Charles Albert Eric Goodhart's Books

The Central Bank and the Financial System

By: Charles Albert Eric Goodhart

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The Central Bank and the Financial System

By: Charles Albert Eric Goodhart

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

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Page Count

560

Publisher

MIT Press

Published Date

ISBN 10

0262071673

ISBN 13

9780262071673

Financial Regulation

Why, How, and where Now?

By: Charles Albert Eric Goodhart

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Financial Regulation

Why, How, and where Now?

By: Charles Albert Eric Goodhart

Published in association with the Bank of England, this volume presents an important restatement of the purposes and objectives of financial regulation.

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Page Count

274

Publisher

Psychology Press

Published Date

ISBN 10

0415185041

ISBN 13

9780415185042

The New York Money Market and the Finance of Trade, 1900-1913

By: Charles Albert Eric Goodhart

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The New York Money Market and the Finance of Trade, 1900-1913

By: Charles Albert Eric Goodhart

The early 1900s U.S. saw considerable seasonal variations in the balance of trade, primarily caused by the annual agricultural cycle. This examination of the New York money market demonstrates that the frequent fluctuations in monetary conditions were caused by variations in the trade flows rather than capital movements by banks.

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Page Count

262

Publisher

Harvard University Press

Published Date

ISBN 10

0674619501

ISBN 13

9780674619500

Intervention to Save Hong Kong

The Authorities' Counter-speculation in Financial Markets

By: Charles Albert Eric Goodhart,Dai Lu

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Intervention to Save Hong Kong

The Authorities' Counter-speculation in Financial Markets

By: Charles Albert Eric Goodhart,Dai Lu

By August 1998, the Hong Kong economy had become threatened not only by the natural consequences of the Asian crisis (1997-98), but also by waves of speculation, betting that the authorities would be forced to abandon the linked exchange rate (to the US dollar). When facing previous speculative attacks (starting October 1997), the authorities had followed traditional policies of raising interest rates. But by August 1998, such policies had helped to batter asset markets; property prices and output were falling, and confidence was low. Moreover, the speculators had developed an ingenious 'double play', simultaneously selling both the foreign exchange market and the Hang Seng equity market short; whether the authorities used an interest rate defense, or abandoned the 'link', the speculators would gain either way. So, the authorities decided on a bold, unexpected and unconventional response to reports of a further attack. They would undertake counter-intervention, again both in the equity and foreign exchange markets. This book provides a fascinating story in itself, and insights into what lessons academics and practitioners can learn from the turbulent events of the time.

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Page Count

236

Publisher

Oxford University Press, USA

Published Date

ISBN 10

0199261105

ISBN 13

9780199261109

The Evolution of Central Banks

By: Charles Albert Eric Goodhart

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The Evolution of Central Banks

By: Charles Albert Eric Goodhart

The Evolution of Central Banks employs a wide range of historical evidence and reassesses current monetary analysis to argue that the development of non-profit-maximizing and noncompetitive central banks to supervise and regulate the commercial banking system fulfils a necessary and natural function.Goodhart surveys the case for free banking, examines the key role of the clearing house in the evolution of the central bank, and investigates bank expansion and fluctuation in the context of the clearing house mechanism. He concludes that it is the noncompetitive aspect of the central bank that is crucial to the performance of its role. Goodhart addresses the questions of deposit insurance and takes up the "club theory" approach to the central bank. Included in the historical study of their origins are 8 European central banks, the Bank of Japan, the Bank of England, and the Federal Reserve Board of the United States.Charles Goodhart was appointed to the newly established Norman Sosnow Chair of Banking and Finance at the London School of Economics in 1985. For the previous 17 years he served as a monetary economist at the Bank of England, becoming a Chief Adviser in 1980.

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Page Count

205

Publisher

MIT Press (MA)

Published Date

ISBN 10

0262570734

ISBN 13

9780262570732

The Central Bank and the Financial System

By: Charles Albert Eric Goodhart

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The Central Bank and the Financial System

By: Charles Albert Eric Goodhart

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Page Count

560

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MIT Press

Published Date

ISBN 10

0262071673

ISBN 13

9780262071673

Money, Information, and Uncertainty

By: Charles Albert Eric Goodhart

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Money, Information, and Uncertainty

By: Charles Albert Eric Goodhart

Significantly rewritten and updated, this well known textbook covers the whole of monetary economics, from the role of money to international monetary relationships. It is unique in linking theoretical findings to policy issues and events, and extends conventional analyses of financial intermediation and monetary theory.Money, Information, and Uncertainty bridges the gap between introductory textbooks and the latest journal articles, clarifying the macroeconomic significance of a series of innovative developments in the economics of information and the analysis of financial markets and institutions. Goodhart brings out the key implications of ideas such as information asymmetries and market-completion services for problems relating to money and banking, making it easier for banking specialists who don't follow the financial literature to understand where their field is moving.The book's 18 chapters are organized around the theme that monetary phenomena can be properly understood only against a background of uncertainty and information costs, and around the premise that portfolio theory is the most appropriate analytical tool.The first 9 chapters focus on microeconomic issues, such as the role of and the demand for money and the role and functions of banks and of the Central Bank. The final 9 chapters take up macroeconomic issues, such as the transmission mechanisms of monetary policy and international monetary problems. Chapters new to this edition cover the nature of markets, credit rationing, the functions of central banks, financial regulation the determination of interest rates, and floating exchange rates.Charles Goodhart is Norman Sosnow Professor of Banking and Finance at the London School of Economics. He has served as a monetary economist and as Chief Adviser at the Bank of England. He is the author of The Evolution of Central Banks.

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Page Count

493

Publisher

Mit Press

Published Date

ISBN 10

0262570750

ISBN 13

9780262570756

Central Banking, Monetary Theory and Practice

Essays in Honour of Charles Goodhart. Volume one

By: Charles Albert Eric Goodhart

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Central Banking, Monetary Theory and Practice

Essays in Honour of Charles Goodhart. Volume one

By: Charles Albert Eric Goodhart

In sum, the books thoroughly and practically address central banking and monetary policy issues which are clearly and superbly exposed by academic, economist and central banking superstars. . . both volumes are certainly recommended.' - Gabriel Gómez Giglio, Journal of International Banking Law Commenting on the quality of the contributors when opening the conference on which these books are based, the former Governor of the Bank of England, Sir Edward George, said 'I cannot remember ever before having had such a galaxy of academic economist and central banking superstars gathered together under one roof!

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Page Count

292

Publisher

Edward Elgar Publishing

Published Date

ISBN 10

1840646144

ISBN 13

9781840646146

Financial Regulation

A Transatlantic Perspective

By: Ester Faia,Andreas Hackethal,Michael Haliassos,Katja Langenbucher

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Financial Regulation

A Transatlantic Perspective

By: Ester Faia,Andreas Hackethal,Michael Haliassos,Katja Langenbucher

The 2007 to 2009 financial crisis resulted in the re-emergence of the debate on financial regulation and its relationships with other macroeconomic policies, particularly monetary policy. In Europe, the financial crisis was followed by the sovereign debt crisis, as the bail-out of the financial sector put strains on public finances in several countries. The sequence of events called for a strengthening of the union, ranging from a common framework for supervisory policy that could minimize the risk of unforeseen bank or country defaults to a common resolution mechanism that could set equal rules across countries and reduce ex-ante mis-incentives to risk-taking and moral hazard. This analysis of the state of and prospects for financial regulation examines the lending and saving behavior of banks and households as well as their borrowing activities in order to understand the conflicting priorities and complicated decisions involved in the development and implementation of financial legislation.

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Page Count

375

Publisher

Cambridge University Press

Published Date

ISBN 10

1316033635

ISBN 13

9781316033630

Book's by Charles Albert Eric Goodhart

The Central Bank and the Financial System

The Central Bank and the Financial System

Financial Regulation

Financial Regulation

The New York Money Market and the Finance of Trade, 1900-1913

The New York Money Market and the Finance of Trade, 1900-1913

Intervention to Save Hong Kong

Intervention to Save Hong Kong

The Evolution of Central Banks

The Evolution of Central Banks

The Central Bank and the Financial System

The Central Bank and the Financial System

Money, Information, and Uncertainty

Money, Information, and Uncertainty

Central Banking, Monetary Theory and Practice

Central Banking, Monetary Theory and Practice

Financial Regulation

Financial Regulation

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