correlatively, different scholars have held different views about the timeline of emergence of the first central banks. A widely held view in the second half of the 20th century has been that

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and other leading policymakers and economists of the time, took an active role to promote the independence of central banks, a key component of the economic orthodoxy the EFO fostered at the

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Tommaso Mancini-Griffoli; Maria Soledad Martinez Peria; Itai Agur; Anil Ari; John Kiff; Adina Popescu; Celine Rochon (12 November 2018). "Casting Light on Central Bank Digital Currency".

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central banks have full autonomy on their budget, and some are even prohibited from financing governments. This is meant to remove incentives from politicians to influence central banks.

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In the 20th century, central banks were often created with the intent to attract foreign capital, as bankers preferred to lend to countries with a central bank on the gold standard.

3854:). This results in commercial banks bidding down the rate they pay customers on their deposits and, subsequently, loan rates are reduced commensurately. Cheaper credit can increase 9067: 4366:

Governments generally have some degree of influence over even "independent" central banks; the aim of independence is primarily to prevent short-term interference. In 1951, the

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is defined either as the devaluation of a currency or equivalently the rise of prices relative to a currency. Most central banks currently have an inflation target close to 2%.

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between 1972 and 1993. Conversely, some countries that are politically organized as federations, such as today's Canada, Mexico, or Switzerland, rely on a unitary central bank.

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and were critically reliant on foreign funding found advantage in granting a central banking role to banks that were effectively or even legally foreign. A seminal case was the

4481:(IMF) strongly support central bank independence. This results, in part, from a belief in the intrinsic merits of increased independence. The support for independence from the 14379: 14312: 14272: 11016:, Di Bartolomeo, G., and Hughes Hallett, A. , "Central banks and economic policy after the crisis: what have we learned?", ch. 5 in: Baker, H. K. and Riddick, L. A. (eds.), 3890:

Other forms of monetary policy, particularly used when interest rates are at or near 0% and there are concerns about deflation or deflation is occurring, are referred to as

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Any cartel of banks is particularly closely watched and controlled. Most countries control bank mergers and are wary of concentration in this industry due to the danger of

3780:: "money" under certain circumstances. Historically, this was often a promise to exchange the money for precious metals in some fixed amount. Now, when many currencies are 2291:. Central banks play a crucial role in macroeconomic forecasting, which is essential for guiding monetary policy decisions, especially during times of economic turbulence. 11440: 4309: 3186: 3097:

regarding the "cumulative process which restates the Quantity Theory in a theoretically coherent form". As a response to a currency crisis in 1797, Thornton wrote in 1802

9269: 12257: 10142: 2438:. Naming practices subsequently evolved as more central banks were established. They include, with references to the date when the bank acquired its current name: 10229: 2782:

or other types of financial money by a government is not the same as central banking. The difference is that government-issued financial money, as present e.g. in

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A central bank may use another country's currency either directly in a currency union, or indirectly on a currency board. In the latter case, exemplified by the

9226: 3559:, a debate is now underway on whether central banks should also pursue environmental goals as part of their activities. In 2017, eight central banks formed the 10600: 4485:

also derives partly from the connection between increased independence for the central bank and increased transparency in the policy-making process. The IMF's

8805: 4449: : some central banks have their own legal personality, which allows them to ratify international agreements without the government's approval (like the 3093:, was a defender of the bullionist position and a significant figure in monetary theory. Thornton's process of monetary expansion anticipated the theories of 2845:, established in 1401, is the first example of municipal, mostly public banks which pioneered central banking on a limited scale. It was soon emulated by the 12252: 8575: 4335:

Central banks have increasingly engaged in public communication for the purposes of ensuring accountability, build trust, and manage inflation expectations.

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The notion of central banks as a separate category from other banks has emerged gradually, and only fully coalesced in the 20th century. In the aftermath of

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of central banks may include economic research, statistical collection, supervision of deposit guarantee schemes, advice to government in financial policy.

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operated alongside three other major state-owned banks. For earlier periods, what institutions do or do not count as central banks is often not univocal.

14279: 10301: 9306: 8332: 2133: 11099: 9408: 8137:"Central Bank Macroeconomic Forecasting During the Global Financial Crisis: The European Central Bank and Federal Reserve Bank of New York Experiences" 2817:

for their customers. Thus, they had the possibility to issue, lend and transfer money autonomously without direct control from political authorities.

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created twenty years later. After gaining independence, numerous African and Asian countries also established central banks or monetary unions. The

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supplier and rate adjusted for US dollars, the Federal Reserve implements a set of requirements to control inflation and unemployment in the US.

2728: 10854: 9625: 11535: 10906: 8362: 2579: 8980: 3776:. When a country has its own national currency, this involves the issue of some form of standardized currency, which is essentially a form of 14763: 12305: 4094: 2869:. Notable municipal central banks were established in the early 17th century in leading northwestern European commercial centers, namely the 11270: 10199: 9428:"Joint statement by the Founding Members of the Central Banks and Supervisors Network for Greening the Financial System – One Planet Summit" 8309: 14330: 12315: 12300: 10415: 3641:

has incorporated carbon-emissions into its asset purchase criteria, despite its relatively narrow mandate that focuses on price stability.

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However, central bank mandates may not necessarily have to be modified to accommodate climate change-related activities. For example, the

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made a "conditional commitment" to keep rates at the lower bound of 25 basis points (0.25%) until the end of the second quarter of 2010.

11890: 10800: 9178: 9064: 8540: 2937:. The bank was given exclusive possession of the government's balances, and was the only limited-liability corporation allowed to issue 14367: 10625: 10498: 9139: 8894: 7925:, each account for an average of 2.5 percent. The remaining 107 central banks hold less than 13 percent. According to data compiled by 4416:

The central bank has the right to set its own policy goals, whether inflation targeting, control of the money supply, or maintaining a

10763:"Gavin, M., & Manger, M. (2023). Populism and De Facto Central Bank Independence. Comparative Political Studies, 56(8), 1189–1223" 12691: 11598: 10989: 4301: 4259: 3999: 3560: 3285: 3036: 8892:"An Economic Explanation of the Early Bank of Amsterdam, Debasement, Bills of Exchange, and the Emergence of the First Central Bank" 4304:

and numerous others on the state and the private level. There is usually significant cooperation between the agencies. For example,

3070:. Simultaneously, a quasi-central banking role was played by a small group of powerful family-run banking networks, typified by the 14260: 12272: 11624: 11561: 4177: 3351:

established in 1921, under which Luxembourg had no central bank, but that was managed by a national central bank (in that case the

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are a focus of contention and criticism by some policymakers, researchers and specialized business, economics and finance media.

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Issues like central bank independence, central bank policies and rhetoric in central bank governors discourse or the premises of

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Many countries will monitor and control the banking sector through several different agencies and for different purposes. The

14704: 14336: 14194: 14098: 12262: 10484: 10435: 9884: 9762: 8867: 8785: 8292: 4293: 3348: 974: 840: 9649:"Out of the window? Green monetary policy in China: window guidance and the promotion of sustainable lending and investment" 8109: 2405:) of the highest quality. Under that definition, municipal banks of the late medieval and early modern periods, such as the 14751: 14614: 13938: 11430: 4289: 3420: 2922: 2886: 2211: 11055:

A Hundred Ways to Skin a Cat: Comparing Monetary Policy Operating Procedures in the United States, Japan and the Euro Area

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remits most of its profits to the U.S. Treasury. This income, derived from the power to issue currency, is referred to as

3446:(ECB) in 1998. In 2014, the ECB took an additional role of banking supervision as part of the newly established policy of 14684: 14674: 14038: 12912: 12835: 11942: 11125: 9461: 4138: 4089: 3424: 3327:(est. 1881) which captured significant financial resources from the economically struggling albeit independent nation of 11062: 10703: 10221: 14517: 14248: 13975: 12140: 11363: 8228: 8061: 4474: 3463:

The primary role of central banks is usually to maintain price stability, as defined as a specific level of inflation.

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At the most basic level, monetary policy involves establishing what form of currency the country may have, whether a

2626: 2365:. Since that time, central banks have been generally distinguishable from other financial institutions, except under 1383: 10592: 10017: 9483: 14726: 14634: 14604: 14547: 14300: 12485: 11766: 11514: 8800: 7274: 5186: 4392: 2630: 2521: 1830: 9042: 8560: 14654: 14644: 13931: 12341: 12031: 11988: 11519: 11145: 10642: 9696:

Campiglio, Emanuele; Dafermos, Yannis; Monnin, Pierre; Ryan-Collins, Josh; Schotten, Guido; Tanaka, Misa (2018).

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was established in 1907 with international shareholding and headquarters functions distributed between Paris and

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Miklos Sebok, "President Wilson and the International Origins of the Federal Reserve System – A Reappraisal."

8607: 3819:, and usually belongs to the national government. The state-sanctioned power to create currency is called the 2914:, Sweden's early modern parliament. One role of the Swedish central bank was lending money to the government. 13985: 13316: 13306: 12999: 12642: 12547: 11917: 11619: 10305: 4252: 4235: 4182: 3934: 3875:(since 2014) is to target the exchange rate between the Chinese renminbi and a basket of foreign currencies. 3202: 1935: 1742: 1285: 1228: 13527: 8849: 6986: 4343: 3598:. In response, four broad types of interventions including methodology development, investor encouragement, 3323:

established in 1863 as a French-British joint venture, and a particularly egregious one was the Paris-based

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Haan, Jakob de; Eijffinger, Sylvester (2019). Congleton, Roger D; Grofman, Bernard; Voigt, Stefan (eds.).

9558: 7929:, the top 10 largest central banks owned $ 21.4 trillion in assets, a 10 percent increase from 2015. 4402:

The literature on central bank independence has defined a cumulative and complementary number of aspects:

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The theory of central banking, even though the name was not yet widely used, evolved in the 19th century.

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to evaluate the way in which central banks can use their regulatory and monetary policy tools to support

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Committee of Finance and Industry 1931 (Macmillan Report) description of the founding of Bank of England

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Central banks were established in many European countries during the 19th century. Napoleon created the

14242: 13868: 13444: 13134: 13124: 12334: 11875: 11751: 11736: 11614: 11566: 11297: 11275: 11235: 11225: 11190: 10277: 10111: 9391: 8046: 8011: 4482: 4360: 3895: 3590:

in the economy highlights one example of the embedded transition risk to climate change with potential

3273: 3198: 2556: 2370: 1884: 1867: 1747: 1036: 964: 796: 522: 10876: 3811:

remits its interest income to the central banks of the member countries of the European Union. The US

14428: 14008: 13014: 12150: 12066: 12016: 11963: 11937: 11812: 11524: 11378: 11373: 11185: 11160: 10171: 9201:"Exploring the Currency of 19th Century France: A Glimpse into the Economic Landscape – 19th Century" 4353: 3564: 3086: 3047: 2926: 2767:. The value of a shat in terms of goods was defined by government administrations. Other cultures in 2681: 2664:

Some commercial banks have names suggestive of central banks, even if they are not: examples are the

2595: 2587: 2568: 2541: 1769: 939: 774: 138: 8269: 7869: 3574:

has announced it will consider climate considerations when reviewing its monetary policy framework.

3292:), operated from the colony itself. Following the generalization of the transcontinental use of the 3277: 3023: 14464: 14440: 14200: 14112: 13898: 13844: 13587: 13542: 13381: 13252: 13129: 12731: 12669: 12056: 12046: 11978: 11922: 11870: 11842: 11788: 11746: 11689: 11629: 11332: 11180: 11165: 8916:

The Oxford Encyclopedia of Economic History, Volume 3. Banking: Middle Ages and Early Modern Period

8836:

The Oxford Encyclopedia of Economic History, Volume 3. Banking: Middle Ages and Early Modern Period

5078: 4245: 4172: 4126: 3989: 3984: 3872: 3508: 3352: 3336: 3301: 2997: 2977: 2599: 2514: 2498: 1958: 1923: 1759: 1347: 889: 808: 13602: 10188: 8929:

Banking, Trade and Industry: Europe, America and Asia from the Thirteenth to the Twentieth Century

3372: 13552: 13386: 13376: 13366: 13356: 13094: 13084: 13044: 13034: 12907: 12828: 12061: 12036: 11998: 11807: 11778: 11709: 11704: 11699: 11639: 11609: 11477: 11353: 11317: 11285: 11265: 11260: 11215: 11210: 11135: 9991: 8317: 8221:

Central Banking Systems Compared: The ECB, The Pre-Euro Bundesbank and the Federal Reserve System

4320: 3788: 3691: 3606: 3496: 3491: 3332: 3222: 3210: 3175: 2673: 2591: 2510: 2502: 2374: 1928: 1850: 1845: 1817: 1400: 1136: 779: 567: 436: 3312:(est. 1925). The Banque de l'Algérie's head office was relocated from Algiers to Paris in 1900. 14799: 14789: 14189: 13722: 13567: 13427: 13370: 13326: 13289: 13039: 12979: 12954: 12924: 12897: 12790: 12719: 12679: 12103: 12021: 11793: 11720: 11649: 11644: 11492: 11445: 11420: 11230: 4880: 4062: 3907: 3836: 3447: 3324: 3240: 3171: 3067: 2911: 2603: 2525: 2160: 1911: 1727: 1722: 1707: 1674: 1533: 350: 10323: 10143:"Beyond blockchain: what are the technology requirements for a Central Bank Digital Currency?" 9498: 9084: 8960: 4226: 3066:

was founded in 1812, soon after Finland had been taken over from Sweden by Russia to become a

2759:

economy (2750–2150 BCE). The Egyptians measured the value of goods with a central unit called

14746: 14422: 14416: 14224: 14154: 13854: 13537: 13512: 13497: 13471: 13410: 13089: 13029: 13009: 13004: 12773: 12290: 12222: 12217: 12026: 11983: 11860: 11756: 11741: 11659: 11592: 11576: 11571: 11529: 11390: 11307: 11220: 11205: 11170: 9162: 8513: 8071: 7256: 7058: 5204: 4450: 4297: 3808: 3681: 3638: 3571: 3443: 3392: 3364: 3340: 3320: 3244: 3135: 3108: 2942: 2669: 2646: 2607: 2564: 2529: 2000: 1975: 1879: 1812: 1538: 1501: 1479: 1474: 1376: 1310: 1071: 1009: 969: 828: 607: 597: 10623:"Reconsidering the principal components of central bank independence: The more the merrier?" 10622: 10427: 9123: 8891: 8764:

Eichengreen, Barry; Kakridis, Andreas (2023). Kakridis, Andreas; Eichengreen, Barry (eds.).

8608:"Central Banking in Central and Eastern Europe: Lessons From the Interwar Years' Experience" 3434:

The concept of supranational central banking took a globally significant dimension with the

2825: 14212: 14183: 14003: 13980: 13903: 13607: 13351: 13321: 13274: 13237: 13163: 13114: 13079: 13019: 12984: 12919: 12902: 12652: 12472: 12232: 11968: 11885: 11487: 11462: 11405: 11400: 11280: 9348:

Genres of the Credit Economy: Mediating Value in Eighteenth- and Nineteenth-Century Britain

8056: 7652: 4388: 3879: 3847: 3620: 3611: 3599: 3503:

Keynes labeled any jobs that would be created by a rise in wage-goods (i.e., a decrease in

3356: 3316: 3309: 3293: 2969: 2965: 2957: 2846: 2572: 2303: 2267:. Many central banks also have supervisory or regulatory powers to ensure the stability of 1918: 1732: 1577: 1233: 1208: 1086: 1046: 1041: 909: 698: 647: 577: 557: 12852: 10981: 10391: 10374: 10252: 10043: 9389: 3842:

If the central bank wishes to decrease interest rates, it reduces its administered rates (

3229:. Similar ideas were emulated in other newly independent European countries, e.g. for the 8: 14446: 14287: 14178: 14124: 13833: 13642: 13461: 13361: 13341: 13301: 13257: 13242: 13198: 13139: 13064: 13054: 13024: 12947: 12800: 12166: 11832: 11664: 11654: 11348: 11302: 9817: 9063:

Federal Reserve Bank of Minneapolis. "A History of Central Banking in the United States"

7526: 5906: 4592: 4459: 4417: 4369: 4111: 4057: 3899: 3784:, the "promise to pay" consists of the promise to accept that currency to pay for taxes. 3629: 3623: 3540: 3519: 3475: 3115:

was institutionalized in Britain, creating a ratio between the gold reserves held by the

3090: 2981: 2830: 2665: 2652: 2506: 2362: 2288: 2276: 2128: 2005: 1840: 1802: 1543: 1506: 1300: 1126: 1116: 1066: 1004: 713: 582: 527: 330: 195: 158: 49: 13502: 12934: 10787: 10471:. The New Palgrave Economics Collection. London: Palgrave Macmillan UK. pp. 21–26. 3008: 2755:

as a unit of account predates history. Government control of money is documented in the

2700:. Some but not all of these institutions had assumed central banking roles in the past. 1965: 32: 14562: 14452: 14148: 14142: 14076: 13888: 13859: 13817: 13622: 13331: 13311: 13279: 13193: 13188: 13168: 13119: 13059: 13049: 12994: 12989: 12821: 12562: 12357: 11509: 11291: 11250: 11150: 10846: 10490: 10343: 10112:"The Simple Analytics of Helicopter Money: Why It Works – Always – Economics E-Journal" 10093: 9972: 9929: 9845: 9725: 9678: 9617: 9200: 8873: 8677: 8650: 8642: 8532: 8489: 8423: 5366: 4434: 4433:

The other forms of independence are not possible unless central bank heads have a high

3911: 3868: 2989: 2858: 2724: 2634: 2487: 2398: 2358: 2080: 1807: 1774: 1712: 1275: 1250: 1146: 1141: 1029: 1014: 989: 954: 742: 562: 467: 355: 325: 279: 217: 153: 10572: 10553: 8940: 8470: 8244: 14620: 14610: 14476: 13752: 13727: 13637: 13517: 13405: 13208: 13144: 13109: 13099: 12969: 12795: 12741: 12704: 12589: 12552: 11912: 11827: 11783: 11731: 11482: 11240: 10850: 10792: 10735: 10674:"Transparency International EU – The global coalition against corruption in Brussels" 10494: 10480: 10431: 10396: 10282: 10097: 10083: 9976: 9964: 9933: 9921: 9880: 9849: 9837: 9798: 9758: 9717: 9682: 9670: 9621: 9609: 9168: 9129: 9090: 8986: 8877: 8863: 8781: 8684: 8654: 8536: 8471:"Measuring Central Bank Independence: A Tale of Subjectivity and of Its Consequences" 8427: 8415: 8288: 8224: 8099: 5600: 5438: 4305: 3855: 3820: 3190: 3075: 3071: 2899: 2870: 2850: 2814: 2642: 2483: 2423: 2410: 2389: 2295: 2155: 2143: 2100: 1945: 1940: 1664: 1589: 1353: 1188: 1183: 1024: 994: 929: 642: 420: 401: 309: 257: 114: 69: 64: 13677: 10324:"Central Bank Independence and Macroeconomic Performance: Some Comparative Evidence" 9729: 9697: 8514:"Does it Pay to Watch Central Bankers' Lips? The Information Content of ECB Wording" 8445: 4067: 3387: 2952:

In the early 18th century, a major experiment in national central banking failed in

2015: 14537: 14458: 14383: 14172: 14166: 13802: 13747: 13732: 13717: 13702: 13632: 13612: 13592: 13547: 13154: 13104: 13074: 13069: 12959: 12885: 12778: 12763: 12708: 12659: 12621: 12611: 12247: 11817: 11546: 11472: 11312: 11140: 10838: 10782: 10774: 10472: 10423: 10386: 10335: 10272: 10264: 10075: 9956: 9913: 9872: 9829: 9790: 9750: 9709: 9660: 9601: 8855: 8773: 8675:. In Capie, Forrest; Fischer, Stanley; Goodhart, Charles; Schnadt, Norbert (eds.). 8634: 8524: 8485: 8410: 8405: 8393: 8156: 8148: 8135:

Lucia, Alessi; Eric, Ghysels; Luca, norante; Richard, Peach; Simon, Potter (2014).

8037: 7893:

In 2016, 75% of the world's central-bank assets were controlled by four centers in

6752: 4200: 4167: 3922: 3903: 3615: 3595: 3079: 3058: 3032: 2946: 2934: 2907: 2746: 2435: 2381: 2284: 2090: 2075: 1601: 1572: 1560: 1550: 1486: 1466: 1436: 1431: 1369: 1337: 1265: 1243: 1223: 1198: 1061: 1051: 959: 877: 274: 264: 163: 143: 119: 13682: 10842: 9794: 9665: 9648: 9605: 8188:"Public governance of central banks: an approach from new institutional economics" 7865: 3415:, some of these countries decided to keep using a common currency, thus forming a 3315:

In some cases, independent countries which did not have a strong domestic base of

2641:

In some cases, the local-language name is used in English-language practice, e.g.

14660: 14650: 14557: 14470: 14059: 13954: 13913: 13807: 13772: 13737: 13672: 13597: 13582: 13476: 13432: 13269: 13203: 13178: 13173: 13149: 12880: 12865: 12758: 12686: 12616: 12594: 12567: 12393: 12365: 12202: 12197: 11947: 11927: 11679: 11674: 11669: 11604: 11450: 11358: 11255: 11245: 11175: 11130: 11046: 11013: 10968: 10629: 10579: 10560: 10542: 10520: 10194: 10048: 9414: 9276: 9071: 9022: 8967: 8948: 8898: 8812:. Money Museum National Bank of Belgium, 31 May 2012. Retrieved 10 February 2017. 8809: 8152: 8093: 7166: 6266: 4041: 4028: 4023: 3864: 3851: 3812: 3777: 3745: 3739: 3699: 3556: 3404: 3368: 3226: 3116: 3063: 3028: 3013: 2918: 2891: 2866: 2806: 2693: 2677: 2548: 2479: 2431: 2427: 2402: 2393: 2354: 2307: 2268: 2256: 2252: 2192: 2095: 2055: 2035: 1901: 1702: 1697: 1692: 1659: 1631: 1491: 1305: 1290: 1280: 1203: 1193: 1106: 1056: 999: 979: 949: 924: 899: 813: 703: 693: 542: 517: 406: 383: 378: 373: 340: 304: 202: 183: 126: 89: 54: 10826: 10079: 10018:"ECB provides details on how it aims to decarbonise its corporate bond holdings" 9778: 9589: 9390:

Matt Apuzzo; Constant Méheut; Selam Gebrekidan; Catherine Porter (20 May 2022).

8679:

The Future of Central Banking: The Tercentenary Symposium of the Bank of England

8394:"How do the media scrutinise central banking? Evidence from the Bank of England" 835: 14794: 14690: 14680: 14640: 14572: 14488: 14088: 14081: 13827: 13812: 13777: 13762: 13742: 13712: 13532: 13183: 12892: 12860: 12785: 12768: 12753: 12399: 12212: 12041: 11932: 11880: 11726: 11694: 11684: 11410: 11395: 11327: 11322: 8851:

How a Ledger Became a Central Bank: A Monetary History of the Bank of Amsterdam

8136: 7926: 7914: 7670: 5294: 4205: 4099: 4077: 4072: 3915: 3773: 3769: 3718:: managing or supervising means of payments and inter-banking clearing systems; 3650: 3591: 3587: 3439: 3419:, and to entrust its management to a common central bank. Examples include the 3416: 3408: 3218: 3214: 3194: 3167: 3158: 3125: 2874: 2854: 2795: 2791: 2779: 2689: 2491: 2471: 2467: 2447: 2350: 2342: 2330: 2315: 2150: 2065: 2060: 1717: 1567: 1523: 1441: 1416: 1408: 1357: 1270: 1238: 1178: 1111: 1096: 1091: 1019: 818: 801: 784: 688: 653: 637: 622: 537: 482: 299: 239: 227: 24: 13562: 11053: 10778: 10251:

Blinder, Alan S.; Ehrmann, Michael; de Haan, Jakob; Jansen, David-Jan (2024).

9876: 9713: 9457: 8777: 8333:"The Fed's latest interest rate hike has some congressional lawmakers worried" 2388:, counted as the oldest central bank, and that consequently its successor the 1985: 14783: 14670: 14630: 14527: 14506: 14294: 14071: 13792: 13782: 13757: 13697: 13692: 13687: 13667: 13657: 13627: 13617: 13522: 13422: 13395: 13159: 12443: 12207: 12181: 11822: 11714: 11435: 11415: 11195: 10400: 10286: 10070:

Baeriswyl, Romain (2017). "The Case for the Separation of Money and Credit".

9968: 9925: 9841: 9802: 9721: 9674: 9613: 9121: 8419: 7688: 5726: 4281: 3964: 3871:, the rate at which member banks lend to one another overnight; however, the 3860: 3761: 3757: 3695: 3663: 3579: 3248: 3150: 3146: 3139: 3094: 2985: 2973: 2961: 2930: 2756: 2697: 2685: 2475: 2463: 2459: 2455: 2346: 2326: 2311: 2264: 2085: 2070: 2045: 2030: 2025: 2020: 1995: 1990: 1654: 1616: 1513: 1315: 1295: 1218: 1173: 944: 934: 914: 791: 602: 592: 572: 507: 497: 284: 234: 212: 207: 190: 131: 107: 84: 74: 59: 42: 10762: 10554:

Who are the members of the Federal Reserve Board, and how are they selected?

10476: 10253:"Central Bank Communication with the General Public: Promise or False Hope?" 9864: 9744: 8670: 14700: 14567: 14500: 14494: 14482: 14434: 14160: 13822: 13767: 13662: 13652: 13647: 13572: 13417: 12942: 12870: 12674: 12601: 12508: 11077: 11042: 10796: 8051: 8025: 7910: 7886: 7580: 7202: 7094: 7004: 4970: 4160: 4155: 4104: 3667: 3269: 3154: 3100:

An Enquiry into the Nature and Effects of the Paper Credit of Great Britain

3042: 2787: 2451: 2180: 2105: 2050: 2010: 1797: 1636: 1626: 1584: 1461: 1456: 1101: 904: 769: 708: 665: 627: 612: 532: 424: 244: 148: 79: 10464: 10302:"Modern Macroeconomics in Practice: How Theory Is Shaping Monetary Policy" 9948: 9746:

Too late, too sudden: transition to a low carbon economy and systemic risk

8859: 8173:

David Fielding, "Fiscal and Monetary Policies in Developing Countries" in

14218: 14130: 13923: 13797: 13787: 13577: 13456: 13400: 12875: 12574: 12528: 12480: 12427: 12422: 12082: 11761: 10268: 9990:

Bernardo, Giovanni; Ryan-Collins, Josh; Werner, Richard; Greenham, Tony.

9960: 9343: 7906: 7364: 6932: 6806: 6608: 6590: 6068: 5960: 5420: 4700: 4520: 4273: 4133: 4084: 3816: 3602:

and policy toolkits have been adopted by or suggested for central banks.

3412: 3182: 2712: 2413:(est. 1609), issued central bank money and count as early central banks. 2338: 2333:, influential 19th-century theorist of the economic role of central banks 2110: 1621: 1606: 1260: 1151: 1121: 732: 617: 552: 502: 345: 9917: 9902:"What Role for Financial Supervisors in Addressing Environmental Risks?" 9529:"Weidmann: Central banks do not have a magic wand for saving the planet" 8646: 8622: 8528: 8446:"Do We Really Need Central Bank Independence? A Critical Re-examination" 8160: 4391:, publishes verbatim transcripts, and balance sheets are audited by the 2540:(1950). "People's Bank", also associated with Communism, is used by the 14033: 13707: 13507: 13284: 12736: 12724: 12524: 12381: 12375: 11031:

List of central bank websites at the Bank for International Settlements

10522:

Monetary Sovereignty: The Politics of Central Banking in Western Europe

10347: 9833: 9036: 8770:

The Spread of the Modern Central Bank and Global Cooperation: 1919–1939

8638: 8521:

ZEW – Centre for European Economic Research Discussion Paper No. 05-070

8187: 7724: 7472: 7418: 7076: 6968: 6518: 6482: 6392: 6284: 6248: 6104: 6032: 5582: 5222: 5060: 4736: 4682: 4470: 4316: 4210: 3781: 3254: 3112: 2964:

in 1720–1721. Later in the century, France had other attempts with the

2768: 2280: 2040: 1970: 1906: 1857: 737: 294: 269: 170: 94: 9901: 9698:"Climate change challenges for central banks and financial regulators" 9417:, Central banks raise rates again as Fed drives global inflation fight 8772:. Studies in Macroeconomic History. Cambridge University Press: 3–39. 7864:

Graphs are unavailable due to technical issues. There is more info on

3145:

The 19th and early 20th centuries central banks in most of Europe and

14768: 14731: 14064: 13557: 13487: 12844: 12714: 12326: 10222:"Explainer: Central bank digital currencies – edging toward reality?" 7760: 7238: 7112: 6626: 6410: 6230: 5852: 5690: 4646: 4610: 3979: 3843: 3792: 3504: 3471: 3464: 3396: 3289: 2903: 2810: 2366: 2138: 1980: 1611: 1496: 1451: 850: 672: 10339: 9590:"Greening monetary policy: evidence from the People's Bank of China" 14736: 14136: 13995: 13336: 12584: 12542: 12537: 12404: 9754: 9695: 9329:

Protection and Politics: Conservative Economic Discourse, 1815–1852

8310:"Making the Case for the Integration of Social and Economic Policy" 7898: 7832: 7454: 7436: 7328: 7310: 7148: 7130: 6842: 6770: 6716: 6464: 6338: 6320: 5780: 5492: 5348: 5330: 5150: 5024: 5006: 4952: 4898: 4754: 4463: 3974: 3800: 3163: 3017: 2938: 2771:

later materialized their currencies in the form of gold and silver

2704: 2552: 2532:(1951); also former central banks of Communist countries, e.g. the 2385: 2272: 2260: 2248: 894: 727: 8672: 8284:

The Myth of Independence: How Congress Governs the Federal Reserve

7880:

Total assets of central banks worldwide (in trillion U.S. dollars)

14741: 11799: 7778: 7742: 7706: 7634: 7544: 7184: 7022: 6878: 6662: 6554: 6536: 6500: 6446: 6194: 6176: 6158: 5978: 5816: 5798: 5672: 5618: 5528: 5474: 5456: 5384: 5312: 5240: 5168: 4988: 4862: 4790: 4772: 4718: 4664: 4628: 4556: 4538: 4019: 3969: 3921:

Some have envisaged the use of what Milton Friedman once called "

3344: 3281: 3251:

institution, albeit with widely varying degrees of independence.

3239:

established a central bank in 1945, which was a precursor to the

3206: 3051: 2533: 1213: 984: 587: 12095: 11030: 10962:

Big Central Bank Assets Jump Fastest in 5 Years to $ 21 Trillion

9164:

The Emergence of Modern Business Enterprise in France, 1800–1930

8561:"Policy Rules and Targets: Framing the Central Banker's Problem" 8392:

Koop, Christel; Scotto di Vettimo, Michele (20 September 2022).

2703:

The leading executive of a central bank is usually known as the

12647: 12606: 12557: 12449: 12416: 8032: 7922: 7902: 7814: 7616: 7598: 7562: 7400: 7346: 7040: 6914: 6896: 6824: 6734: 6680: 6428: 6302: 6140: 6086: 6014: 5924: 5744: 5708: 5654: 5546: 5276: 5042: 4934: 4916: 4844: 4808: 4574: 3914:

indicated rates would be low for an "extended period", and the

3796: 3677: 3236: 2953: 2862: 2187: 764: 289: 9989: 9818:"What Do We Know About the Effects of Macroprudential Policy?" 9264:

Gabriele Teichmann, "Sal. Oppenheim jr. & Cie., Cologne."

9253:

The House of Rothschild: Volume 1: Money's Prophets: 1798–1848

9125:

Central Banks at a Crossroads: What Can We Learn from History?

9041:. London: Henry S. King and Co. (etext by Project Gutenberg). 8095:

Evolution of Central Banking?: De Nederlandsche Bank 1814–1852

4292:

for example is highly fragmented with 3 federal agencies, the

3263:

Head office of the Bank of Java in Batavia, early 20th century

2392:

was the oldest central bank in continuous operation, with the

12519: 12455: 10982:"Top 67 Largest Central Bank Rankings by Total Assets – SWFI" 10673: 9742: 8363:"Fed's rate hikes likely to cause a recession, research says" 7918: 7894: 7885:

Collectively, central banks purchase less than 500 tonnes of

7796: 7508: 7382: 7292: 7220: 6950: 6860: 6644: 6572: 6374: 6212: 6050: 5996: 5942: 5834: 5762: 5636: 5564: 5402: 5132: 5114: 4826: 3328: 2783: 2752: 1779: 1555: 872: 823: 12813: 9779:"Unburnable carbon 2013: wasted capital and stranded assets" 4276:, or by an independent government agency, for example, UK's 3134:, in which he advocated for the bank to officially become a 2853:, first established in 1407, and significantly later by the 12626: 12579: 12410: 12387: 10250: 9331:(Royal Historical Society/Boydell Press, 1999), pp. 117–18. 7490: 6788: 6698: 6356: 6122: 5888: 5870: 5510: 5258: 5096: 4338: 4037: 3940: 3709: 2802: 2772: 2764: 1081: 919: 845: 474: 12258:

International Centre for Settlement of Investment Disputes

9949:"Central Banks and the Transition to a Low-Carbon Economy" 9122:

Michael D. Bordo; Marc Flandreau; Jan F. Qvigstad (2016).

3074:, with branches in major cities across Europe, as well as 2275:, and in some cases also to enforce policies on financial 12461: 10563:

U.S. Federal Reserve Board of Governors FAQ, 22 July 2015

9900:

Schoenmaker, Dirk; Van Tilburg, Rens (1 September 2016).

8671:

Forrest Capie; Charles Goodhart; Norbert Schnadt (1994).

8512:

Heinemann, Friedrich; Ullrich, Katrin (3 November 2005).

3567:. Today more than 70 central banks are part of the NGFS. 16:

Government body that manages currency and monetary policy

11074:– C E V Borio, Bank for International Settlements, Basel 10877:"Assets of central banks globally 2002–2020 | Statistic" 10827:"Central Bank Independence in the World: A New Data Set" 10704:"Privileges and immunities of the European Central Bank" 10582:

U.S. Federal Reserve Board of Governors FAQ 17 June 2011

9486:(Press release). European Central Bank. 23 January 2020. 9038:

Lombard Street: A Description of the Money Market (1873)

2992:, as Secretary of the Treasury in the 1790s, set up the 2357:, agreed on a definition of central banks that was both 11035: 10072:

Monetary Policy, Financial Crises, and the Macroeconomy

2933:

was granted on 27 July 1694 through the passage of the

2790:

in the form of paper currency, is typically not freely

10933:"Why Central Bank Buying Has the Gold Market Guessing" 9899: 2794:

and thus of inferior quality, occasionally leading to

12253:

International Bank for Reconstruction and Development

10304:. Federal Reserve Bank of Minneapolis. Archived from 10015: 9865:"Economic Policies since the Global Financial Crisis" 9484:"ECB launches review of its monetary policy strategy" 9160: 8391: 8009: 2763:. Like many other currencies, the shat was linked to 12498: 11043:"The Federal Reserve System: Purposes and Functions" 10467:. In Durlauf, Steven N.; Blume, Lawrence E. (eds.). 9359:

Bray Hammond, "Jackson's Fight with the 'Money Power

8134: 4507:

Central bank independence index by Garriga for 2012

4492: 3525:

The General Theory of Employment, Interest and Money

3255:

Colonial, extraterritorial and federal central banks

3003: 2482:

has kept its original name of 1694, even though the

14374:

Public–Private Investment Program for Legacy Assets

8763: 3355:) rather than a supranational one. The present-day 2373:such as Hungary's between 1950 and 1987, where the 10372: 10187: 8825:, Oxford: Oxford University Press, 2016, pp. 43–44 8676: 3928: 10907:"Swiss love affair with gold could heat up again" 9303:"£2 note issued by Evans, Jones, Davies & Co" 8605: 3885: 3835:A central bank affects the monetary base through 3539:Economic growth can be enhanced by investment in 3131:Lombard Street: A Description of the Money Market 2801:From the 12th century, a network of professional 2255:of a country or monetary union. In contrast to a 14781: 10672:EU, Transparency International (28 March 2017). 10300:Kehoe, Patrick J.; Chari, V. V. (January 2006). 9588:Macaire, Camille; Naef, Alain (9 January 2022). 9292:, Paris: Presses Universitaires de France, 1981. 8710: 8511: 8287:. Princeton Oxford: Princeton University Press. 3561:Network for Greening the Financial System (NGFS) 2820: 10140: 9863:Arestis, Philip; Sawyer, Malcolm, eds. (2017). 8729: 8067:History of central banking in the United States 4466:can reduce de facto central bank independence. 3142:, sometimes referred to as "Bagehot's dictum". 2881: 2729:History of central banking in the United States 12085:(dependent) territories, former countries, or 10820: 10818: 10420:The Oxford Handbook of Public Choice, Volume 2 10413: 10322:Alesina, Alberto; Summers, Lawrence H (1993). 10321: 9815: 9647:Dikau, Simon; Volz, Ulrich (8 December 2021). 9499:"The European Central Bank and climate change" 9392:"The Ransom: How a French Bank Captured Haiti" 9082: 8823:The Oxford Handbook of Greek and Roman Coinage 3826: 3382: 2898:The Swedish central bank, known since 1866 as 14764:Personal consumption expenditures price index 13939: 12829: 12342: 12306:Central banks and currencies of the Caribbean 12111: 11093: 10573:Is the Federal Reserve accountable to anyone? 9862: 9816:Galati, Gabriele; Moessner, Richhild (2017). 9086:Banking and Finance: Theory, Law and Practice 8732:Central Banking before 1800: A Rehabilitation 8683:. Cambridge, UK: Cambridge University Press. 8610:. Washington DC: International Monetary Fund. 8314:UN Division for Social Policy and Development 8280: 8141:Journal of Business & Economic Statistics 8091: 4253: 3655:The functions of a central bank may include: 2645:(est. 1668, current name in use since 1866), 2401:, defined as financial money (in contrast to 2212: 1377: 444: 12316:Central banks and currencies of the Americas 12301:Central banks and currencies of Asia-Pacific 11107: 9290:Henry Thornton, un précurseur de J.M. Keynes 8847: 8838:, Oxford University Press, 2012, pp. 221–225 8623:"The Hungarian Banking System in Transition" 8620: 8444:Hayo, Bernd; Hefeker, Carsten (March 2001). 7933:Top 5 largest central banks by total assets 4367: 3951:International regulatory standards for banks 3359:of Southern Africa has comparable features. 3201:. The EFO thus directed the creation of the 2650: 14363:2009 Supervisory Capital Assessment Program 14280:Federal Reserve v. Investment Co. Institute 10815: 10760: 10416:"The Politics of Central Bank Independence" 10375:"The Politics of Central Bank Independence" 10278:1871.1/13a48b84-5aed-436c-970f-9b8fcad3fdb4 10016:European Central Bank (19 September 2022). 9587: 9350:(University of Chicago Press, 2008), p. 49. 8766:"Interwar Central Banks: A Tour d' Horizon" 8443: 8098:. Cham (Switzerland): Springer. p. 4. 3744:Central banks implement a country's chosen 14368:Term Asset-Backed Securities Loan Facility 13953: 13946: 13932: 12836: 12822: 12349: 12335: 12118: 12104: 11100: 11086: 10641:Bank, European Central (12 January 2017). 10299: 8601: 8599: 4424:Functional & operational independence: 4260: 4246: 3644: 3335:, established in 1885, and the Rome-based 3221:, as well as comprehensive reforms of the 2551:(1913) and thereafter British colonies or 2219: 2205: 1384: 1370: 451: 437: 31: 11049:, describing its role in the macroeconomy 10825:Garriga, Ana Carolina (19 October 2016). 10786: 10390: 10276: 10069: 9664: 9646: 9339: 9337: 8931:, Cambridge University Press, 1997, p. 39 8890:Quinn, Stephen; Roberds, William (2006), 8848:Quinn, Stephen; Roberds, William (2023). 8558: 8409: 4302:Office of the Comptroller of the Currency 3286:Hongkong and Shanghai Banking Corporation 3037:Board of Governors of the Federal Reserve 714:Transaction (checking / current) 12273:Multilateral Investment Guarantee Agency 11037:International Journal of Central Banking 10317: 10315: 10189:"What is China's digital currency plan?" 8723: 8281:Binder, Sarah A.; Spindel, Mark (2017). 8175:The New Palgrave Dictionary of Economics 4469:International organizations such as the 4342: 4339:Central bank governance and independence 3941:Banking supervision and other activities 3453: 3386: 3258: 3041: 3022: 3007: 2885: 2824: 2813:). Banks could use book money to create 2637:in 2020 but still uses the acronym SAMA. 2325: 10824: 10041: 9034: 8918:, Oxford University Press, 2012, p. 223 8614: 8596: 8468: 8330: 8195:The Bulletin of the Faculty of Commerce 4330: 4319:and runaway lending bubbles based on a 3331:. Other cases include the London-based 2906:in 1664 from the remains of the failed 2384:(est. 1657), as the original issuer of 14782: 14044:Monetary Policy Report to the Congress 12356: 12311:Central banks and currencies of Europe 12296:Central banks and currencies of Africa 12146:Basel Committee on Banking Supervision 10593:"Rethinking Central-Bank Independence" 9946: 9743:European Systemic Risk Board. (2016). 9334: 8666: 8664: 8307: 3960:Basel Committee on Banking Supervision 2584:Central Bank of the Republic of Turkey 1529:Measures of national income and output 14337:Unfair or Deceptive Acts or Practices 13927: 12817: 12715:Commodity theory of money (Metallism) 12330: 12263:International Development Association 12099: 11081: 10716:from the original on 20 December 2017 10621:Banaian, Burdekin, and Willett, 1998 10462: 10428:10.1093/oxfordhb/9780190469771.013.23 10392:10.1146/annurev-polisci-071112-221121 10354:from the original on 10 November 2021 10312: 10202:from the original on 10 December 2022 10141:BankUnderground (13 September 2017). 10122:from the original on 13 November 2017 9559:"The Green Central Banking Scorecard" 9539:from the original on 19 November 2020 9509:from the original on 27 November 2020 9438:from the original on 26 November 2020 8759: 8757: 8755: 8753: 8751: 8749: 8747: 8745: 8743: 8741: 8398:European Journal of Political Economy 8219:Apel, Emmanuel (November 2007). "1". 4462:so that markets know what to expect. 4294:Federal Deposit Insurance Corporation 3933:Since 2017, prospect of implementing 2809:(including Southern France, with the 14752:Monetary policy of the United States 14331:Emergency Economic Stabilization Act 14288:Northeast Bancorp v. Federal Reserve 14261:Humphrey–Hawkins Full Employment Act 11068:from the original on 9 October 2022. 10913:from the original on 5 November 2018 10865:– via Taylor and Francis+NEJM. 10684:from the original on 7 November 2017 10653:from the original on 7 November 2017 10640: 10334:(2). Blackwell Publishing: 151–162. 10328:Journal of Money, Credit and Banking 10232:from the original on 9 November 2019 10074:. Springer, Cham. pp. 105–121. 10042:Roubini, Nouriel (14 January 2016). 8970:, Federal Reserve Bank of Cleveland. 8673:"The development of central banking" 8218: 8208:from the original on 9 October 2022. 7850: 4290:Bank regulation in the United States 3751: 3421:Eastern Caribbean Currency Authority 2923:Charles Montagu, 1st Earl of Halifax 2861:and by a network of institutions in 1343: 14039:Federal Reserve Statistical Release 12913:Agent-based computational economics 9783:Management of Environmental Quality 9035:Bagehot, Walter (5 November 2010). 8802:Monetary Practices in Ancient Egypt 8661: 8546:from the original on 17 August 2017 8499:from the original on 16 August 2021 8245:"Ownership and independence of FED" 7897:, the United States, Japan and the 3804:denominated in foreign currencies. 3425:Central Bank of West African States 3187:Economic and Financial Organization 2247:is an institution that manages the 13: 14325:Subprime mortgage crisis responses 12141:Bank for International Settlements 11007: 10992:from the original on 28 March 2020 10671: 10444:from the original on 1 August 2021 10379:Annual Review of Political Science 9496: 9464:from the original on 19 April 2020 9023:The Financial Revolution 1660–1760 8961:"A Brief History of Central Banks" 8738: 8713:"A Brief History of Central Banks" 8581:from the original on 8 August 2017 8490:10.1093/oxfordjournals.oep.a028657 8373:from the original on 14 March 2023 8343:from the original on 11 March 2023 8251:from the original on 25 March 2020 8062:Bank for International Settlements 4475:Bank for International Settlements 3733: 3633:trend to favor low-carbon assets. 3534: 3486: 3458: 3149:developed under the international 2490:expanded its remit to the broader 2271:in their jurisdiction, to prevent 310:Trade / commerce ministry 14: 14811: 14390:Commercial Paper Funding Facility 14343:Commercial Paper Funding Facility 12692:Akkadian standards of measurement 12268:International Finance Corporation 12125: 11024: 10943:from the original on 6 March 2019 10373:Fernández-Albertos, José (2015). 10153:from the original on 10 July 2019 9229:. Bank of Finland. Archived from 8456:from the original on 30 June 2015 4493:Central bank independence indices 3878:A third alternative is to change 3848:reverse repurchase agreement rate 3764:(disallowed for countries in the 3557:Paris agreement on climate change 3550: 3349:Belgium–Luxembourg Economic Union 3004:National central banks since 1800 2627:Cayman Islands Monetary Authority 2341:, leading central bankers of the 14727:Criticism of the Federal Reserve 14301:Expedited Funds Availability Act 14017: 13371:neoclassical–Keynesian synthesis 12501: 10887:from the original on 5 June 2019 10857:from the original on 1 July 2023 10803:from the original on 1 July 2023 10742:from the original on 15 May 2019 10525:, Cornell University Press, 1992 10501:from the original on 1 July 2023 9628:from the original on 1 July 2023 9569:from the original on 29 May 2022 9305:. British Museum. Archived from 9181:from the original on 1 July 2023 9142:from the original on 1 July 2023 9103:from the original on 1 July 2023 8999:from the original on 1 July 2023 8469:Mangano, Gabriel (1 July 1998). 8112:from the original on 1 July 2023 8031: 8019: 7855: 7825: 7807: 7789: 7771: 7753: 7735: 7717: 7699: 7681: 7663: 7645: 7627: 7609: 7591: 7573: 7555: 7537: 7519: 7501: 7483: 7465: 7447: 7429: 7411: 7393: 7375: 7357: 7339: 7321: 7303: 7285: 7267: 7249: 7231: 7213: 7195: 7177: 7159: 7141: 7123: 7105: 7087: 7069: 7051: 7033: 7015: 6997: 6979: 6961: 6943: 6925: 6907: 6889: 6871: 6853: 6835: 6817: 6799: 6781: 6763: 6745: 6727: 6709: 6691: 6673: 6655: 6637: 6619: 6601: 6583: 6565: 6547: 6529: 6511: 6493: 6475: 6457: 6439: 6421: 6403: 6385: 6367: 6349: 6331: 6313: 6295: 6277: 6259: 6241: 6223: 6205: 6187: 6169: 6151: 6133: 6115: 6097: 6079: 6061: 6043: 6025: 6007: 5989: 5971: 5953: 5935: 5917: 5899: 5881: 5863: 5845: 5827: 5809: 5791: 5773: 5755: 5737: 5719: 5701: 5683: 5665: 5647: 5629: 5611: 5593: 5575: 5557: 5539: 5521: 5503: 5485: 5467: 5449: 5431: 5413: 5395: 5377: 5359: 5341: 5323: 5305: 5287: 5269: 5251: 5233: 5215: 5197: 5187:Democratic Republic of the Congo 5179: 5161: 5143: 5125: 5107: 5089: 5071: 5053: 5035: 5017: 4999: 4981: 4963: 4945: 4927: 4909: 4891: 4873: 4855: 4837: 4819: 4801: 4783: 4765: 4747: 4729: 4711: 4693: 4675: 4657: 4639: 4621: 4603: 4585: 4567: 4549: 4531: 4513: 4410:influencing government politics. 4393:Government Accountability Office 3170:. In 1913, the U.S. created the 2631:Saudi Arabian Monetary Authority 2522:State Bank of the Russian Empire 2186: 2174: 1415: 1352: 1342: 1333: 1332: 481: 419: 14195:U.S. Treasury Department Accord 12378:(W. Mesoamerica & N. Andes) 12087:states with limited recognition 11018:Survey of International Finance 10974: 10971:Bloomberg News, 16 October 2016 10955: 10925: 10899: 10869: 10754: 10728: 10696: 10665: 10634: 10615: 10603:from the original on 3 May 2020 10585: 10566: 10547: 10528: 10513: 10456: 10407: 10366: 10293: 10244: 10214: 10180: 10165: 10134: 10104: 10063: 10035: 10009: 9992:"Strategic quantitative easing" 9983: 9940: 9893: 9856: 9809: 9771: 9736: 9689: 9640: 9581: 9551: 9521: 9490: 9476: 9450: 9420: 9402: 9383: 9370: 9367:(June 1956) 7#4: 9–11, 100–103. 9353: 9321: 9295: 9282: 9258: 9245: 9219: 9193: 9154: 9128:. Cambridge UP. pp. 1–17. 9115: 9076: 9057: 9045:from the original on 9 May 2012 9028: 9015: 8973: 8953: 8934: 8927:Kurgan-van Hentenryk, Ginette. 8921: 8908: 8903:Federal Reserve Bank of Atlanta 8884: 8841: 8828: 8815: 8794: 8704: 8434: 8385: 8355: 8331:Inskeep, Steve (24 June 2022). 8324: 3929:Central Bank Digital Currencies 3708:regulating and supervising the 3306:Banque de l'Afrique Occidentale 3231:National Bank of Czechoslovakia 3035:houses the main offices of the 2994:First Bank of the United States 2925:, following a 1691 proposal by 2615:Monetary Authority of Singapore 14397:Corner Post v. Federal Reserve 14349:Primary Dealer Credit Facility 12172:Contractionary monetary policy 10761:Gavin, M.; Manger, M. (2023). 10736:"Fed Appointments - IGM Forum" 10257:Journal of Economic Literature 9161:Michael Stephen Smith (2006). 8854:. Cambridge University Press. 8559:Cecchetti, Stephen G. (1998). 8411:10.1016/j.ejpoleco.2022.102296 8301: 8274: 8270:Deutsche Bundesbank#Governance 8263: 8237: 8212: 8180: 8167: 8128: 8092:Uittenbogaard, Roland (2014). 8084: 7275:St. Vincent and the Grenadines 4487:Financial Services Action Plan 3892:unconventional monetary policy 3886:Unconventional monetary policy 3586:The implications of potential 3429:Bank of Central African States 3375:between 1948 and 1957, or the 3371:in its first two decades, the 3298:submarine communications cable 2996:despite heavy opposition from 2134:Publications in macroeconomics 1132:Strategic financial management 1: 13986:Federal Open Market Committee 13307:Critique of political economy 12843: 12695: 12643:List of historical currencies 12548:Central bank digital currency 10843:10.1080/03050629.2016.1188813 10767:Comparative Political Studies 10643:"Why is the ECB independent?" 9795:10.1108/meq.2013.08324eaa.003 9666:10.1080/14693062.2021.2012122 9606:10.1080/14693062.2021.2013153 8078: 7843: 4236:Business and Economics Portal 3935:Central Bank Digital Currency 3442:and the establishment of the 3203:Oesterreichische Nationalbank 3193:, influenced by the ideas of 2865:that later consolidated into 2821:Early municipal central banks 2740: 2321: 2259:, a central bank possesses a 1286:Sustainable development goals 14356:Bloomberg v. Federal Reserve 14255:Electronic Fund Transfer Act 14237:Home Mortgage Disclosure Act 14231:Equal Credit Opportunity Act 14119:National Monetary Commission 12749:Standard of deferred payment 12177:Expansionary monetary policy 11045:– A publication of the U.S. 9906:Comparative Economic Studies 8941:History of Sveriges Riksbank 8568:FRBNY Economic Policy Review 8153:10.1080/07350015.2014.959124 4193:Pillar 2: Supervisory review 4050:Pillar 1: Regulatory capital 3832:charge customers for loans. 3367:from 1878 to 1918, the U.S. 2882:Early national central banks 2633:(est. 1952) was renamed the 2623:Hong Kong Monetary Authority 2547:"Reserve Bank": in the U.S. 2538:State Bank of Czechoslovakia 7: 12243:International Monetary Fund 11020:, Oxford University Press. 10536:"Central Bank Independence" 10465:"Central Bank Independence" 10080:10.1007/978-3-319-56261-2_6 9749:. LU: Publications Office. 8959:Bordo, M. (December 2007), 8621:Imre Lengyel (April 1994). 8005: 4483:international organizations 4479:International Monetary Fund 4407:Institutional independence: 4310:deposit-taking institutions 4278:Financial Conduct Authority 4219:Pillar 3: Market disclosure 3827:Monetary policy instruments 3766:International Monetary Fund 3680:and as the bankers' bank (" 3436:Economic and Monetary Union 3383:Supranational central banks 3377:National Bank of Yugoslavia 3339:, established in 1925. The 3122:Overend, Gurney and Company 2968:first created in 1767, and 2843:Taula de canvi de Barcelona 2659:Bangko Sentral ng Pilipinas 2619:Maldives Monetary Authority 2613:"Monetary Authority", e.g. 2561:Reserve Bank of New Zealand 2407:Taula de canvi de Barcelona 2371:single-tier banking systems 10: 14816: 14552:Vice Chair for Supervision 14249:Federal Reserve Reform Act 14243:Community Reinvestment Act 13445:Real business-cycle theory 10831:International Interactions 10116:www.economics-ejournal.org 9167:. Harvard UP. p. 59. 8734:. Oxford University Press. 8606:Marcello De Cecco (1994). 8450:WWZ-Discussion Paper 01/03 8047:Fractional-reserve banking 4351: 3737: 3648: 3199:Brussels Conference (1920) 3166:of the 1830s by President 2744: 2722: 2718: 2557:South African Reserve Bank 2536:(or Gosbank, 1922) or the 1885:New neoclassical synthesis 1868:Real business-cycle theory 1037:Fractional-reserve banking 965:Enterprise risk management 139:Deficit / surplus 14714: 14581: 14516: 14407: 14267:International Banking Act 14097: 14052: 14026: 14015: 14009:Federal Reserve Bank Note 13994: 13961: 13885: 13843: 13485: 13219: 12968: 12933: 12851: 12635: 12518: 12496: 12471: 12436: 12364: 12283: 12231: 12190: 12159: 12151:Financial Stability Board 12133: 12075: 12007: 11956: 11851: 11585: 11341: 11113: 10779:10.1177/00104140221139513 10559:30 September 2012 at the 10174:IMF Staff Discussion Note 10044:"Troubled Global Economy" 9877:10.1007/978-3-319-60459-6 9714:10.1038/s41558-018-0175-0 9275:29 September 2018 at the 9070:29 September 2018 at the 8778:10.1017/9781009367578.003 8711:Michael D. Bordo (2007). 8223:. Routledge. p. 14. 4368: 4354:Central bank independence 4280:. It examines the banks' 3722:Coins and notes issuance; 3676:acting as a government's 3565:climate change mitigation 2980:, established in 1769 by 2917:The establishment of the 2682:National Bank of Pakistan 2651: 2596:Central Bank of Sri Lanka 2588:Central Bank of Argentina 2569:Reserve Bank of Australia 2444:Bank of the United States 2416: 940:Diversification (finance) 240:Monetary (currency) union 14201:Bank Holding Company Act 12732:Quantity theory of money 12553:Chattel/movable property 11891:Curaçao and Sint Maarten 11108:Central banks by country 10967:27 February 2017 at the 9996:New Economics Foundation 9503:New Economics Foundation 9413:10 December 2022 at the 9266:Financial History Review 8730:Ulrich Bindseil (2019). 7689:United States of America 5079:Central African Republic 4327:of the few large banks. 3873:monetary policy of China 3712:, and currency exchange; 3662:by setting the official 3555:In the aftermath of the 3509:involuntary unemployment 3353:National Bank of Belgium 3337:National Bank of Albania 3128:wrote on the subject in 2998:Jeffersonian Republicans 2978:Russian Assignation Bank 2600:Central Bank of Paraguay 2515:National Bank of Ukraine 2499:National Bank of Belgium 1890:Saltwater and freshwater 890:Automated teller machine 13085:Industrial organization 12908:Computational economics 10578:4 February 2014 at the 10541:12 October 2016 at the 10477:10.1057/9780230280854_3 10463:Walsh, Carl E. (2010). 9953:SSRN Electronic Journal 9947:Monnin, Pierre (2018). 9083:Clifford Gomez (2011). 8966:3 February 2008 at the 8905:, Working Paper 2006–13 7974:People's Bank of China 7952:Federal Reserve System 7901:. The central banks of 4441:Financial independence: 4321:single point of failure 3789:Bulgarian National Bank 3645:Central bank operations 3497:structural unemployment 3492:Frictional unemployment 3470:Since inflation lowers 3333:Imperial Bank of Persia 3223:Bulgarian National Bank 3211:Hungarian National Bank 3176:The Federal Reserve Act 3174:through the passing of 2674:National Bank of Greece 2592:Central Bank of Ireland 2511:National Bank of Poland 2503:Bulgarian National Bank 2375:Hungarian National Bank 1818:International economics 1743:Overlapping generations 1137:Stress test (financial) 14319:Gramm–Leach–Bliley Act 14190:Employment Act of 1946 13955:Federal Reserve System 13290:Modern monetary theory 12955:Experimental economics 12925:Pluralism in economics 12898:Mathematical economics 12791:Complementary currency 12720:Credit theory of money 12680:Depository institution 11635:Bosnia and Herzegovina 11121:Central African States 10937:Bloomberg Businessweek 9025:(1991, Longman), p. 34 8914:Collins, Christopher. 8834:Collins, Christopher. 8478:Oxford Economic Papers 4453:), and to go to court. 4431:Personal independence: 4349: 3837:open market operations 3448:European banking union 3399: 3325:National Bank of Haiti 3264: 3241:Central Bank of Brazil 3172:Federal Reserve System 3111:. Under the 1844 Act, 3054: 3048:People's Bank of China 3039: 3020: 2912:Riksdag of the Estates 2895: 2838: 2604:Central Bank of Brazil 2542:People's Bank of China 2534:State Bank of the USSR 2526:State Bank of Pakistan 2497:"National Bank": e.g. 2334: 2304:macroeconomic policies 2294:Central banks in most 2161:Mathematical economics 1912:Modern monetary theory 1675:Universal basic income 351:Discretionary spending 14747:Lender of last resort 14423:William P. G. Harding 14225:Smithsonian Agreement 14155:Emergency Banking Act 13981:Federal Reserve Banks 12774:Digital gold currency 12291:List of central banks 12223:Sovereign wealth fund 12218:Open market operation 11271:São Tomé and Príncipe 10647:European Central Bank 10022:European Central Bank 9789:(5). 1 January 2013. 9702:Nature Climate Change 9460:. 12 September 2019. 9380:10.4 (2011): 424–447. 8860:10.1017/9781108594752 8808:25 April 2017 at the 8072:List of central banks 7059:Serbia and Montenegro 6987:Sao Tome and Principe 6267:Republic of Macedonia 5205:Republic of the Congo 4593:Antigua & Barbuda 4387:and confirmed by the 4346: 4298:Federal Reserve Board 3809:European Central Bank 3690:managing a country's 3682:lender of last resort 3639:European Central Bank 3572:European Central Bank 3570:In January 2020, the 3454:Central bank mandates 3444:European Central Bank 3393:European Central Bank 3390: 3373:Bank deutscher Länder 3365:Austro-Hungarian Bank 3341:State Bank of Morocco 3321:Imperial Ottoman Bank 3302:Banque de l'Indochine 3262: 3245:Reserve Bank of India 3136:lender of last resort 3109:Bank Charter Act 1844 3089:, an opponent of the 3045: 3026: 3011: 2945:to banks suffering a 2943:lender of last resort 2889: 2828: 2805:emerged primarily in 2778:The mere issuance of 2670:Central Bank of India 2647:De Nederlandsche Bank 2608:European Central Bank 2580:Central Bank of China 2578:"Central Bank": e.g. 2565:Reserve Bank of India 2530:State Bank of Vietnam 2329: 2001:Wesley Clair Mitchell 1976:Thomas Robert Malthus 1813:Development economics 1311:Too connected to fail 1072:Investment management 970:Environmental finance 829:Correspondent account 523:Community development 14429:Daniel R. Crissinger 14313:FDIC Improvement Act 14213:Truth in Lending Act 14184:Bretton Woods system 14113:Aldrich–Vreeland Act 14004:Federal Reserve Note 13164:Social choice theory 12920:Behavioral economics 12903:Complexity economics 12653:Coincidence of wants 12473:Representative money 10986:www.swfinstitute.org 10628:2 April 2017 at the 10597:Journal of Democracy 10422:. pp. 498–519. 10269:10.1257/jel.20231683 10198:. 25 November 2019. 9961:10.2139/ssrn.3350913 9434:. 12 December 2017. 9288:Philippe Beaugrand, 9089:. PHI. p. 100. 8985:. Arno Press. 1979. 8821:Metcalf, William E. 8369:. 24 February 2023. 8320:on 18 November 2007. 8057:Full-reserve banking 7999:$ 2,138,080,000,000 7988:$ 3,103,230,000,000 7985:Deutsche Bundesbank 7977:$ 5,144,760,000,000 7966:$ 5,878,875,571,224 7955:$ 8,757,460,000,000 7653:United Arab Emirates 4331:Public communication 3880:reserve requirements 3762:gold-backed currency 3706:Banking supervision: 3674:Financial stability: 3666:and controlling the 3612:integrated reporting 3600:financial regulation 3395:'s main building in 3357:Common Monetary Area 3317:capital accumulation 3310:Banque de Madagascar 3294:electrical telegraph 2910:and answered to the 2847:Bank of Saint George 2573:Reserve Bank of Fiji 1738:Ramsey–Cass–Koopmans 1578:Liquidity preference 1209:Exchange traded fund 1087:Mathematical finance 1047:Fundamental analysis 1042:Full-reserve banking 648:Bank holding company 558:Export credit agency 466:Part of a series on 14179:Banking Act of 1935 14125:Federal Reserve Act 13248:American (National) 12948:Economic statistics 12801:Time-based currency 12167:Capital requirement 11943:Trinidad and Tobago 11126:West African States 10939:. 29 October 2018. 10909:. 7 November 2014. 10228:. 6 November 2019. 9918:10.1057/ces.2016.11 9497:Lerven, Frank van. 9378:White House Studies 9268:1.1 (1994): 69–78, 8717:Economic Commentary 8529:10.2139/ssrn.832905 8308:Scholvinck, Johan. 7934: 7527:Trinidad and Tobago 7257:St. Kitts and Nevis 4418:fixed exchange rate 4370:Deutsche Bundesbank 4361:fixed exchange rate 4058:Capital requirement 3900:quantitative easing 3688:Reserve management: 3630:Quantitative easing 3624:investment vehicles 3520:John Maynard Keynes 3278:Banque de l'Algérie 3091:real bills doctrine 3078:in Switzerland and 3072:House of Rothschild 3046:Head office of the 2982:Catherine the Great 2831:Llotja de Barcelona 2666:State Bank of India 2653:Deutsche Bundesbank 2520:"State Bank": e.g. 2507:Swiss National Bank 2289:terrorism financing 2277:consumer protection 2193:Business portal 2129:Macroeconomic model 2006:John Maynard Keynes 1803:Economic statistics 1748:General equilibrium 1301:Time value of money 1127:Statistical finance 1117:Sustainable finance 1067:Investment advisory 709:Time deposit (Bond) 14582:Current presidents 14563:Christopher Waller 14453:Marriner S. Eccles 14167:Glass–Steagall Act 14077:Federal funds rate 12670:Clearinghouse bank 12358:Medium of exchange 11908:Dominican Republic 10469:Monetary Economics 9834:10.1111/ecca.12229 9396:The New York Times 9309:on 18 January 2012 9233:on 28 October 2014 8947:2008-05-04 at the 8897:3 May 2011 at the 8639:10.1007/BF00807358 7932: 6897:Russian Federation 6069:Korea, Republic of 5367:Dominican Republic 4881:Bosnia-Herzegovina 4447:Legal independence 4435:security of tenure 4414:Goal independence: 4350: 4306:money center banks 3912:US Federal Reserve 3869:federal funds rate 3400: 3265: 3055: 3040: 3021: 2990:Alexander Hamilton 2896: 2859:Republic of Venice 2839: 2725:History of banking 2635:Saudi Central Bank 2488:Acts of Union 1800 2399:central bank money 2335: 2263:on increasing the 2245:monetary authority 2081:Edward C. Prescott 1808:Monetary economics 1276:Security (finance) 1251:History of banking 1147:Structured product 1142:Structured finance 955:Economic expansion 468:financial services 356:Mandatory spending 280:Non-tariff barrier 218:Monetary authority 14777: 14776: 14621:Loretta J. Mester 14611:Patrick T. Harker 14477:G. William Miller 14465:William M. Martin 14417:Charles S. Hamlin 13921: 13920: 13452:New institutional 12811: 12810: 12796:Sectoral currency 12742:Market monetarism 12705:Code of Hammurabi 12494: 12493: 12486:Gold certificates 12324: 12323: 12093: 12092: 11896:Eastern Caribbean 10534:Stanley Fischer, 10486:978-0-230-28085-4 10437:978-0-19-046977-1 9886:978-3-319-60458-9 9764:978-92-95081-24-6 9533:www.bundesbank.de 9365:American Heritage 9270:online in English 8869:978-1-108-59475-2 8787:978-1-009-36757-8 8294:978-0-691-16319-2 8201:(4). March 2007. 8003: 8002: 7877: 7876: 7841: 7840: 5439:Equatorial Guinea 4935:Brunei Darussalam 4460:inflation targets 4458:set of published 4270: 4269: 3952: 3856:consumer spending 3821:Right of Issuance 3752:Currency issuance 3308:(est. 1901), and 3191:League of Nations 3124:. The journalist 2966:Caisse d'Escompte 2902:, was founded in 2900:Sveriges Riksbank 2871:Bank of Amsterdam 2851:Republic of Genoa 2833:where the city's 2643:Sveriges Riksbank 2484:Act of Union 1707 2442:"Bank of ": e.g. 2424:Bank of Amsterdam 2411:Bank of Amsterdam 2390:Sveriges Riksbank 2296:developed nations 2229: 2228: 2156:Political economy 2111:N. Gregory Mankiw 2101:Thomas J. Sargent 1946:Market monetarism 1760:Endogenous growth 1590:National accounts 1394: 1393: 1189:Corporate finance 1184:Capital structure 1159: 1158: 930:Corporate finance 750: 749: 461: 460: 402:Fiscal adjustment 14807: 14538:Philip Jefferson 14459:Thomas B. McCabe 14384:Durbin amendment 14173:Gold Reserve Act 14021: 14020: 13948: 13941: 13934: 13925: 13924: 13125:Natural resource 12960:Economic history 12886:Mechanism design 12838: 12831: 12824: 12815: 12814: 12779:Virtual currency 12764:Digital currency 12700: 12697: 12660:Bureau de change 12511: 12506: 12505: 12504: 12437:Domestic animals 12434: 12433: 12351: 12344: 12337: 12328: 12327: 12248:World Bank Group 12120: 12113: 12106: 12097: 12096: 11979:Papua New Guinea 11102: 11095: 11088: 11079: 11078: 11073: 11069: 11067: 11060: 11002: 11001: 10999: 10997: 10978: 10972: 10959: 10953: 10952: 10950: 10948: 10929: 10923: 10922: 10920: 10918: 10903: 10897: 10896: 10894: 10892: 10873: 10867: 10866: 10864: 10862: 10822: 10813: 10812: 10810: 10808: 10790: 10773:(8): 1189–1223. 10758: 10752: 10751: 10749: 10747: 10732: 10726: 10725: 10723: 10721: 10715: 10708: 10700: 10694: 10693: 10691: 10689: 10669: 10663: 10662: 10660: 10658: 10638: 10632: 10619: 10613: 10612: 10610: 10608: 10589: 10583: 10570: 10564: 10551: 10545: 10532: 10526: 10517: 10511: 10510: 10508: 10506: 10460: 10454: 10453: 10451: 10449: 10411: 10405: 10404: 10394: 10370: 10364: 10363: 10361: 10359: 10319: 10310: 10309: 10297: 10291: 10290: 10280: 10248: 10242: 10241: 10239: 10237: 10218: 10212: 10211: 10209: 10207: 10191: 10184: 10178: 10177: 10169: 10163: 10162: 10160: 10158: 10147:Bank Underground 10138: 10132: 10131: 10129: 10127: 10108: 10102: 10101: 10067: 10061: 10060: 10058: 10056: 10039: 10033: 10032: 10030: 10028: 10013: 10007: 10006: 10004: 10002: 9987: 9981: 9980: 9944: 9938: 9937: 9897: 9891: 9890: 9860: 9854: 9853: 9828:(340): 735–770. 9813: 9807: 9806: 9775: 9769: 9768: 9740: 9734: 9733: 9693: 9687: 9686: 9668: 9644: 9638: 9637: 9635: 9633: 9585: 9579: 9578: 9576: 9574: 9555: 9549: 9548: 9546: 9544: 9525: 9519: 9518: 9516: 9514: 9494: 9488: 9487: 9480: 9474: 9473: 9471: 9469: 9454: 9448: 9447: 9445: 9443: 9432:Banque de France 9424: 9418: 9406: 9400: 9399: 9387: 9381: 9374: 9368: 9362: 9357: 9351: 9341: 9332: 9325: 9319: 9318: 9316: 9314: 9299: 9293: 9286: 9280: 9262: 9256: 9251:Niall Ferguson, 9249: 9243: 9242: 9240: 9238: 9223: 9217: 9216: 9214: 9212: 9197: 9191: 9190: 9188: 9186: 9158: 9152: 9151: 9149: 9147: 9119: 9113: 9112: 9110: 9108: 9080: 9074: 9061: 9055: 9054: 9052: 9050: 9032: 9026: 9019: 9013: 9012: 9006: 9004: 8977: 8971: 8957: 8951: 8938: 8932: 8925: 8919: 8912: 8906: 8888: 8882: 8881: 8845: 8839: 8832: 8826: 8819: 8813: 8798: 8792: 8791: 8761: 8736: 8735: 8727: 8721: 8720: 8708: 8702: 8701: 8699: 8697: 8682: 8668: 8659: 8658: 8618: 8612: 8611: 8603: 8594: 8590: 8588: 8586: 8580: 8565: 8555: 8553: 8551: 8545: 8518: 8508: 8506: 8504: 8498: 8475: 8465: 8463: 8461: 8438: 8432: 8431: 8413: 8389: 8383: 8382: 8380: 8378: 8359: 8353: 8352: 8350: 8348: 8328: 8322: 8321: 8316:. Archived from 8305: 8299: 8298: 8278: 8272: 8267: 8261: 8260: 8258: 8256: 8241: 8235: 8234: 8216: 8210: 8209: 8207: 8192: 8184: 8178: 8171: 8165: 8164: 8132: 8126: 8125: 8119: 8117: 8088: 8036: 8035: 8024: 8023: 8022: 8015: 7935: 7931: 7859: 7858: 7851: 7830: 7829: 7828: 7812: 7811: 7810: 7794: 7793: 7792: 7776: 7775: 7774: 7758: 7757: 7756: 7740: 7739: 7738: 7722: 7721: 7720: 7704: 7703: 7702: 7686: 7685: 7684: 7668: 7667: 7666: 7650: 7649: 7648: 7632: 7631: 7630: 7614: 7613: 7612: 7596: 7595: 7594: 7578: 7577: 7576: 7560: 7559: 7558: 7542: 7541: 7540: 7524: 7523: 7522: 7506: 7505: 7504: 7488: 7487: 7486: 7470: 7469: 7468: 7452: 7451: 7450: 7434: 7433: 7432: 7416: 7415: 7414: 7398: 7397: 7396: 7380: 7379: 7378: 7362: 7361: 7360: 7344: 7343: 7342: 7326: 7325: 7324: 7308: 7307: 7306: 7290: 7289: 7288: 7272: 7271: 7270: 7254: 7253: 7252: 7236: 7235: 7234: 7218: 7217: 7216: 7200: 7199: 7198: 7182: 7181: 7180: 7164: 7163: 7162: 7146: 7145: 7144: 7128: 7127: 7126: 7110: 7109: 7108: 7092: 7091: 7090: 7074: 7073: 7072: 7056: 7055: 7054: 7038: 7037: 7036: 7020: 7019: 7018: 7002: 7001: 7000: 6984: 6983: 6982: 6966: 6965: 6964: 6948: 6947: 6946: 6930: 6929: 6928: 6912: 6911: 6910: 6894: 6893: 6892: 6876: 6875: 6874: 6858: 6857: 6856: 6840: 6839: 6838: 6822: 6821: 6820: 6804: 6803: 6802: 6786: 6785: 6784: 6768: 6767: 6766: 6753:Papua New Guinea 6750: 6749: 6748: 6732: 6731: 6730: 6714: 6713: 6712: 6696: 6695: 6694: 6678: 6677: 6676: 6660: 6659: 6658: 6642: 6641: 6640: 6624: 6623: 6622: 6606: 6605: 6604: 6588: 6587: 6586: 6570: 6569: 6568: 6552: 6551: 6550: 6534: 6533: 6532: 6516: 6515: 6514: 6498: 6497: 6496: 6480: 6479: 6478: 6462: 6461: 6460: 6444: 6443: 6442: 6426: 6425: 6424: 6408: 6407: 6406: 6390: 6389: 6388: 6372: 6371: 6370: 6354: 6353: 6352: 6336: 6335: 6334: 6318: 6317: 6316: 6300: 6299: 6298: 6282: 6281: 6280: 6264: 6263: 6262: 6246: 6245: 6244: 6228: 6227: 6226: 6210: 6209: 6208: 6192: 6191: 6190: 6174: 6173: 6172: 6156: 6155: 6154: 6138: 6137: 6136: 6120: 6119: 6118: 6102: 6101: 6100: 6084: 6083: 6082: 6066: 6065: 6064: 6048: 6047: 6046: 6030: 6029: 6028: 6012: 6011: 6010: 5994: 5993: 5992: 5976: 5975: 5974: 5958: 5957: 5956: 5940: 5939: 5938: 5922: 5921: 5920: 5904: 5903: 5902: 5886: 5885: 5884: 5868: 5867: 5866: 5850: 5849: 5848: 5832: 5831: 5830: 5814: 5813: 5812: 5796: 5795: 5794: 5778: 5777: 5776: 5760: 5759: 5758: 5742: 5741: 5740: 5724: 5723: 5722: 5706: 5705: 5704: 5688: 5687: 5686: 5670: 5669: 5668: 5652: 5651: 5650: 5634: 5633: 5632: 5616: 5615: 5614: 5598: 5597: 5596: 5580: 5579: 5578: 5562: 5561: 5560: 5544: 5543: 5542: 5526: 5525: 5524: 5508: 5507: 5506: 5490: 5489: 5488: 5472: 5471: 5470: 5454: 5453: 5452: 5436: 5435: 5434: 5418: 5417: 5416: 5400: 5399: 5398: 5382: 5381: 5380: 5364: 5363: 5362: 5346: 5345: 5344: 5328: 5327: 5326: 5310: 5309: 5308: 5292: 5291: 5290: 5274: 5273: 5272: 5256: 5255: 5254: 5238: 5237: 5236: 5220: 5219: 5218: 5202: 5201: 5200: 5184: 5183: 5182: 5166: 5165: 5164: 5148: 5147: 5146: 5130: 5129: 5128: 5112: 5111: 5110: 5094: 5093: 5092: 5076: 5075: 5074: 5058: 5057: 5056: 5040: 5039: 5038: 5022: 5021: 5020: 5004: 5003: 5002: 4986: 4985: 4984: 4968: 4967: 4966: 4950: 4949: 4948: 4932: 4931: 4930: 4914: 4913: 4912: 4896: 4895: 4894: 4878: 4877: 4876: 4860: 4859: 4858: 4842: 4841: 4840: 4824: 4823: 4822: 4806: 4805: 4804: 4788: 4787: 4786: 4770: 4769: 4768: 4752: 4751: 4750: 4734: 4733: 4732: 4716: 4715: 4714: 4698: 4697: 4696: 4680: 4679: 4678: 4662: 4661: 4660: 4644: 4643: 4642: 4626: 4625: 4624: 4608: 4607: 4606: 4590: 4589: 4588: 4572: 4571: 4570: 4554: 4553: 4552: 4536: 4535: 4534: 4518: 4517: 4516: 4501: 4500: 4373: 4372: 4262: 4255: 4248: 4201:Economic capital 4168:Operational risk 3950: 3948:Basel Framework 3945: 3944: 3923:helicopter money 3904:forward guidance 3894:. These include 3710:banking industry 3700:government bonds 3692:foreign-exchange 3660:Monetary policy: 3616:carbon-intensive 3596:financial system 3059:Banque de France 3033:Washington, D.C. 2972:established the 2970:King Charles III 2947:liquidity crisis 2927:William Paterson 2908:Stockholms Banco 2873:in 1609 and the 2829:Interior of the 2757:ancient Egyptian 2747:History of money 2657:(est. 1957), or 2656: 2655: 2436:Wiener Stadtbank 2382:Stockholms Banco 2285:money laundering 2269:commercial banks 2221: 2214: 2207: 2191: 2190: 2181:Money portal 2179: 2178: 2177: 2091:William Nordhaus 2076:Robert Lucas Jr. 1966:François Quesnay 1602:Nominal rigidity 1573:Demand for money 1551:Microfoundations 1487:Financial crisis 1467:Effective demand 1437:Aggregate supply 1432:Aggregate demand 1419: 1396: 1395: 1386: 1379: 1372: 1356: 1346: 1345: 1336: 1335: 1266:Personal finance 1199:Equity (finance) 1062:Impact investing 1052:Growth investing 960:Enterprise value 867: 866: 678: 677: 633:Savings and loan 485: 463: 462: 453: 446: 439: 423: 275:Gains from trade 265:Balance of trade 144:Finance ministry 35: 21: 20: 14815: 14814: 14810: 14809: 14808: 14806: 14805: 14804: 14780: 14779: 14778: 14773: 14710: 14661:Alberto Musalem 14651:Austan Goolsbee 14583: 14577: 14558:Michelle Bowman 14519: 14512: 14471:Arthur F. Burns 14447:Eugene R. Black 14403: 14101: 14093: 14060:Discount window 14048: 14022: 14018: 14013: 13990: 13957: 13952: 13922: 13917: 13914:Business portal 13881: 13880: 13879: 13839: 13603:von Böhm-Bawerk 13491: 13490: 13481: 13253:Ancient thought 13231: 13230: 13224: 13215: 13214: 13213: 12964: 12929: 12881:Contract theory 12866:Decision theory 12847: 12842: 12812: 12807: 12759:Unit of account 12698: 12631: 12617:Promissory note 12595:Deposit account 12568:Cheque clearing 12522: 12514: 12507: 12502: 12500: 12490: 12467: 12432: 12400:Precious metals 12367: 12360: 12355: 12325: 12320: 12279: 12234: 12227: 12198:Capital control 12186: 12155: 12129: 12124: 12094: 12089: 12071: 12009: 12003: 11989:Solomon Islands 11952: 11853: 11847: 11773:Northern Cyprus 11767:North Macedonia 11581: 11337: 11109: 11106: 11071: 11065: 11058: 11052: 11047:Federal Reserve 11027: 11010: 11008:Further reading 11005: 10995: 10993: 10980: 10979: 10975: 10969:Wayback Machine 10960: 10956: 10946: 10944: 10931: 10930: 10926: 10916: 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5502: 5486: 5484: 5468: 5466: 5450: 5448: 5432: 5430: 5414: 5412: 5396: 5394: 5378: 5376: 5360: 5358: 5342: 5340: 5324: 5322: 5306: 5304: 5288: 5286: 5270: 5268: 5252: 5250: 5234: 5232: 5216: 5214: 5198: 5196: 5180: 5178: 5162: 5160: 5144: 5142: 5126: 5124: 5108: 5106: 5090: 5088: 5072: 5070: 5054: 5052: 5036: 5034: 5018: 5016: 5000: 4998: 4982: 4980: 4964: 4962: 4946: 4944: 4928: 4926: 4910: 4908: 4892: 4890: 4874: 4872: 4856: 4854: 4838: 4836: 4820: 4818: 4802: 4800: 4784: 4782: 4766: 4764: 4748: 4746: 4730: 4728: 4712: 4710: 4694: 4692: 4676: 4674: 4658: 4656: 4640: 4638: 4622: 4620: 4604: 4602: 4586: 4584: 4568: 4566: 4550: 4548: 4532: 4530: 4514: 4512: 4495: 4356: 4341: 4333: 4266: 4042:Risk management 4029:Monetary policy 3949: 3943: 3931: 3888: 3865:Federal Reserve 3829: 3813:Federal Reserve 3778:promissory note 3754: 3746:monetary policy 3742: 3740:Monetary policy 3736: 3734:Monetary policy 3727:Other functions 3716:Payments system 3653: 3647: 3594:throughout the 3592:cascade effects 3588:stranded assets 3553: 3537: 3535:Economic growth 3489: 3487:High employment 3461: 3459:Price stability 3456: 3405:Austria-Hungary 3385: 3369:Federal Reserve 3257: 3227:Bank of Estonia 3159:currency boards 3117:Bank of England 3064:Bank of Finland 3029:Eccles Building 3014:Bank of Finland 3006: 2921:was devised by 2919:Bank of England 2892:Bank of England 2884: 2867:Banco di Napoli 2823: 2807:Southern Europe 2749: 2743: 2731: 2721: 2694:Bank of Ireland 2678:Banco do Brasil 2549:Federal Reserve 2480:Bank of England 2432:Bank of England 2428:Bank of Hamburg 2419: 2409:(est. 1401) or 2403:commodity money 2394:Bank of England 2355:Benjamin Strong 2324: 2257:commercial bank 2253:monetary policy 2225: 2185: 2175: 2173: 2166: 2165: 2124: 2116: 2115: 2096:Joseph Stiglitz 2056:Milton Friedman 2036:Friedrich Hayek 1961: 1951: 1950: 1833: 1823: 1822: 1793: 1785: 1784: 1770:Mundell–Fleming 1765:Matching theory 1703:Keynesian cross 1688: 1680: 1679: 1650: 1642: 1641: 1427: 1390: 1325: 1324: 1306:Too big to fail 1291:Systematic risk 1204:Ethical banking 1194:Cost of capital 1169: 1161: 1160: 1107:Private banking 1077:Islamic banking 1057:Hedge (finance) 980:Ethical banking 950:Economic bubble 925:Climate finance 900:Bank regulation 864: 856: 855: 814:Instant payment 760: 752: 751: 675: 658: 657: 493: 457: 412: 411: 407:Monetary reform 397: 389: 388: 384:Price stability 379:Economic growth 374:Balanced budget 369: 361: 360: 341:Non-tax revenue 336: 335: 315: 314: 305:Trade diversion 260: 250: 249: 203:Discount window 186: 184:Monetary policy 176: 175: 110: 100: 99: 45: 17: 12: 11: 5: 14813: 14803: 14802: 14797: 14792: 14775: 14774: 14772: 14771: 14766: 14761: 14760: 14759: 14749: 14744: 14739: 14734: 14729: 14724: 14718: 14716: 14712: 14711: 14709: 14708: 14698: 14688: 14678: 14668: 14658: 14648: 14641:Raphael Bostic 14638: 14628: 14618: 14608: 14598: 14587: 14585: 14579: 14578: 14576: 14575: 14573:Adriana Kugler 14570: 14565: 14560: 14555: 14545: 14535: 14524: 14522: 14514: 14513: 14511: 14510: 14509:(2018–present) 14504: 14498: 14492: 14489:Alan Greenspan 14486: 14480: 14474: 14468: 14462: 14456: 14450: 14444: 14438: 14432: 14426: 14420: 14413: 14411: 14405: 14404: 14402: 14401: 14393: 14387: 14380:Dodd–Frank Act 14377: 14371: 14365: 14360: 14352: 14346: 14340: 14334: 14328: 14322: 14316: 14310: 14304: 14298: 14292: 14284: 14276: 14270: 14264: 14258: 14252: 14246: 14240: 14234: 14228: 14222: 14216: 14210: 14209:(1961–present) 14204: 14198: 14192: 14187: 14181: 14176: 14170: 14164: 14158: 14152: 14146: 14140: 14134: 14128: 14122: 14116: 14109: 14107: 14095: 14094: 14092: 14091: 14089:Primary dealer 14086: 14085: 14084: 14082:Overnight rate 14074: 14069: 14068: 14067: 14056: 14054: 14050: 14049: 14047: 14046: 14041: 14036: 14030: 14028: 14024: 14023: 14016: 14014: 14012: 14011: 14006: 14000: 13998: 13992: 13991: 13989: 13988: 13983: 13978: 13973: 13968: 13962: 13959: 13958: 13951: 13950: 13943: 13936: 13928: 13919: 13918: 13916: 13911: 13906: 13901: 13896: 13891: 13886: 13883: 13882: 13878: 13877: 13872: 13862: 13857: 13851: 13850: 13849: 13847: 13841: 13840: 13838: 13837: 13830: 13825: 13820: 13815: 13810: 13805: 13800: 13795: 13790: 13785: 13780: 13775: 13770: 13765: 13760: 13755: 13750: 13745: 13740: 13735: 13730: 13725: 13720: 13715: 13710: 13705: 13700: 13695: 13690: 13685: 13680: 13675: 13670: 13665: 13660: 13655: 13650: 13645: 13640: 13635: 13630: 13625: 13620: 13615: 13610: 13605: 13600: 13595: 13590: 13585: 13580: 13575: 13570: 13565: 13560: 13555: 13550: 13545: 13540: 13535: 13530: 13525: 13520: 13515: 13510: 13505: 13500: 13494: 13492: 13486: 13483: 13482: 13480: 13479: 13474: 13469: 13464: 13459: 13454: 13449: 13448: 13447: 13437: 13436: 13435: 13425: 13420: 13415: 13414: 13413: 13403: 13398: 13393: 13392: 13391: 13390: 13389: 13379: 13374: 13359: 13354: 13349: 13344: 13339: 13334: 13329: 13324: 13319: 13317:Disequilibrium 13314: 13309: 13304: 13299: 13294: 13293: 13292: 13282: 13277: 13272: 13267: 13266: 13265: 13255: 13250: 13245: 13240: 13234: 13232: 13220: 13217: 13216: 13212: 13211: 13206: 13201: 13196: 13191: 13186: 13181: 13176: 13171: 13166: 13157: 13152: 13147: 13142: 13137: 13132: 13130:Organizational 13127: 13122: 13117: 13112: 13107: 13102: 13097: 13092: 13087: 13082: 13077: 13072: 13067: 13062: 13057: 13052: 13047: 13042: 13037: 13032: 13027: 13022: 13017: 13012: 13007: 13002: 12997: 12992: 12987: 12982: 12976: 12975: 12974: 12972: 12966: 12965: 12963: 12962: 12957: 12952: 12951: 12950: 12939: 12937: 12931: 12930: 12928: 12927: 12922: 12917: 12916: 12915: 12905: 12900: 12895: 12893:Macroeconomics 12890: 12889: 12888: 12883: 12878: 12873: 12868: 12861:Microeconomics 12857: 12855: 12849: 12848: 12841: 12840: 12833: 12826: 12818: 12809: 12808: 12806: 12805: 12804: 12803: 12798: 12793: 12786:Local currency 12783: 12782: 12781: 12776: 12771: 12769:Cryptocurrency 12761: 12756: 12754:Store of value 12751: 12746: 12745: 12744: 12739: 12729: 12728: 12727: 12717: 12712: 12709:§100; §122–125 12702: 12699: 2150 BC 12689: 12684: 12683: 12682: 12672: 12667: 12662: 12657: 12656: 12655: 12645: 12639: 12637: 12633: 12632: 12630: 12629: 12624: 12619: 12614: 12609: 12604: 12599: 12598: 12597: 12587: 12582: 12577: 12572: 12571: 12570: 12560: 12555: 12550: 12545: 12540: 12534: 12532: 12516: 12515: 12513: 12512: 12497: 12495: 12492: 12491: 12489: 12488: 12483: 12477: 12475: 12469: 12468: 12466: 12465: 12464:(Tibet, China) 12459: 12453: 12447: 12440: 12438: 12431: 12430: 12425: 12420: 12414: 12408: 12407:(cotton cloth) 12402: 12397: 12391: 12385: 12379: 12372: 12370: 12362: 12361: 12354: 12353: 12346: 12339: 12331: 12322: 12321: 12319: 12318: 12313: 12308: 12303: 12298: 12293: 12287: 12285: 12281: 12280: 12278: 12277: 12276: 12275: 12270: 12265: 12260: 12255: 12245: 12239: 12237: 12229: 12228: 12226: 12225: 12220: 12215: 12213:Money creation 12210: 12208:Interest rates 12205: 12200: 12194: 12192: 12191:Implementation 12188: 12187: 12185: 12184: 12179: 12174: 12169: 12163: 12161: 12157: 12156: 12154: 12153: 12148: 12143: 12137: 12135: 12131: 12130: 12123: 12122: 12115: 12108: 12100: 12091: 12090: 12076: 12073: 12072: 12070: 12069: 12064: 12059: 12054: 12049: 12044: 12039: 12034: 12029: 12024: 12019: 12013: 12011: 12005: 12004: 12002: 12001: 11996: 11991: 11986: 11981: 11976: 11971: 11966: 11960: 11958: 11954: 11953: 11951: 11950: 11945: 11940: 11935: 11930: 11925: 11920: 11915: 11910: 11905: 11902:Cayman Islands 11898: 11893: 11888: 11883: 11878: 11873: 11868: 11863: 11857: 11855: 11849: 11848: 11846: 11845: 11840: 11835: 11830: 11825: 11820: 11815: 11810: 11805: 11804: 11803: 11791: 11786: 11781: 11776: 11769: 11764: 11759: 11754: 11749: 11744: 11739: 11734: 11729: 11724: 11717: 11712: 11707: 11702: 11697: 11692: 11687: 11682: 11677: 11672: 11667: 11662: 11657: 11652: 11647: 11642: 11637: 11632: 11627: 11622: 11617: 11612: 11607: 11602: 11595: 11589: 11587: 11583: 11582: 11580: 11579: 11574: 11569: 11564: 11559: 11554: 11549: 11544: 11539: 11532: 11527: 11522: 11517: 11512: 11507: 11502: 11495: 11490: 11485: 11480: 11475: 11470: 11465: 11460: 11453: 11448: 11443: 11438: 11433: 11428: 11423: 11418: 11413: 11408: 11403: 11398: 11396:Bank Indonesia 11393: 11388: 11381: 11376: 11371: 11366: 11361: 11356: 11351: 11345: 11343: 11339: 11338: 11336: 11335: 11330: 11325: 11320: 11315: 11310: 11305: 11300: 11295: 11288: 11283: 11278: 11273: 11268: 11263: 11258: 11253: 11248: 11243: 11238: 11233: 11228: 11223: 11218: 11213: 11208: 11203: 11198: 11193: 11188: 11183: 11178: 11173: 11168: 11163: 11158: 11153: 11148: 11143: 11138: 11133: 11128: 11123: 11117: 11115: 11111: 11110: 11105: 11104: 11097: 11090: 11082: 11076: 11075: 11050: 11040: 11033: 11026: 11025:External links 11023: 11022: 11021: 11009: 11006: 11004: 11003: 10973: 10954: 10924: 10898: 10868: 10837:(5): 849–868. 10814: 10753: 10727: 10695: 10664: 10633: 10614: 10584: 10565: 10546: 10527: 10519:John Goodman, 10512: 10485: 10455: 10436: 10406: 10385:(1): 217–237. 10365: 10311: 10292: 10263:(2): 425–457. 10243: 10213: 10179: 10164: 10133: 10103: 10088: 10062: 10034: 10008: 9982: 9939: 9912:(3): 317–334. 9892: 9885: 9855: 9808: 9770: 9763: 9755:10.2849/703620 9735: 9708:(6): 462–468. 9688: 9653:Climate Policy 9639: 9594:Climate Policy 9580: 9563:Positive Money 9550: 9520: 9489: 9475: 9449: 9419: 9401: 9382: 9369: 9352: 9333: 9327:Anna Gambles, 9320: 9294: 9281: 9257: 9244: 9218: 9207:. 30 July 2023 9205:19thcentury.us 9192: 9173: 9153: 9134: 9114: 9095: 9075: 9056: 9027: 9021:H. Roseveare, 9014: 8991: 8972: 8952: 8933: 8920: 8907: 8883: 8868: 8840: 8827: 8814: 8793: 8786: 8737: 8722: 8703: 8689: 8660: 8633:(4): 381–391. 8613: 8595: 8592: 8591: 8556: 8509: 8484:(3): 468–492. 8466: 8440: 8433: 8384: 8354: 8323: 8300: 8293: 8273: 8262: 8236: 8230:978-0415459228 8229: 8211: 8179: 8166: 8147:(4): 483–500. 8127: 8104: 8082: 8080: 8077: 8075: 8074: 8069: 8064: 8059: 8054: 8049: 8043: 8041: 8040: 8028: 8007: 8004: 8001: 8000: 7997: 7994: 7990: 7989: 7986: 7983: 7979: 7978: 7975: 7972: 7968: 7967: 7964: 7963:Bank of Japan 7961: 7957: 7956: 7953: 7950: 7946: 7945: 7942: 7939: 7927:Bloomberg News 7879: 7875: 7874: 7863: 7861: 7854: 7849: 7848: 7847: 7845: 7842: 7839: 7838: 7835: 7821: 7820: 7817: 7803: 7802: 7799: 7785: 7784: 7781: 7767: 7766: 7763: 7749: 7748: 7745: 7731: 7730: 7727: 7713: 7712: 7709: 7695: 7694: 7691: 7677: 7676: 7673: 7671:United Kingdom 7659: 7658: 7655: 7641: 7640: 7637: 7623: 7622: 7619: 7605: 7604: 7601: 7587: 7586: 7583: 7569: 7568: 7565: 7551: 7550: 7547: 7533: 7532: 7529: 7515: 7514: 7511: 7497: 7496: 7493: 7479: 7478: 7475: 7461: 7460: 7457: 7443: 7442: 7439: 7425: 7424: 7421: 7407: 7406: 7403: 7389: 7388: 7385: 7371: 7370: 7367: 7353: 7352: 7349: 7335: 7334: 7331: 7317: 7316: 7313: 7299: 7298: 7295: 7281: 7280: 7277: 7263: 7262: 7259: 7245: 7244: 7241: 7227: 7226: 7223: 7209: 7208: 7205: 7191: 7190: 7187: 7173: 7172: 7169: 7155: 7154: 7151: 7137: 7136: 7133: 7119: 7118: 7115: 7101: 7100: 7097: 7083: 7082: 7079: 7065: 7064: 7061: 7047: 7046: 7043: 7029: 7028: 7025: 7011: 7010: 7007: 6993: 6992: 6989: 6975: 6974: 6971: 6957: 6956: 6953: 6939: 6938: 6935: 6921: 6920: 6917: 6903: 6902: 6899: 6885: 6884: 6881: 6867: 6866: 6863: 6849: 6848: 6845: 6831: 6830: 6827: 6813: 6812: 6809: 6795: 6794: 6791: 6777: 6776: 6773: 6759: 6758: 6755: 6741: 6740: 6737: 6723: 6722: 6719: 6705: 6704: 6701: 6687: 6686: 6683: 6669: 6668: 6665: 6651: 6650: 6647: 6633: 6632: 6629: 6615: 6614: 6611: 6597: 6596: 6593: 6579: 6578: 6575: 6561: 6560: 6557: 6543: 6542: 6539: 6525: 6524: 6521: 6507: 6506: 6503: 6489: 6488: 6485: 6471: 6470: 6467: 6453: 6452: 6449: 6435: 6434: 6431: 6417: 6416: 6413: 6399: 6398: 6395: 6381: 6380: 6377: 6363: 6362: 6359: 6345: 6344: 6341: 6327: 6326: 6323: 6309: 6308: 6305: 6291: 6290: 6287: 6273: 6272: 6269: 6255: 6254: 6251: 6237: 6236: 6233: 6219: 6218: 6215: 6201: 6200: 6197: 6183: 6182: 6179: 6165: 6164: 6161: 6147: 6146: 6143: 6129: 6128: 6125: 6111: 6110: 6107: 6093: 6092: 6089: 6075: 6074: 6071: 6057: 6056: 6053: 6039: 6038: 6035: 6021: 6020: 6017: 6003: 6002: 5999: 5985: 5984: 5981: 5967: 5966: 5963: 5949: 5948: 5945: 5931: 5930: 5927: 5913: 5912: 5909: 5895: 5894: 5891: 5877: 5876: 5873: 5859: 5858: 5855: 5841: 5840: 5837: 5823: 5822: 5819: 5805: 5804: 5801: 5787: 5786: 5783: 5769: 5768: 5765: 5751: 5750: 5747: 5733: 5732: 5729: 5715: 5714: 5711: 5697: 5696: 5693: 5679: 5678: 5675: 5661: 5660: 5657: 5643: 5642: 5639: 5625: 5624: 5621: 5607: 5606: 5603: 5589: 5588: 5585: 5571: 5570: 5567: 5553: 5552: 5549: 5535: 5534: 5531: 5517: 5516: 5513: 5499: 5498: 5495: 5481: 5480: 5477: 5463: 5462: 5459: 5445: 5444: 5441: 5427: 5426: 5423: 5409: 5408: 5405: 5391: 5390: 5387: 5373: 5372: 5369: 5355: 5354: 5351: 5337: 5336: 5333: 5319: 5318: 5315: 5301: 5300: 5297: 5295:Czech Republic 5283: 5282: 5279: 5265: 5264: 5261: 5247: 5246: 5243: 5229: 5228: 5225: 5211: 5210: 5207: 5193: 5192: 5189: 5175: 5174: 5171: 5157: 5156: 5153: 5139: 5138: 5135: 5121: 5120: 5117: 5103: 5102: 5099: 5085: 5084: 5081: 5067: 5066: 5063: 5049: 5048: 5045: 5031: 5030: 5027: 5013: 5012: 5009: 4995: 4994: 4991: 4977: 4976: 4973: 4959: 4958: 4955: 4941: 4940: 4937: 4923: 4922: 4919: 4905: 4904: 4901: 4887: 4886: 4883: 4869: 4868: 4865: 4851: 4850: 4847: 4833: 4832: 4829: 4815: 4814: 4811: 4797: 4796: 4793: 4779: 4778: 4775: 4761: 4760: 4757: 4743: 4742: 4739: 4725: 4724: 4721: 4707: 4706: 4703: 4689: 4688: 4685: 4671: 4670: 4667: 4653: 4652: 4649: 4635: 4634: 4631: 4617: 4616: 4613: 4599: 4598: 4595: 4581: 4580: 4577: 4563: 4562: 4559: 4545: 4544: 4541: 4527: 4526: 4523: 4509: 4508: 4505: 4494: 4491: 4477:(BIS) and the 4455: 4454: 4444: 4438: 4428: 4421: 4411: 4385:U.S. president 4340: 4337: 4332: 4329: 4325:credit culture 4282:balance sheets 4268: 4267: 4265: 4264: 4257: 4250: 4242: 4239: 4238: 4232: 4231: 4230: 4229: 4221: 4220: 4216: 4215: 4214: 4213: 4208: 4206:Liquidity risk 4203: 4195: 4194: 4190: 4189: 4188: 4187: 4186: 4185: 4180: 4175: 4165: 4164: 4163: 4158: 4148: 4147: 4146: 4141: 4131: 4130: 4129: 4124: 4123: 4122: 4119: 4109: 4108: 4107: 4102: 4092: 4082: 4081: 4080: 4075: 4070: 4068:Leverage ratio 4065: 4052: 4051: 4047: 4046: 4045: 4044: 4035: 4026: 4014: 4013: 4009: 4008: 4007: 4006: 4005: 4004: 4003: 4002: 3997: 3992: 3987: 3977: 3972: 3962: 3954: 3953: 3942: 3939: 3930: 3927: 3916:Bank of Canada 3887: 3884: 3828: 3825: 3774:currency union 3770:currency board 3753: 3750: 3738:Main article: 3735: 3732: 3731: 3730: 3724: 3719: 3713: 3703: 3685: 3671: 3651:Currency board 3646: 3643: 3610:transparency, 3605:Achieving the 3552: 3551:Climate change 3549: 3536: 3533: 3532: 3531: 3530: 3529: 3488: 3485: 3460: 3457: 3455: 3452: 3440:European Union 3417:monetary union 3409:Ottoman Empire 3384: 3381: 3288:(est. 1865 in 3280:(est. 1851 in 3272:(est. 1828 in 3256: 3253: 3219:Bank of Greece 3215:Bank of Danzig 3195:Montagu Norman 3168:Andrew Jackson 3126:Walter Bagehot 3087:Henry Thornton 3005: 3002: 2883: 2880: 2875:Hamburger Bank 2855:Banco del Giro 2835:Taula de canvi 2822: 2819: 2796:hyperinflation 2780:paper currency 2745:Main article: 2742: 2739: 2720: 2717: 2690:Bank of Cyprus 2639: 2638: 2611: 2576: 2545: 2518: 2495: 2492:United Kingdom 2472:Bank of Canada 2468:Bank of Mexico 2448:Bank of France 2418: 2415: 2351:Montagu Norman 2349:respectively, 2343:United Kingdom 2331:Walter Bagehot 2323: 2320: 2227: 2226: 2224: 2223: 2216: 2209: 2201: 2198: 2197: 2196: 2195: 2183: 2168: 2167: 2164: 2163: 2158: 2153: 2151:Microeconomics 2148: 2147: 2146: 2136: 2131: 2125: 2122: 2121: 2118: 2117: 2114: 2113: 2108: 2103: 2098: 2093: 2088: 2083: 2078: 2073: 2068: 2066:Lawrence Klein 2063: 2061:Paul Samuelson 2058: 2053: 2048: 2043: 2038: 2033: 2028: 2023: 2018: 2016:Michał Kalecki 2013: 2008: 2003: 1998: 1993: 1988: 1983: 1978: 1973: 1968: 1962: 1957: 1956: 1953: 1952: 1949: 1948: 1943: 1938: 1936:Disequilibrium 1933: 1932: 1931: 1924:Post-Keynesian 1921: 1916: 1915: 1914: 1904: 1893: 1892: 1887: 1882: 1877: 1872: 1871: 1870: 1860: 1855: 1854: 1853: 1848: 1834: 1829: 1828: 1825: 1824: 1821: 1820: 1815: 1810: 1805: 1800: 1794: 1792:Related fields 1791: 1790: 1787: 1786: 1783: 1782: 1777: 1772: 1767: 1762: 1757: 1756: 1755: 1745: 1740: 1735: 1730: 1725: 1720: 1718:Phillips curve 1715: 1710: 1705: 1700: 1695: 1689: 1686: 1685: 1682: 1681: 1678: 1677: 1672: 1667: 1662: 1657: 1651: 1648: 1647: 1644: 1643: 1640: 1639: 1634: 1629: 1624: 1619: 1614: 1609: 1604: 1599: 1598: 1597: 1587: 1582: 1581: 1580: 1570: 1568:Money creation 1565: 1564: 1563: 1553: 1548: 1547: 1546: 1541: 1536: 1526: 1524:Liquidity trap 1521: 1516: 1511: 1510: 1509: 1504: 1494: 1489: 1484: 1483: 1482: 1477: 1469: 1464: 1459: 1454: 1449: 1444: 1442:Business cycle 1439: 1434: 1428: 1426:Basic concepts 1425: 1424: 1421: 1420: 1412: 1411: 1409:Macroeconomics 1405: 1404: 1392: 1391: 1389: 1388: 1381: 1374: 1366: 1363: 1362: 1361: 1360: 1350: 1340: 1327: 1326: 1323: 1322: 1319: 1318: 1313: 1308: 1303: 1298: 1293: 1288: 1283: 1278: 1273: 1271:Public finance 1268: 1263: 1258: 1253: 1248: 1247: 1246: 1241: 1236: 1231: 1226: 1216: 1211: 1206: 1201: 1196: 1191: 1186: 1181: 1179:Bond (finance) 1176: 1170: 1168:Related topics 1167: 1166: 1163: 1162: 1157: 1156: 1155: 1154: 1149: 1144: 1139: 1134: 1129: 1124: 1119: 1114: 1112:Sustainability 1109: 1104: 1099: 1097:Money creation 1094: 1092:Mobile banking 1089: 1084: 1079: 1074: 1069: 1064: 1059: 1054: 1049: 1044: 1039: 1034: 1033: 1032: 1027: 1022: 1017: 1012: 1007: 1002: 997: 992: 982: 977: 972: 967: 962: 957: 952: 947: 942: 937: 932: 927: 922: 917: 912: 907: 902: 897: 892: 887: 886: 885: 880: 865: 862: 861: 858: 857: 854: 853: 848: 843: 838: 833: 832: 831: 821: 816: 811: 806: 805: 804: 799: 789: 788: 787: 782: 772: 767: 761: 759:Funds transfer 758: 757: 754: 753: 748: 747: 746: 745: 740: 735: 730: 722: 721: 717: 716: 712: 711: 706: 701: 696: 691: 689:Christmas club 683: 682: 676: 664: 663: 660: 659: 654:Lists of banks 651: 650: 645: 640: 635: 630: 625: 620: 615: 610: 608:Postal savings 605: 600: 595: 590: 585: 583:Mutual savings 580: 575: 570: 565: 560: 555: 550: 545: 540: 535: 530: 525: 520: 515: 510: 505: 500: 494: 492:Types of banks 491: 490: 487: 486: 478: 477: 471: 470: 459: 458: 456: 455: 448: 441: 433: 430: 429: 428: 427: 414: 413: 410: 409: 404: 398: 395: 394: 391: 390: 387: 386: 381: 376: 370: 367: 366: 363: 362: 359: 358: 353: 348: 343: 337: 334: 333: 328: 322: 321: 320: 317: 316: 313: 312: 307: 302: 300:Trade creation 297: 292: 287: 282: 277: 272: 267: 261: 256: 255: 252: 251: 248: 247: 242: 237: 232: 231: 230: 228:currency board 225: 215: 210: 205: 200: 199: 198: 187: 182: 181: 178: 177: 174: 173: 168: 167: 166: 156: 151: 146: 141: 136: 135: 134: 124: 123: 122: 111: 106: 105: 102: 101: 98: 97: 92: 87: 82: 77: 72: 67: 62: 57: 52: 46: 41: 40: 37: 36: 28: 27: 25:Public finance 15: 9: 6: 4: 3: 2: 14812: 14801: 14800:Banking terms 14798: 14796: 14793: 14791: 14790:Central banks 14788: 14787: 14785: 14770: 14767: 14765: 14762: 14758: 14755: 14754: 14753: 14750: 14748: 14745: 14743: 14740: 14738: 14735: 14733: 14730: 14728: 14725: 14723: 14720: 14719: 14717: 14713: 14706: 14705:San Francisco 14702: 14699: 14696: 14692: 14689: 14686: 14682: 14679: 14676: 14672: 14671:Neel Kashkari 14669: 14666: 14662: 14659: 14656: 14652: 14649: 14646: 14642: 14639: 14636: 14632: 14631:Thomas Barkin 14629: 14626: 14622: 14619: 14616: 14612: 14609: 14606: 14602: 14601:John Williams 14599: 14596: 14592: 14591:Susan Collins 14589: 14588: 14586: 14584:(by district) 14580: 14574: 14571: 14569: 14566: 14564: 14561: 14559: 14556: 14553: 14549: 14546: 14543: 14539: 14536: 14533: 14529: 14528:Jerome Powell 14526: 14525: 14523: 14521: 14515: 14508: 14507:Jerome Powell 14505: 14502: 14499: 14496: 14493: 14490: 14487: 14484: 14481: 14478: 14475: 14472: 14469: 14466: 14463: 14460: 14457: 14454: 14451: 14448: 14445: 14442: 14439: 14436: 14433: 14430: 14427: 14424: 14421: 14418: 14415: 14414: 14412: 14410: 14406: 14399: 14398: 14394: 14391: 14388: 14385: 14381: 14378: 14375: 14372: 14369: 14366: 14364: 14361: 14358: 14357: 14353: 14350: 14347: 14344: 14341: 14338: 14335: 14332: 14329: 14326: 14323: 14320: 14317: 14314: 14311: 14308: 14305: 14302: 14299: 14296: 14295:Greenspan put 14293: 14290: 14289: 14285: 14282: 14281: 14277: 14274: 14271: 14268: 14265: 14262: 14259: 14256: 14253: 14250: 14247: 14244: 14241: 14238: 14235: 14232: 14229: 14226: 14223: 14220: 14217: 14214: 14211: 14208: 14205: 14202: 14199: 14196: 14193: 14191: 14188: 14185: 14182: 14180: 14177: 14174: 14171: 14168: 14165: 14162: 14159: 14156: 14153: 14150: 14147: 14144: 14141: 14138: 14135: 14132: 14129: 14126: 14123: 14120: 14117: 14114: 14111: 14110: 14108: 14105: 14100: 14096: 14090: 14087: 14083: 14080: 14079: 14078: 14075: 14073: 14072:Federal funds 14070: 14066: 14063: 14062: 14061: 14058: 14057: 14055: 14053:Federal funds 14051: 14045: 14042: 14040: 14037: 14035: 14032: 14031: 14029: 14025: 14010: 14007: 14005: 14002: 14001: 13999: 13997: 13993: 13987: 13984: 13982: 13979: 13977: 13974: 13972: 13969: 13967: 13964: 13963: 13960: 13956: 13949: 13944: 13942: 13937: 13935: 13930: 13929: 13926: 13915: 13912: 13910: 13907: 13905: 13902: 13900: 13897: 13895: 13892: 13890: 13887: 13884: 13876: 13873: 13870: 13866: 13863: 13861: 13858: 13856: 13853: 13852: 13848: 13846: 13842: 13836: 13835: 13831: 13829: 13826: 13824: 13821: 13819: 13816: 13814: 13811: 13809: 13806: 13804: 13801: 13799: 13796: 13794: 13791: 13789: 13786: 13784: 13781: 13779: 13776: 13774: 13771: 13769: 13766: 13764: 13761: 13759: 13756: 13754: 13751: 13749: 13746: 13744: 13741: 13739: 13736: 13734: 13731: 13729: 13726: 13724: 13721: 13719: 13716: 13714: 13711: 13709: 13706: 13704: 13701: 13699: 13696: 13694: 13691: 13689: 13686: 13684: 13681: 13679: 13676: 13674: 13671: 13669: 13666: 13664: 13661: 13659: 13656: 13654: 13651: 13649: 13646: 13644: 13641: 13639: 13636: 13634: 13631: 13629: 13626: 13624: 13621: 13619: 13616: 13614: 13611: 13609: 13606: 13604: 13601: 13599: 13596: 13594: 13591: 13589: 13586: 13584: 13581: 13579: 13576: 13574: 13571: 13569: 13566: 13564: 13561: 13559: 13556: 13554: 13551: 13549: 13546: 13544: 13541: 13539: 13536: 13534: 13531: 13529: 13526: 13524: 13521: 13519: 13516: 13514: 13511: 13509: 13506: 13504: 13501: 13499: 13498:de Mandeville 13496: 13495: 13493: 13489: 13484: 13478: 13475: 13473: 13470: 13468: 13465: 13463: 13460: 13458: 13455: 13453: 13450: 13446: 13443: 13442: 13441: 13440:New classical 13438: 13434: 13431: 13430: 13429: 13426: 13424: 13421: 13419: 13416: 13412: 13409: 13408: 13407: 13404: 13402: 13399: 13397: 13396:Malthusianism 13394: 13388: 13385: 13384: 13383: 13380: 13378: 13375: 13372: 13368: 13365: 13364: 13363: 13360: 13358: 13357:Institutional 13355: 13353: 13350: 13348: 13345: 13343: 13340: 13338: 13335: 13333: 13330: 13328: 13325: 13323: 13320: 13318: 13315: 13313: 13310: 13308: 13305: 13303: 13300: 13298: 13295: 13291: 13288: 13287: 13286: 13283: 13281: 13278: 13276: 13273: 13271: 13268: 13264: 13261: 13260: 13259: 13256: 13254: 13251: 13249: 13246: 13244: 13241: 13239: 13236: 13235: 13233: 13228: 13223: 13218: 13210: 13207: 13205: 13202: 13200: 13197: 13195: 13192: 13190: 13187: 13185: 13182: 13180: 13177: 13175: 13172: 13170: 13167: 13165: 13161: 13160:Public choice 13158: 13156: 13153: 13151: 13148: 13146: 13143: 13141: 13138: 13136: 13135:Participation 13133: 13131: 13128: 13126: 13123: 13121: 13118: 13116: 13113: 13111: 13108: 13106: 13103: 13101: 13098: 13096: 13095:Institutional 13093: 13091: 13088: 13086: 13083: 13081: 13078: 13076: 13073: 13071: 13068: 13066: 13063: 13061: 13058: 13056: 13053: 13051: 13048: 13046: 13045:Expeditionary 13043: 13041: 13038: 13036: 13035:Environmental 13033: 13031: 13028: 13026: 13023: 13021: 13018: 13016: 13013: 13011: 13008: 13006: 13003: 13001: 12998: 12996: 12993: 12991: 12988: 12986: 12983: 12981: 12978: 12977: 12973: 12971: 12967: 12961: 12958: 12956: 12953: 12949: 12946: 12945: 12944: 12941: 12940: 12938: 12936: 12932: 12926: 12923: 12921: 12918: 12914: 12911: 12910: 12909: 12906: 12904: 12901: 12899: 12896: 12894: 12891: 12887: 12884: 12882: 12879: 12877: 12874: 12872: 12869: 12867: 12864: 12863: 12862: 12859: 12858: 12856: 12854: 12850: 12846: 12839: 12834: 12832: 12827: 12825: 12820: 12819: 12816: 12802: 12799: 12797: 12794: 12792: 12789: 12788: 12787: 12784: 12780: 12777: 12775: 12772: 12770: 12767: 12766: 12765: 12762: 12760: 12757: 12755: 12752: 12750: 12747: 12743: 12740: 12738: 12735: 12734: 12733: 12730: 12726: 12723: 12722: 12721: 12718: 12716: 12713: 12711:; c. 1750 BC) 12710: 12706: 12703: 12693: 12690: 12688: 12685: 12681: 12678: 12677: 12676: 12673: 12671: 12668: 12666: 12663: 12661: 12658: 12654: 12651: 12650: 12649: 12646: 12644: 12641: 12640: 12638: 12634: 12628: 12625: 12623: 12620: 12618: 12615: 12613: 12610: 12608: 12605: 12603: 12600: 12596: 12593: 12592: 12591: 12588: 12586: 12583: 12581: 12578: 12576: 12573: 12569: 12566: 12565: 12564: 12561: 12559: 12556: 12554: 12551: 12549: 12546: 12544: 12541: 12539: 12536: 12535: 12533: 12530: 12526: 12521: 12517: 12510: 12499: 12487: 12484: 12482: 12479: 12478: 12476: 12474: 12470: 12463: 12460: 12457: 12454: 12451: 12448: 12445: 12444:Water buffalo 12442: 12441: 12439: 12435: 12429: 12426: 12424: 12421: 12418: 12415: 12413:(Roman world) 12412: 12409: 12406: 12403: 12401: 12398: 12395: 12392: 12389: 12386: 12384:(Mesoamerica) 12383: 12380: 12377: 12374: 12373: 12371: 12369: 12363: 12359: 12352: 12347: 12345: 12340: 12338: 12333: 12332: 12329: 12317: 12314: 12312: 12309: 12307: 12304: 12302: 12299: 12297: 12294: 12292: 12289: 12288: 12286: 12282: 12274: 12271: 12269: 12266: 12264: 12261: 12259: 12256: 12254: 12251: 12250: 12249: 12246: 12244: 12241: 12240: 12238: 12236: 12233:Bretton Woods 12230: 12224: 12221: 12219: 12216: 12214: 12211: 12209: 12206: 12204: 12203:Discount rate 12201: 12199: 12196: 12195: 12193: 12189: 12183: 12182:Basel Accords 12180: 12178: 12175: 12173: 12170: 12168: 12165: 12164: 12162: 12158: 12152: 12149: 12147: 12144: 12142: 12139: 12138: 12136: 12132: 12128: 12127:Central banks 12121: 12116: 12114: 12109: 12107: 12102: 12101: 12098: 12088: 12084: 12083:non-sovereign 12080: 12074: 12068: 12065: 12063: 12060: 12058: 12055: 12053: 12050: 12048: 12045: 12043: 12040: 12038: 12035: 12033: 12030: 12028: 12025: 12023: 12020: 12018: 12015: 12014: 12012: 12006: 12000: 11997: 11995: 11992: 11990: 11987: 11985: 11982: 11980: 11977: 11975: 11972: 11970: 11967: 11965: 11962: 11961: 11959: 11955: 11949: 11948:United States 11946: 11944: 11941: 11939: 11936: 11934: 11931: 11929: 11926: 11924: 11921: 11919: 11916: 11914: 11911: 11909: 11906: 11904: 11903: 11899: 11897: 11894: 11892: 11889: 11887: 11884: 11882: 11879: 11877: 11874: 11872: 11869: 11867: 11864: 11862: 11859: 11858: 11856: 11850: 11844: 11841: 11839: 11836: 11834: 11831: 11829: 11826: 11824: 11821: 11819: 11816: 11814: 11811: 11809: 11806: 11802: 11801: 11797: 11796: 11795: 11792: 11790: 11787: 11785: 11782: 11780: 11777: 11775: 11774: 11770: 11768: 11765: 11763: 11760: 11758: 11755: 11753: 11750: 11748: 11745: 11743: 11740: 11738: 11735: 11733: 11730: 11728: 11725: 11723: 11722: 11718: 11716: 11713: 11711: 11708: 11706: 11703: 11701: 11698: 11696: 11693: 11691: 11688: 11686: 11683: 11681: 11678: 11676: 11673: 11671: 11668: 11666: 11663: 11661: 11658: 11656: 11653: 11651: 11648: 11646: 11643: 11641: 11638: 11636: 11633: 11631: 11628: 11626: 11623: 11621: 11618: 11616: 11613: 11611: 11608: 11606: 11603: 11601: 11600: 11596: 11594: 11591: 11590: 11588: 11584: 11578: 11575: 11573: 11570: 11568: 11565: 11563: 11560: 11558: 11555: 11553: 11550: 11548: 11545: 11543: 11540: 11538: 11537: 11533: 11531: 11528: 11526: 11523: 11521: 11518: 11516: 11513: 11511: 11508: 11506: 11503: 11501: 11500: 11496: 11494: 11491: 11489: 11486: 11484: 11481: 11479: 11476: 11474: 11471: 11469: 11466: 11464: 11461: 11459: 11458: 11454: 11452: 11449: 11447: 11444: 11442: 11439: 11437: 11434: 11432: 11429: 11427: 11424: 11422: 11419: 11417: 11414: 11412: 11409: 11407: 11404: 11402: 11399: 11397: 11394: 11392: 11389: 11387: 11386: 11382: 11380: 11377: 11375: 11372: 11370: 11367: 11365: 11362: 11360: 11357: 11355: 11352: 11350: 11347: 11346: 11344: 11340: 11334: 11331: 11329: 11326: 11324: 11321: 11319: 11316: 11314: 11311: 11309: 11306: 11304: 11301: 11299: 11296: 11294: 11293: 11289: 11287: 11284: 11282: 11279: 11277: 11274: 11272: 11269: 11267: 11264: 11262: 11259: 11257: 11254: 11252: 11249: 11247: 11244: 11242: 11239: 11237: 11234: 11232: 11229: 11227: 11224: 11222: 11219: 11217: 11214: 11212: 11209: 11207: 11204: 11202: 11199: 11197: 11194: 11192: 11189: 11187: 11184: 11182: 11179: 11177: 11174: 11172: 11169: 11167: 11164: 11162: 11159: 11157: 11154: 11152: 11149: 11147: 11144: 11142: 11139: 11137: 11134: 11132: 11129: 11127: 11124: 11122: 11119: 11118: 11116: 11112: 11103: 11098: 11096: 11091: 11089: 11084: 11083: 11080: 11072:(176 KB) 11064: 11057: 11056: 11051: 11048: 11044: 11041: 11039: 11038: 11034: 11032: 11029: 11028: 11019: 11015: 11012: 11011: 10991: 10987: 10983: 10977: 10970: 10966: 10963: 10958: 10942: 10938: 10934: 10928: 10912: 10908: 10902: 10886: 10882: 10878: 10872: 10856: 10852: 10848: 10844: 10840: 10836: 10832: 10828: 10821: 10819: 10802: 10798: 10794: 10789: 10784: 10780: 10776: 10772: 10768: 10764: 10757: 10741: 10737: 10731: 10712: 10705: 10699: 10683: 10679: 10675: 10668: 10652: 10648: 10644: 10637: 10631: 10627: 10624: 10618: 10602: 10598: 10594: 10588: 10581: 10577: 10574: 10569: 10562: 10558: 10555: 10550: 10544: 10540: 10537: 10531: 10524: 10523: 10516: 10500: 10496: 10492: 10488: 10482: 10478: 10474: 10470: 10466: 10459: 10443: 10439: 10433: 10429: 10425: 10421: 10417: 10410: 10402: 10398: 10393: 10388: 10384: 10380: 10376: 10369: 10353: 10349: 10345: 10341: 10337: 10333: 10329: 10325: 10318: 10316: 10307: 10303: 10296: 10288: 10284: 10279: 10274: 10270: 10266: 10262: 10258: 10254: 10247: 10231: 10227: 10223: 10217: 10201: 10197: 10196: 10190: 10183: 10175: 10168: 10152: 10148: 10144: 10137: 10121: 10117: 10113: 10107: 10099: 10095: 10091: 10089:9783319562605 10085: 10081: 10077: 10073: 10066: 10051: 10050: 10045: 10038: 10023: 10019: 10012: 9997: 9993: 9986: 9978: 9974: 9970: 9966: 9962: 9958: 9954: 9950: 9943: 9935: 9931: 9927: 9923: 9919: 9915: 9911: 9907: 9903: 9896: 9888: 9882: 9878: 9874: 9870: 9866: 9859: 9851: 9847: 9843: 9839: 9835: 9831: 9827: 9823: 9819: 9812: 9804: 9800: 9796: 9792: 9788: 9784: 9780: 9774: 9766: 9760: 9756: 9752: 9748: 9747: 9739: 9731: 9727: 9723: 9719: 9715: 9711: 9707: 9703: 9699: 9692: 9684: 9680: 9676: 9672: 9667: 9662: 9658: 9654: 9650: 9643: 9627: 9623: 9619: 9615: 9611: 9607: 9603: 9599: 9595: 9591: 9584: 9568: 9564: 9560: 9554: 9538: 9534: 9530: 9524: 9508: 9504: 9500: 9493: 9485: 9479: 9463: 9459: 9453: 9437: 9433: 9429: 9423: 9416: 9412: 9409: 9405: 9397: 9393: 9386: 9379: 9373: 9366: 9356: 9349: 9345: 9340: 9338: 9330: 9324: 9308: 9304: 9298: 9291: 9285: 9278: 9274: 9271: 9267: 9261: 9254: 9248: 9232: 9228: 9222: 9206: 9202: 9196: 9180: 9176: 9174:9780674019393 9170: 9166: 9165: 9157: 9141: 9137: 9135:9781107149663 9131: 9127: 9126: 9118: 9102: 9098: 9096:9788120342378 9092: 9088: 9087: 9079: 9073: 9069: 9066: 9060: 9044: 9040: 9039: 9031: 9024: 9018: 9011: 8998: 8994: 8992:9780405112126 8988: 8984: 8983: 8976: 8969: 8965: 8962: 8956: 8950: 8946: 8943:Riksbank.com 8942: 8937: 8930: 8924: 8917: 8911: 8904: 8900: 8896: 8893: 8887: 8879: 8875: 8871: 8865: 8861: 8857: 8853: 8852: 8844: 8837: 8831: 8824: 8818: 8811: 8807: 8804: 8803: 8797: 8789: 8783: 8779: 8775: 8771: 8767: 8760: 8758: 8756: 8754: 8752: 8750: 8748: 8746: 8744: 8742: 8733: 8726: 8718: 8714: 8707: 8692: 8690:9780521496346 8686: 8681: 8680: 8674: 8667: 8665: 8656: 8652: 8648: 8644: 8640: 8636: 8632: 8628: 8624: 8617: 8609: 8602: 8600: 8577: 8573: 8569: 8562: 8557: 8542: 8538: 8534: 8530: 8526: 8522: 8515: 8510: 8495: 8491: 8487: 8483: 8479: 8472: 8467: 8455: 8451: 8447: 8442: 8441: 8437: 8429: 8425: 8421: 8417: 8412: 8407: 8403: 8399: 8395: 8388: 8372: 8368: 8364: 8358: 8342: 8338: 8334: 8327: 8319: 8315: 8311: 8304: 8296: 8290: 8286: 8285: 8277: 8271: 8266: 8250: 8246: 8240: 8232: 8226: 8222: 8215: 8204: 8200: 8196: 8189: 8183: 8176: 8170: 8162: 8158: 8154: 8150: 8146: 8142: 8138: 8131: 8124: 8111: 8107: 8105:9783319106175 8101: 8097: 8096: 8087: 8083: 8073: 8070: 8068: 8065: 8063: 8060: 8058: 8055: 8053: 8050: 8048: 8045: 8044: 8039: 8034: 8029: 8027: 8017: 8016: 8013: 7998: 7995: 7992: 7991: 7987: 7984: 7981: 7980: 7976: 7973: 7970: 7969: 7965: 7962: 7959: 7958: 7954: 7951: 7948: 7947: 7944:Total assets 7943: 7941:Central Bank 7940: 7937: 7936: 7930: 7928: 7924: 7920: 7916: 7912: 7908: 7904: 7900: 7896: 7891: 7888: 7871: 7870:MediaWiki.org 7867: 7862: 7853: 7852: 7836: 7834: 7823: 7822: 7818: 7816: 7805: 7804: 7800: 7798: 7787: 7786: 7782: 7780: 7769: 7768: 7764: 7762: 7751: 7750: 7746: 7744: 7733: 7732: 7728: 7726: 7715: 7714: 7710: 7708: 7697: 7696: 7692: 7690: 7679: 7678: 7674: 7672: 7661: 7660: 7656: 7654: 7643: 7642: 7638: 7636: 7625: 7624: 7620: 7618: 7607: 7606: 7602: 7600: 7589: 7588: 7584: 7582: 7571: 7570: 7566: 7564: 7553: 7552: 7548: 7546: 7535: 7534: 7530: 7528: 7517: 7516: 7512: 7510: 7499: 7498: 7494: 7492: 7481: 7480: 7476: 7474: 7463: 7462: 7458: 7456: 7445: 7444: 7440: 7438: 7427: 7426: 7422: 7420: 7409: 7408: 7404: 7402: 7391: 7390: 7386: 7384: 7373: 7372: 7368: 7366: 7355: 7354: 7350: 7348: 7337: 7336: 7332: 7330: 7319: 7318: 7314: 7312: 7301: 7300: 7296: 7294: 7283: 7282: 7278: 7276: 7265: 7264: 7260: 7258: 7247: 7246: 7242: 7240: 7229: 7228: 7224: 7222: 7211: 7210: 7206: 7204: 7193: 7192: 7188: 7186: 7175: 7174: 7170: 7168: 7157: 7156: 7152: 7150: 7139: 7138: 7134: 7132: 7121: 7120: 7116: 7114: 7103: 7102: 7098: 7096: 7085: 7084: 7080: 7078: 7067: 7066: 7062: 7060: 7049: 7048: 7044: 7042: 7031: 7030: 7026: 7024: 7013: 7012: 7008: 7006: 6995: 6994: 6990: 6988: 6977: 6976: 6972: 6970: 6959: 6958: 6954: 6952: 6941: 6940: 6936: 6934: 6923: 6922: 6918: 6916: 6905: 6904: 6900: 6898: 6887: 6886: 6882: 6880: 6869: 6868: 6864: 6862: 6851: 6850: 6846: 6844: 6833: 6832: 6828: 6826: 6815: 6814: 6810: 6808: 6797: 6796: 6792: 6790: 6779: 6778: 6774: 6772: 6761: 6760: 6756: 6754: 6743: 6742: 6738: 6736: 6725: 6724: 6720: 6718: 6707: 6706: 6702: 6700: 6689: 6688: 6684: 6682: 6671: 6670: 6666: 6664: 6653: 6652: 6648: 6646: 6635: 6634: 6630: 6628: 6617: 6616: 6612: 6610: 6599: 6598: 6594: 6592: 6581: 6580: 6576: 6574: 6563: 6562: 6558: 6556: 6545: 6544: 6540: 6538: 6527: 6526: 6522: 6520: 6509: 6508: 6504: 6502: 6491: 6490: 6486: 6484: 6473: 6472: 6468: 6466: 6455: 6454: 6450: 6448: 6437: 6436: 6432: 6430: 6419: 6418: 6414: 6412: 6401: 6400: 6396: 6394: 6383: 6382: 6378: 6376: 6365: 6364: 6360: 6358: 6347: 6346: 6342: 6340: 6329: 6328: 6324: 6322: 6311: 6310: 6306: 6304: 6293: 6292: 6288: 6286: 6275: 6274: 6270: 6268: 6257: 6256: 6252: 6250: 6239: 6238: 6234: 6232: 6221: 6220: 6216: 6214: 6203: 6202: 6198: 6196: 6185: 6184: 6180: 6178: 6167: 6166: 6162: 6160: 6149: 6148: 6144: 6142: 6131: 6130: 6126: 6124: 6113: 6112: 6108: 6106: 6095: 6094: 6090: 6088: 6077: 6076: 6072: 6070: 6059: 6058: 6054: 6052: 6041: 6040: 6036: 6034: 6023: 6022: 6018: 6016: 6005: 6004: 6000: 5998: 5987: 5986: 5982: 5980: 5969: 5968: 5964: 5962: 5951: 5950: 5946: 5944: 5933: 5932: 5928: 5926: 5915: 5914: 5910: 5908: 5897: 5896: 5892: 5890: 5879: 5878: 5874: 5872: 5861: 5860: 5856: 5854: 5843: 5842: 5838: 5836: 5825: 5824: 5820: 5818: 5807: 5806: 5802: 5800: 5789: 5788: 5784: 5782: 5771: 5770: 5766: 5764: 5753: 5752: 5748: 5746: 5735: 5734: 5730: 5728: 5727:Guinea-Bissau 5717: 5716: 5712: 5710: 5699: 5698: 5694: 5692: 5681: 5680: 5676: 5674: 5663: 5662: 5658: 5656: 5645: 5644: 5640: 5638: 5627: 5626: 5622: 5620: 5609: 5608: 5604: 5602: 5591: 5590: 5586: 5584: 5573: 5572: 5568: 5566: 5555: 5554: 5550: 5548: 5537: 5536: 5532: 5530: 5519: 5518: 5514: 5512: 5501: 5500: 5496: 5494: 5483: 5482: 5478: 5476: 5465: 5464: 5460: 5458: 5447: 5446: 5442: 5440: 5429: 5428: 5424: 5422: 5411: 5410: 5406: 5404: 5393: 5392: 5388: 5386: 5375: 5374: 5370: 5368: 5357: 5356: 5352: 5350: 5339: 5338: 5334: 5332: 5321: 5320: 5316: 5314: 5303: 5302: 5298: 5296: 5285: 5284: 5280: 5278: 5267: 5266: 5262: 5260: 5249: 5248: 5244: 5242: 5231: 5230: 5226: 5224: 5213: 5212: 5208: 5206: 5195: 5194: 5190: 5188: 5177: 5176: 5172: 5170: 5159: 5158: 5154: 5152: 5141: 5140: 5136: 5134: 5123: 5122: 5118: 5116: 5105: 5104: 5100: 5098: 5087: 5086: 5082: 5080: 5069: 5068: 5064: 5062: 5051: 5050: 5046: 5044: 5033: 5032: 5028: 5026: 5015: 5014: 5010: 5008: 4997: 4996: 4992: 4990: 4979: 4978: 4974: 4972: 4961: 4960: 4956: 4954: 4943: 4942: 4938: 4936: 4925: 4924: 4920: 4918: 4907: 4906: 4902: 4900: 4889: 4888: 4884: 4882: 4871: 4870: 4866: 4864: 4853: 4852: 4848: 4846: 4835: 4834: 4830: 4828: 4817: 4816: 4812: 4810: 4799: 4798: 4794: 4792: 4781: 4780: 4776: 4774: 4763: 4762: 4758: 4756: 4745: 4744: 4740: 4738: 4727: 4726: 4722: 4720: 4709: 4708: 4704: 4702: 4691: 4690: 4686: 4684: 4673: 4672: 4668: 4666: 4655: 4654: 4650: 4648: 4637: 4636: 4632: 4630: 4619: 4618: 4614: 4612: 4601: 4600: 4596: 4594: 4583: 4582: 4578: 4576: 4565: 4564: 4560: 4558: 4547: 4546: 4542: 4540: 4529: 4528: 4524: 4522: 4511: 4510: 4506: 4503: 4502: 4499: 4490: 4488: 4484: 4480: 4476: 4472: 4467: 4465: 4461: 4452: 4448: 4445: 4442: 4439: 4436: 4432: 4429: 4425: 4422: 4419: 4415: 4412: 4408: 4405: 4404: 4403: 4400: 4396: 4394: 4390: 4386: 4380: 4376: 4371: 4364: 4362: 4355: 4345: 4336: 4328: 4326: 4322: 4318: 4313: 4311: 4307: 4303: 4299: 4295: 4291: 4286: 4283: 4279: 4275: 4263: 4258: 4256: 4251: 4249: 4244: 4243: 4241: 4240: 4237: 4234: 4233: 4228: 4225: 4224: 4223: 4222: 4218: 4217: 4212: 4209: 4207: 4204: 4202: 4199: 4198: 4197: 4196: 4192: 4191: 4184: 4181: 4179: 4176: 4174: 4171: 4170: 4169: 4166: 4162: 4159: 4157: 4154: 4153: 4152: 4149: 4145: 4142: 4140: 4137: 4136: 4135: 4132: 4128: 4125: 4120: 4118: 4115: 4114: 4113: 4110: 4106: 4103: 4101: 4098: 4097: 4096: 4093: 4091: 4088: 4087: 4086: 4083: 4079: 4076: 4074: 4071: 4069: 4066: 4064: 4063:Capital ratio 4061: 4060: 4059: 4056: 4055: 4054: 4053: 4049: 4048: 4043: 4039: 4036: 4034: 4030: 4027: 4025: 4021: 4018: 4017: 4016: 4015: 4011: 4010: 4001: 3998: 3996: 3993: 3991: 3988: 3986: 3983: 3982: 3981: 3978: 3976: 3973: 3971: 3968: 3967: 3966: 3965:Basel Accords 3963: 3961: 3958: 3957: 3956: 3955: 3947: 3946: 3938: 3936: 3926: 3924: 3919: 3917: 3913: 3909: 3905: 3901: 3897: 3896:credit easing 3893: 3883: 3881: 3876: 3874: 3870: 3866: 3862: 3861:United States 3857: 3853: 3852:discount rate 3849: 3845: 3840: 3838: 3833: 3824: 3822: 3818: 3814: 3810: 3805: 3802: 3798: 3794: 3790: 3785: 3783: 3779: 3775: 3771: 3767: 3763: 3759: 3758:fiat currency 3749: 3747: 3741: 3728: 3725: 3723: 3720: 3717: 3714: 3711: 3707: 3704: 3701: 3697: 3696:gold reserves 3693: 3689: 3686: 3683: 3679: 3675: 3672: 3669: 3665: 3664:interest rate 3661: 3658: 3657: 3656: 3652: 3642: 3640: 3634: 3631: 3627: 3625: 3622: 3617: 3613: 3608: 3607:2°C threshold 3603: 3601: 3597: 3593: 3589: 3584: 3581: 3580:Jens Weidmann 3575: 3573: 3568: 3566: 3562: 3558: 3548: 3544: 3542: 3527: 3526: 3521: 3518:employment.— 3516: 3515: 3514: 3513: 3512: 3510: 3506: 3501: 3498: 3493: 3484: 3480: 3477: 3473: 3468: 3466: 3451: 3449: 3445: 3441: 3437: 3432: 3430: 3426: 3422: 3418: 3414: 3410: 3406: 3398: 3394: 3389: 3380: 3378: 3374: 3370: 3366: 3360: 3358: 3354: 3350: 3346: 3342: 3338: 3334: 3330: 3326: 3322: 3318: 3313: 3311: 3307: 3304:(est. 1875), 3303: 3299: 3295: 3291: 3287: 3283: 3279: 3275: 3271: 3261: 3252: 3250: 3249:public sector 3246: 3242: 3238: 3234: 3232: 3228: 3224: 3220: 3216: 3212: 3208: 3204: 3200: 3196: 3192: 3189:(EFO) of the 3188: 3184: 3179: 3177: 3173: 3169: 3165: 3160: 3156: 3152: 3151:gold standard 3148: 3143: 3141: 3140:credit crunch 3137: 3133: 3132: 3127: 3123: 3118: 3114: 3110: 3104: 3102: 3101: 3096: 3095:Knut Wicksell 3092: 3088: 3083: 3081: 3077: 3073: 3069: 3065: 3060: 3053: 3049: 3044: 3038: 3034: 3030: 3025: 3019: 3015: 3010: 3001: 2999: 2995: 2991: 2987: 2986:United States 2983: 2979: 2976:in 1782. The 2975: 2974:Bank of Spain 2971: 2967: 2963: 2962:Banque Royale 2959: 2955: 2950: 2948: 2944: 2940: 2936: 2932: 2931:royal charter 2928: 2924: 2920: 2915: 2913: 2909: 2905: 2901: 2893: 2888: 2879: 2876: 2872: 2868: 2864: 2860: 2856: 2852: 2848: 2844: 2836: 2832: 2827: 2818: 2816: 2812: 2808: 2804: 2799: 2797: 2793: 2789: 2785: 2781: 2776: 2774: 2770: 2766: 2762: 2758: 2754: 2748: 2738: 2735: 2730: 2726: 2716: 2714: 2710: 2706: 2701: 2699: 2698:Deutsche Bank 2696:, as well as 2695: 2691: 2687: 2686:Bank of China 2683: 2679: 2675: 2671: 2667: 2662: 2661:(est. 1993). 2660: 2654: 2649:(est. 1814), 2648: 2644: 2636: 2632: 2628: 2624: 2620: 2616: 2612: 2609: 2605: 2601: 2597: 2593: 2589: 2585: 2581: 2577: 2574: 2570: 2566: 2562: 2558: 2554: 2550: 2546: 2543: 2539: 2535: 2531: 2527: 2523: 2519: 2516: 2512: 2508: 2504: 2500: 2496: 2493: 2489: 2485: 2481: 2477: 2476:Bank of Korea 2473: 2469: 2465: 2464:Bank of China 2461: 2460:Bank of Italy 2457: 2456:Bank of Japan 2453: 2449: 2445: 2441: 2440: 2439: 2437: 2433: 2429: 2425: 2414: 2412: 2408: 2404: 2400: 2395: 2391: 2387: 2383: 2378: 2376: 2372: 2369:in so-called 2368: 2364: 2360: 2356: 2352: 2348: 2347:United States 2344: 2340: 2332: 2328: 2319: 2317: 2313: 2312:fiscal policy 2309: 2305: 2300: 2297: 2292: 2290: 2286: 2282: 2278: 2274: 2270: 2266: 2265:monetary base 2262: 2258: 2254: 2250: 2246: 2242: 2241:national bank 2238: 2234: 2222: 2217: 2215: 2210: 2208: 2203: 2202: 2200: 2199: 2194: 2189: 2184: 2182: 2172: 2171: 2170: 2169: 2162: 2159: 2157: 2154: 2152: 2149: 2145: 2142: 2141: 2140: 2137: 2135: 2132: 2130: 2127: 2126: 2120: 2119: 2112: 2109: 2107: 2104: 2102: 2099: 2097: 2094: 2092: 2089: 2087: 2086:Peter Diamond 2084: 2082: 2079: 2077: 2074: 2072: 2071:Edmund Phelps 2069: 2067: 2064: 2062: 2059: 2057: 2054: 2052: 2049: 2047: 2046:Richard Stone 2044: 2042: 2039: 2037: 2034: 2032: 2031:Joan Robinson 2029: 2027: 2026:Simon Kuznets 2024: 2022: 2021:Gunnar Myrdal 2019: 2017: 2014: 2012: 2009: 2007: 2004: 2002: 1999: 1997: 1996:Irving Fisher 1994: 1992: 1991:Knut Wicksell 1989: 1987: 1984: 1982: 1979: 1977: 1974: 1972: 1969: 1967: 1964: 1963: 1960: 1955: 1954: 1947: 1944: 1942: 1939: 1937: 1934: 1930: 1927: 1926: 1925: 1922: 1920: 1917: 1913: 1910: 1909: 1908: 1905: 1903: 1900: 1899: 1898: 1897: 1891: 1888: 1886: 1883: 1881: 1878: 1876: 1873: 1869: 1866: 1865: 1864: 1863:New classical 1861: 1859: 1856: 1852: 1849: 1847: 1844: 1843: 1842: 1839: 1838: 1837: 1832: 1827: 1826: 1819: 1816: 1814: 1811: 1809: 1806: 1804: 1801: 1799: 1796: 1795: 1789: 1788: 1781: 1778: 1776: 1773: 1771: 1768: 1766: 1763: 1761: 1758: 1754: 1751: 1750: 1749: 1746: 1744: 1741: 1739: 1736: 1734: 1731: 1729: 1726: 1724: 1721: 1719: 1716: 1714: 1711: 1709: 1706: 1704: 1701: 1699: 1696: 1694: 1691: 1690: 1684: 1683: 1676: 1673: 1671: 1668: 1666: 1663: 1661: 1658: 1656: 1653: 1652: 1646: 1645: 1638: 1635: 1633: 1630: 1628: 1625: 1623: 1620: 1618: 1617:Shrinkflation 1615: 1613: 1610: 1608: 1605: 1603: 1600: 1596: 1593: 1592: 1591: 1588: 1586: 1583: 1579: 1576: 1575: 1574: 1571: 1569: 1566: 1562: 1559: 1558: 1557: 1554: 1552: 1549: 1545: 1542: 1540: 1537: 1535: 1532: 1531: 1530: 1527: 1525: 1522: 1520: 1517: 1515: 1514:Interest rate 1512: 1508: 1505: 1503: 1500: 1499: 1498: 1495: 1493: 1490: 1488: 1485: 1481: 1478: 1476: 1473: 1472: 1471:Expectations 1470: 1468: 1465: 1463: 1460: 1458: 1455: 1453: 1450: 1448: 1445: 1443: 1440: 1438: 1435: 1433: 1430: 1429: 1423: 1422: 1418: 1414: 1413: 1410: 1407: 1406: 1402: 1398: 1397: 1387: 1382: 1380: 1375: 1373: 1368: 1367: 1365: 1364: 1359: 1355: 1351: 1349: 1341: 1339: 1331: 1330: 1329: 1328: 1321: 1320: 1317: 1316:Watered stock 1314: 1312: 1309: 1307: 1304: 1302: 1299: 1297: 1296:Systemic risk 1294: 1292: 1289: 1287: 1284: 1282: 1279: 1277: 1274: 1272: 1269: 1267: 1264: 1262: 1259: 1257: 1256:List of banks 1254: 1252: 1249: 1245: 1242: 1240: 1237: 1235: 1232: 1230: 1227: 1225: 1222: 1221: 1220: 1217: 1215: 1212: 1210: 1207: 1205: 1202: 1200: 1197: 1195: 1192: 1190: 1187: 1185: 1182: 1180: 1177: 1175: 1174:Asset pricing 1172: 1171: 1165: 1164: 1153: 1150: 1148: 1145: 1143: 1140: 1138: 1135: 1133: 1130: 1128: 1125: 1123: 1120: 1118: 1115: 1113: 1110: 1108: 1105: 1103: 1100: 1098: 1095: 1093: 1090: 1088: 1085: 1083: 1080: 1078: 1075: 1073: 1070: 1068: 1065: 1063: 1060: 1058: 1055: 1053: 1050: 1048: 1045: 1043: 1040: 1038: 1035: 1031: 1028: 1026: 1023: 1021: 1018: 1016: 1013: 1011: 1008: 1006: 1003: 1001: 998: 996: 993: 991: 988: 987: 986: 983: 981: 978: 976: 973: 971: 968: 966: 963: 961: 958: 956: 953: 951: 948: 946: 945:Eco-investing 943: 941: 938: 936: 935:Disinvestment 933: 931: 928: 926: 923: 921: 918: 916: 915:Capital asset 913: 911: 908: 906: 903: 901: 898: 896: 893: 891: 888: 884: 881: 879: 876: 875: 874: 871: 870: 869: 868: 860: 859: 852: 849: 847: 844: 842: 839: 837: 834: 830: 827: 826: 825: 822: 820: 817: 815: 812: 810: 807: 803: 800: 798: 795: 794: 793: 790: 786: 783: 781: 778: 777: 776: 773: 771: 768: 766: 763: 762: 756: 755: 744: 741: 739: 736: 734: 731: 729: 726: 725: 724: 723: 719: 718: 715: 710: 707: 705: 702: 700: 697: 695: 692: 690: 687: 686: 685: 684: 680: 679: 674: 671: 667: 662: 661: 656: 655: 649: 646: 644: 641: 639: 636: 634: 631: 629: 626: 624: 621: 619: 616: 614: 611: 609: 606: 604: 601: 599: 598:Participation 596: 594: 591: 589: 586: 584: 581: 579: 578:Middle market 576: 574: 571: 569: 566: 564: 561: 559: 556: 554: 551: 549: 546: 544: 541: 539: 536: 534: 531: 529: 526: 524: 521: 519: 516: 514: 511: 509: 508:Bulge bracket 506: 504: 501: 499: 496: 495: 489: 488: 484: 480: 479: 476: 473: 472: 469: 465: 464: 454: 449: 447: 442: 440: 435: 434: 432: 431: 426: 422: 418: 417: 416: 415: 408: 405: 403: 400: 399: 393: 392: 385: 382: 380: 377: 375: 372: 371: 365: 364: 357: 354: 352: 349: 347: 344: 342: 339: 338: 332: 329: 327: 324: 323: 319: 318: 311: 308: 306: 303: 301: 298: 296: 293: 291: 288: 286: 285:Protectionism 283: 281: 278: 276: 273: 271: 268: 266: 263: 262: 259: 254: 253: 246: 243: 241: 238: 236: 235:Monetary base 233: 229: 226: 224: 221: 220: 219: 216: 214: 213:Interest rate 211: 209: 208:Gold reserves 206: 204: 201: 197: 194: 193: 192: 191:Bank reserves 189: 188: 185: 180: 179: 172: 169: 165: 162: 161: 160: 157: 155: 152: 150: 147: 145: 142: 140: 137: 133: 130: 129: 128: 125: 121: 118: 117: 116: 113: 112: 109: 108:Fiscal policy 104: 103: 96: 93: 91: 88: 86: 83: 81: 78: 76: 73: 71: 68: 66: 63: 61: 58: 56: 53: 51: 48: 47: 44: 39: 38: 34: 30: 29: 26: 23: 22: 19: 14722:Central bank 14721: 14701:Mary C. Daly 14615:Philadelphia 14568:Lisa D. Cook 14548:Michael Barr 14501:Janet Yellen 14495:Ben Bernanke 14483:Paul Volcker 14441:Eugene Meyer 14435:Roy A. Young 14395: 14354: 14286: 14278: 14207:FOMC actions 14161:Regulation Q 14149:Regulation D 13909:Publications 13865:Publications 13832: 13428:Neoclassical 13418:Mercantilism 13327:Evolutionary 13189:Sociological 13162: / 13060:Geographical 13040:Evolutionary 13015:Digitization 12980:Agricultural 12943:Econometrics 12871:Price theory 12675:Savings bank 12665:Central bank 12664: 12602:Legal tender 12509:Money portal 12126: 12078: 11900: 11800:Soviet Union 11798: 11771: 11719: 11597: 11557:Turkmenistan 11534: 11515:Saudi Arabia 11497: 11455: 11383: 11298:South Africa 11290: 11281:Sierra Leone 11054: 11036: 11017: 11014:Acocella, N. 10994:. Retrieved 10985: 10976: 10957: 10945:. Retrieved 10936: 10927: 10915:. Retrieved 10901: 10889:. Retrieved 10880: 10871: 10859:. Retrieved 10834: 10830: 10805:. Retrieved 10770: 10766: 10756: 10744:. Retrieved 10730: 10718:. Retrieved 10698: 10686:. Retrieved 10677: 10667: 10655:. Retrieved 10646: 10636: 10617: 10605:. Retrieved 10596: 10587: 10568: 10549: 10530: 10521: 10515: 10503:. Retrieved 10468: 10458: 10446:. Retrieved 10419: 10409: 10382: 10378: 10368: 10356:. Retrieved 10331: 10327: 10306:the original 10295: 10260: 10256: 10246: 10234:. Retrieved 10225: 10216: 10204:. Retrieved 10193: 10182: 10173: 10167: 10155:. Retrieved 10146: 10136: 10124:. Retrieved 10115: 10106: 10071: 10065: 10053:. Retrieved 10047: 10037: 10025:. Retrieved 10021: 10011: 9999:. Retrieved 9995: 9985: 9952: 9942: 9909: 9905: 9895: 9869:SpringerLink 9868: 9858: 9825: 9821: 9811: 9786: 9782: 9773: 9745: 9738: 9705: 9701: 9691: 9656: 9652: 9642: 9630:. Retrieved 9597: 9593: 9583: 9571:. Retrieved 9562: 9553: 9541:. Retrieved 9532: 9523: 9511:. Retrieved 9502: 9492: 9478: 9466:. Retrieved 9458:"Membership" 9452: 9440:. Retrieved 9431: 9422: 9404: 9395: 9385: 9377: 9372: 9364: 9355: 9347: 9328: 9323: 9311:. Retrieved 9307:the original 9297: 9289: 9284: 9265: 9260: 9252: 9247: 9235:. Retrieved 9231:the original 9221: 9209:. Retrieved 9204: 9195: 9185:29 September 9183:. Retrieved 9163: 9156: 9146:29 September 9144:. Retrieved 9124: 9117: 9107:29 September 9105:. Retrieved 9085: 9078: 9059: 9047:. Retrieved 9037: 9030: 9017: 9008: 9001:. Retrieved 8981: 8975: 8955: 8936: 8928: 8923: 8915: 8910: 8886: 8850: 8843: 8835: 8830: 8822: 8817: 8801: 8796: 8769: 8731: 8725: 8719:(12/1/2007). 8716: 8706: 8694:. Retrieved 8678: 8630: 8626: 8616: 8583:. Retrieved 8571: 8567: 8548:. Retrieved 8520: 8503:18 September 8501:. Retrieved 8481: 8477: 8458:. Retrieved 8449: 8436: 8401: 8397: 8387: 8375:. Retrieved 8366: 8357: 8345:. Retrieved 8336: 8326: 8318:the original 8313: 8303: 8283: 8276: 8265: 8255:29 September 8253:. Retrieved 8239: 8220: 8214: 8198: 8194: 8182: 8174: 8169: 8161:10419/154121 8144: 8140: 8130: 8121: 8114:. Retrieved 8094: 8086: 8052:Free banking 7911:Saudi Arabia 7892: 7884: 7581:Turkmenistan 7203:South Africa 7095:Sierra Leone 7005:Saudi Arabia 4971:Burkina Faso 4496: 4468: 4456: 4446: 4440: 4430: 4423: 4413: 4406: 4401: 4397: 4381: 4377: 4365: 4357: 4334: 4314: 4287: 4271: 4178:Standardized 4139:Standardized 4033:Central bank 4032: 3932: 3920: 3891: 3889: 3877: 3867:targets the 3841: 3834: 3830: 3806: 3786: 3755: 3743: 3726: 3721: 3715: 3705: 3687: 3673: 3668:money supply 3659: 3654: 3635: 3628: 3604: 3585: 3576: 3569: 3554: 3545: 3538: 3523: 3502: 3490: 3481: 3469: 3462: 3433: 3401: 3361: 3314: 3270:Bank of Java 3266: 3235: 3180: 3155:Free banking 3144: 3129: 3105: 3098: 3084: 3082:in Germany. 3056: 2951: 2916: 2897: 2840: 2837:was operated 2834: 2800: 2788:Yuan dynasty 2777: 2760: 2750: 2736: 2732: 2702: 2663: 2640: 2629:(1997). The 2478:(1950). The 2452:Bank of Java 2420: 2379: 2336: 2301: 2293: 2279:and against 2244: 2240: 2237:reserve bank 2236: 2233:central bank 2232: 2230: 2106:Paul Krugman 2051:Hyman Minsky 2011:Alvin Hansen 1895: 1894: 1835: 1798:Econometrics 1775:Overshooting 1728:Harrod–Domar 1723:Arrow–Debreu 1670:Central bank 1669: 1637:Unemployment 1627:Supply shock 1585:Money supply 1462:Disinflation 1457:Demand shock 1229:participants 1102:Pension fund 910:Asset growth 905:Bank secrecy 780:Bill payment 699:Money-market 669: 652: 533:Credit union 512: 258:Trade policy 245:Money supply 223:central bank 222: 196:requirements 149:Fiscal union 50:Agricultural 18: 14691:Lorie Logan 14685:Kansas City 14681:Jeff Schmid 14675:Minneapolis 14503:(2014–2018) 14497:(2006–2014) 14491:(1987–2006) 14485:(1979–1987) 14479:(1978–1979) 14473:(1970–1978) 14467:(1951–1970) 14461:(1948–1951) 14455:(1934–1948) 14449:(1933–1934) 14443:(1930–1933) 14437:(1927–1930) 14431:(1923–1927) 14425:(1916–1922) 14419:(1914–1916) 14392:(2020–2021) 14370:(2009–2010) 14351:(2008–2010) 14345:(2008–2010) 14327:(2007–2010) 14219:Nixon shock 14186:(1944–1971) 14131:Pittman Act 14121:(1909–1912) 14104:Antecedents 13703:von Neumann 13472:Supply-side 13457:Physiocracy 13401:Marginalism 13090:Information 13030:Engineering 13010:Development 13005:Demographic 12876:Game theory 12853:Theoretical 12627:Safekeeping 12481:Bimetallism 12396:(W. Africa) 11974:New Zealand 11866:The Bahamas 11833:Switzerland 11757:Netherlands 11552:Timor-Leste 11505:Philippines 11441:North Korea 11436:South Korea 11349:Afghanistan 11303:South Sudan 10861:11 December 10720:13 November 10688:13 November 10657:13 November 10236:30 November 10206:30 November 10126:12 November 9659:: 122–137. 9600:: 138–149. 9543:21 November 9513:21 November 9468:21 November 9442:21 November 9344:Mary Poovey 8696:17 December 8574:(2): 1–14. 7907:Switzerland 7866:Phabricator 7473:Timor-Leste 7365:Switzerland 6933:Saint Lucia 6807:Philippines 6609:New Zealand 6591:Netherlands 5961:Ivory Coast 5421:El Salvador 4521:Afghanistan 4399:ambiguous. 4274:UK Treasury 4134:Market risk 4085:Credit risk 3817:seigniorage 3413:World War I 3183:World War I 3068:grand duchy 2935:Tonnage Act 2792:convertible 2786:during the 2751:The use of 2339:World War I 1986:Léon Walras 1880:Supply-side 1713:Accelerator 1622:Stagflation 1607:Price level 1502:Demand-pull 1261:Market risk 1152:Toxic asset 1122:Speculation 1010:engineering 548:Development 528:Cooperative 346:Tax revenue 14784:Categories 14542:Vice Chair 14143:Phelan Act 14034:Beige Book 13971:Vice Chair 13860:Economists 13733:Schumacher 13638:Schumpeter 13608:von Wieser 13528:von Thünen 13488:Economists 13387:Circuitism 13352:Humanistic 13347:Historical 13322:Ecological 13312:Democratic 13285:Chartalism 13275:Behavioral 13238:Mainstream 13199:Statistics 13194:Solidarity 13115:Managerial 13080:Humanistic 13075:Historical 13020:Ecological 12985:Behavioral 12737:Monetarism 12725:Chartalism 12622:Redemption 12612:Possession 12575:Clay token 12428:Trade bead 12382:Cocoa bean 12366:Commodity 11752:Montenegro 11737:Luxembourg 11615:Azerbaijan 11593:Eurosystem 11567:Uzbekistan 11542:Tajikistan 11431:Kyrgyzstan 11426:Kazakhstan 11359:Bangladesh 11292:Somaliland 11276:Seychelles 11251:Mozambique 11236:Mauritania 11226:Madagascar 11151:Cape Verde 10358:11 January 10055:5 February 10027:3 November 10001:3 November 9313:31 October 9237:28 October 9211:2 November 9049:24 January 8627:GeoJournal 8550:27 October 8404:: 102296. 8116:3 February 8079:References 7844:Statistics 7725:Uzbekistan 7419:Tajikistan 7077:Seychelles 6969:San Marino 6519:Mozambique 6483:Montenegro 6393:Mauritania 6285:Madagascar 6249:Luxembourg 6105:Kyrgyzstan 6033:Kazakhstan 5223:Costa Rica 5061:Cape Verde 4737:Bangladesh 4683:Azerbaijan 4471:World Bank 4352:See also: 4317:groupthink 4227:Disclosure 4211:Legal risk 4024:Regulation 4012:Background 3908:signalling 3782:fiat money 3649:See also: 3621:volatility 3505:real-wages 3476:Keynesians 3472:real wages 3427:, and the 3181:Following 3113:bullionism 3076:Hottinguer 2769:Asia Minor 2741:Background 2723:See also: 2322:Definition 2281:bank fraud 2041:John Hicks 1971:Adam Smith 1929:Circuitism 1919:Ecological 1907:Chartalism 1858:Monetarism 1836:Mainstream 1733:Solow–Swan 1708:Multiplier 1665:Commercial 1561:Endogenous 1519:Investment 1234:regulation 883:management 878:allocation 775:Electronic 568:Industrial 563:Investment 543:Depository 518:Commercial 295:Trade bloc 270:Free trade 95:Policy mix 70:Investment 65:Industrial 14769:Sahm rule 14732:Fed model 14665:St. Louis 14625:Cleveland 14520:governors 14307:FIRRE Act 14273:DIDMC Act 14151:(c. 1930) 14065:Bank rate 13996:Banknotes 13976:Governors 13778:Greenspan 13743:Samuelson 13723:Galbraith 13693:Tinbergen 13633:von Mises 13628:Heckscher 13588:Edgeworth 13467:Stockholm 13462:Socialist 13362:Keynesian 13342:Happiness 13302:Classical 13263:Mutualism 13258:Anarchist 13243:Heterodox 13140:Personnel 13100:Knowledge 13065:Happiness 13055:Financial 13025:Education 13000:Democracy 12935:Empirical 12845:Economics 12446:(SE Asia) 12376:Axe-money 12081:indicate 12077:Names in 12067:Venezuela 12017:Argentina 11964:Australia 11938:Nicaragua 11913:Guatemala 11732:Lithuania 11525:Sri Lanka 11520:Singapore 11499:Palestine 11385:Hong Kong 11241:Mauritius 10851:156704685 10495:156551117 10401:1094-2939 10287:0022-0515 10098:168667912 9977:219373327 9969:1556-5068 9934:256511579 9926:1478-3320 9850:151251007 9842:0013-0427 9822:Economica 9803:1477-7835 9722:1758-6798 9683:245098383 9675:1469-3062 9622:235592376 9614:1469-3062 9227:"History" 8878:265264153 8655:150554109 8537:219366102 8428:252426183 8420:0176-2680 8038:Economics 7761:Venezuela 7329:Swaziland 7239:Sri Lanka 7113:Singapore 6627:Nicaragua 6411:Mauritius 6231:Lithuania 5853:Indonesia 5691:Guatemala 4647:Australia 4611:Argentina 4363:regimes. 3980:Basel III 3844:Bank Rate 3801:banknotes 3793:Hong Kong 3465:Inflation 3397:Frankfurt 3290:Hong Kong 3138:during a 3080:Oppenheim 2939:banknotes 2904:Stockholm 2811:Cahorsins 2709:President 2553:dominions 2386:banknotes 2367:Communism 2363:normative 2314:) of the 2273:bank runs 2139:Economics 1981:Karl Marx 1896:Heterodox 1875:Stockholm 1841:Keynesian 1612:Recession 1507:Cost-push 1497:Inflation 1452:Deflation 1214:Financial 1005:economics 985:Financial 851:BRICS PAY 643:Wholesale 638:Universal 538:Custodian 14737:Fedspeak 14635:Richmond 14605:New York 14137:Edge Act 13889:Category 13869:journals 13855:Glossary 13808:Stiglitz 13773:Rothbard 13753:Buchanan 13738:Friedman 13728:Koopmans 13718:Leontief 13698:Robinson 13583:Marshall 13433:Lausanne 13337:Georgism 13332:Feminist 13280:Buddhist 13270:Austrian 13169:Regional 13145:Planning 13120:Monetary 13050:Feminist 12995:Cultural 12990:Business 12585:Currency 12563:Clearing 12543:Banknote 12538:Bailment 12458:(Arabia) 12419:(barley) 12405:Quachtli 12160:Policies 12057:Suriname 12047:Paraguay 12032:Colombia 11923:Honduras 11876:Bermuda 11871:Barbados 11818:Slovenia 11813:Slovakia 11784:Portugal 11700:Hungaria 11640:Bulgaria 11620:Austrian 11599:Abkhazia 11547:Thailand 11493:Pakistan 11473:Mongolia 11468:Maldives 11463:Malaysia 11374:Cambodia 11333:Zimbabwe 11313:Tanzania 11186:Ethiopia 11181:Eswatini 11166:Djibouti 11141:Botswana 11063:Archived 10990:Archived 10965:Archived 10947:20 March 10941:Archived 10911:Archived 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6321:Malaysia 5781:Honduras 5493:Ethiopia 5349:Dominica 5331:Djibouti 5151:Colombia 5025:Cameroon 5007:Cambodia 4953:Bulgaria 4899:Botswana 4755:Barbados 4464:Populism 3975:Basel II 3850:and the 3407:and the 3164:Bank War 3018:Helsinki 2958:John Law 2815:deposits 2705:Governor 2625:(1993), 2621:(1981), 2617:(1971), 2606:(1964), 2602:(1952), 2594:(1943), 2590:(1935), 2586:(1930), 2582:(1924), 2571:(1960), 2567:(1935), 2563:(1934), 2559:(1921), 2528:(1948), 2524:(1860), 2513:(1945), 2509:(1907), 2505:(1879), 2501:(1850), 2474:(1934), 2470:(1925), 2466:(1912), 2462:(1893), 2458:(1882), 2454:(1828), 2450:(1800), 2446:(1791), 2359:positive 2345:and the 2308:monetary 2261:monopoly 2249:currency 2123:See also 1902:Austrian 1660:Monetary 1649:Policies 1480:Rational 1475:Adaptive 1401:a series 1399:Part of 1338:Category 1030:services 1015:forecast 990:analysis 895:Bad debt 681:Accounts 666:Accounts 603:Payments 593:Offshore 573:Merchant 498:Advising 331:Spending 159:Spending 132:internal 90:Monetary 55:Economic 43:Policies 14757:History 14742:Fed put 14715:Related 14655:Chicago 14645:Atlanta 14518:Current 14382:(2010; 14376:(2009–) 14099:History 14027:Reports 13904:Outline 13875:Schools 13867: ( 13828:Piketty 13823:Krugman 13688:Kuznets 13678:Kalecki 13653:Polanyi 13543:Cournot 13538:Bastiat 13523:Ricardo 13513:Malthus 13503:Quesnay 13406:Marxian 13297:Chicago 13227:history 13222:Schools 13209:Welfare 13179:Service 12970:Applied 12636:General 12590:Deposit 12580:Coinage 12452:(Hindu) 12394:Manilla 12079:italics 12062:Uruguay 12037:Ecuador 12010:America 11999:Vanuatu 11957:Oceania 11928:Jamaica 11854:America 11843:Ukraine 11789:Romania 11747:Moldova 11710:Ireland 11705:Iceland 11690:Georgia 11680:Finland 11675:Estonia 11670:England 11665:Germany 11660:Denmark 11645:Croatia 11630:Belgium 11625:Belarus 11610:Armenia 11605:Albania 11572:Vietnam 11478:Myanmar 11451:Lebanon 11354:Bahrain 11318:Tunisia 11286:Somalia 11261:Nigeria 11256:Namibia 11246:Morocco 11216:Liberia 11211:Lesotho 11176:Eritrea 11156:Comoros 11146:Burundi 11131:Algeria 10917:31 July 10807:10 June 10505:12 June 10348:2077833 10226:Reuters 10157:10 July 9255:(1999). 8460:27 June 8367:AP NEWS 8123:resort. 8012:Portals 7868:and on 7837:0.4939 7819:0.5240 7801:0.5205 7783:0.1316 7779:Vietnam 7765:0.4515 7747:0.4979 7743:Vanuatu 7729:0.5958 7711:0.6260 7707:Uruguay 7693:0.4804 7675:0.7012 7657:0.4855 7639:0.8993 7635:Ukraine 7621:0.5719 7603:0.0063 7585:0.2067 7567:0.8990 7549:0.5916 7545:Tunisia 7531:0.4439 7513:0.3080 7495:0.8015 7477:0.7765 7459:0.3815 7441:0.5873 7423:0.6796 7405:0.1940 7387:0.3715 7369:0.7399 7351:0.3545 7333:0.3734 7315:0.5139 7297:0.3326 7279:0.6424 7261:0.6424 7243:0.6055 7225:0.8565 7207:0.3652 7189:0.6423 7185:Somalia 7171:0.7448 7153:0.8565 7135:0.8565 7117:0.4304 7099:0.7248 7081:0.6785 7063:0.6760 7045:0.8111 7027:0.8015 7023:Senegal 7009:0.5522 6991:0.4820 6973:0.1854 6955:0.3311 6937:0.6424 6919:0.5988 6901:0.6999 6883:0.8462 6879:Romania 6865:0.5861 6847:0.8565 6829:0.8753 6811:0.6340 6793:0.7978 6775:0.6171 6757:0.5838 6739:0.2176 6721:0.3397 6703:0.4970 6685:0.4526 6667:0.6263 6663:Nigeria 6649:0.8015 6631:0.6910 6613:0.7773 6595:0.8565 6577:0.6443 6559:0.5100 6555:Namibia 6541:0.3953 6537:Myanmar 6523:0.3663 6505:0.6219 6501:Morocco 6487:0.8190 6469:0.5553 6451:0.6943 6447:Moldova 6433:0.6383 6415:0.5609 6397:0.6360 6379:0.8565 6361:0.8015 6343:0.4282 6325:0.5765 6307:0.2865 6289:0.6420 6271:0.6789 6253:0.8565 6235:0.8440 6217:0.3225 6199:0.4725 6195:Liberia 6181:0.6810 6177:Lesotho 6163:0.4000 6159:Lebanon 6145:0.8865 6127:0.2411 6109:0.5736 6091:0.4104 6073:0.5074 6055:0.5074 6037:0.5574 6019:0.4826 6001:0.4360 5983:0.3830 5979:Jamaica 5965:0.8015 5947:0.8565 5929:0.6703 5911:0.8565 5907:Ireland 5893:0.3015 5875:0.4363 5857:0.8461 5839:0.2950 5821:0.8276 5817:Iceland 5803:0.9115 5799:Hungary 5785:0.6710 5767:0.3755 5749:0.6383 5731:0.8015 5713:0.8665 5695:0.7825 5677:0.6424 5673:Grenada 5659:0.8565 5641:0.5607 5623:0.8565 5619:Germany 5605:0.7986 5601:Georgia 5587:0.5119 5569:0.5015 5551:0.8565 5533:0.8565 5529:Finland 5515:0.4349 5497:0.2913 5479:0.8565 5475:Estonia 5461:0.3981 5457:Eritrea 5443:0.5015 5425:0.7576 5407:0.4875 5389:0.4709 5385:Ecuador 5371:0.6483 5353:0.6424 5335:0.6984 5317:0.5026 5313:Denmark 5299:0.8315 5281:0.8565 5263:0.2252 5245:0.8190 5241:Croatia 5227:0.7343 5209:0.5015 5191:0.5628 5173:0.6824 5169:Comoros 5155:0.6933 5137:0.5535 5119:0.8190 5101:0.5015 5083:0.5015 5065:0.5180 5047:0.4724 5029:0.5015 5011:0.6373 4993:0.7232 4989:Burundi 4975:0.8015 4957:0.8565 4939:0.6815 4921:0.2549 4903:0.5159 4885:0.9790 4867:0.7970 4863:Bolivia 4849:0.5426 4831:0.8015 4813:0.5930 4795:0.8565 4791:Belgium 4777:0.7487 4773:Belarus 4759:0.4133 4741:0.3276 4723:0.4334 4719:Bahrain 4705:0.4038 4701:Bahamas 4687:0.5715 4669:0.8565 4665:Austria 4651:0.2511 4633:0.8465 4629:Armenia 4615:0.7003 4597:0.6424 4579:0.5855 4561:0.4525 4557:Algeria 4543:0.7105 4539:Albania 4525:0.8076 4504:Country 4151:CVA vol 4020:Banking 4000:Endgame 3970:Basel I 3541:capital 3438:of the 3345:Tangier 3282:Algiers 3274:Batavia 3207:Austria 3052:Beijing 2894:in 1791 2857:in the 2849:in the 2719:History 2610:(1998). 2598:(1950) 2555:, e.g. 2517:(1991). 2144:Applied 1941:Marxian 1831:Schools 1348:Commons 1025:planner 995:analyst 743:Prepaid 704:Savings 694:Deposit 628:Savings 613:Private 588:Neobank 513:Central 475:Banking 368:Optimum 326:Revenue 164:deficit 154:Revenue 14695:Dallas 14595:Boston 14409:Chairs 14400:(2024) 14359:(2009) 14339:(2008) 14333:(2008) 14321:(1999) 14315:(1991) 14309:(1989) 14303:(1987) 14297:(1987) 14291:(1985) 14283:(1981) 14275:(1980) 14269:(1978) 14263:(1978) 14257:(1978) 14251:(1977) 14245:(1977) 14239:(1975) 14233:(1974) 14227:(1971) 14221:(1971) 14215:(1968) 14203:(1956) 14197:(1951) 14175:(1934) 14169:(1933) 14163:(1933) 14157:(1933) 14145:(1920) 14139:(1919) 14133:(1918) 14127:(1913) 14115:(1908) 13813:Thaler 13793:Ostrom 13788:Becker 13783:Sowell 13763:Baumol 13668:Myrdal 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