Ulrich Bindseil's Books

Central Banking Before 1800

A Rehabilitation

By: Ulrich Bindseil

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Central banking has a long and colourful history from which important lessons can be drawn. This book reviews the policy objectives and financial operations of 25 central banks established before 1800 to show that many of today's central banking controversies date as far back as this time.

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337

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ISBN 10

0198849990

ISBN 13

9780198849995

Central Banking before 1800

A Rehabilitation

By: Ulrich Bindseil

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Central Banking before 1800

A Rehabilitation

By: Ulrich Bindseil

Although central banking is today often presented as having emerged in the nineteenth or even twentieth century, it has a long and colourful history before 1800, from which important lessons for today's debates can be drawn. While the core of central banking is the issuance of money of the highest possible quality, central banks have also varied considerably in terms of what form of money they issued (deposits or banknotes), what asset mix they held (precious metals, financial claims to the government, loans to private debtors), who owned them (the public, or private shareholders), and who benefitted from their power to provide emergency loans. Central Banking Before 1800: A Rehabilitation reviews 25 central banks that operated before 1800 to provide new insights into the financial system in early modern times. Central Banking Before 1800 rehabilitates pre-1800 central banking, including the role of numerous other institutions, on the European continent. It argues that issuing central bank money is a natural monopoly, and therefore central banks were always based on public charters regulating them and giving them a unique role in a sovereign territorial entity. Many early central banks were not only based on a public charter but were also publicly owned and managed, and had well defined policy objectives. Central Banking Before 1800 reviews these objectives and the financial operations to show that many of today's controversies around central banking date back to the period 1400-1800.

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337

Publisher

Oxford University Press

Published Date

ISBN 10

019258992X

ISBN 13

9780192589927

Monetary Policy Implementation

Theory, past, and present

By: Ulrich Bindseil

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Monetary Policy Implementation

Theory, past, and present

By: Ulrich Bindseil

The first of its kind, this book is entirely dedicated to the implementation of monetary policy. Monetary policy implementation has gone through tremendous changes over the last twenty years, which have witnessed the quiet end of 'reserve position doctrine' and the return of an explicit focus on short-term interest rates. Enthusiastically supported by Keynes and later by the monetarist school, reserve position doctrine was developed mainly by US central bankers and academics during the early 1920s, and at least in the US became the unchallenged dogma of monetary policy implementation for sixty years. The return of interest rate targeting also corresponds largely to the restoration of central banking principles established in the late 19th century. Providing a simple theory of monetary policy implementation, Bindseil goes on to explain the role of the three main instruments (open market operations, standing facilities, and reserve requirements) and reviews their use in the twentieth century. In closing, he summarizes current views on efficient monetary policy implementation.

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Page Count

288

Publisher

OUP Oxford

Published Date

ISBN 10

0191608475

ISBN 13

9780191608476

Monetary Policy Operations and the Financial System

By: Ulrich Bindseil

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Monetary Policy Operations and the Financial System

By: Ulrich Bindseil

Since 2007, central banks of industrialized countries have counteracted financial instability, recession, and deflationary risks with unprecedented monetary policy operations. While generally regarded as successful, these measures also led to an exceptional increase in the size of central bank balance sheets. The book first introduces the subject by explaining monetary policy operations in normal times, including the key instruments (open market operations, standing facilities, reserve requirements, and the collateral framework). Second, the book reviews the basic mechanics of financial crises as they have hit economies many times. The book then explains what central banks need to do to when financial markets and banks are impaired to fulfil their monetary policy and financial stability mandates. Besides demonstrating the need for non-conventional monetary policy measures, the book also highlights their dangers, such as moral hazard and increased central bank risk taking. The book draws a number of lessons from the crisis on non-conventional monetary policy operations, assessing what measures have worked well, and how a framework should be designed in future normal times such as to contribute to make financial crises less likely. Central bank monetary policy operations have traditionally been considered as a matter of practice, while the macroeconomic modelling of the transmission mechanism of monetary policy is regarded as a discipline relying on substantial theory ('monetary economics'). However, monetary policy operations can equally benefit from a theory, and from a normative framework to guide policy choices. The limited interest that monetary policy operations have found for many decades in academic economics may well have contributed to the many misunderstandings on central bank actions over recent years. This book provides a basis for a better theoretical understanding of real-world monetary policy operations.

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337

Publisher

OUP Oxford

Published Date

ISBN 10

019102645X

ISBN 13

9780191026454

Introduction to Payments and Financial Market Infrastructures

By: Ulrich Bindseil,George Pantelopoulos

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Introduction to Payments and Financial Market Infrastructures

By: Ulrich Bindseil,George Pantelopoulos

Payments and financial market infrastructures are vital components of modern economies, yet they have often been overlooked by economists. However, any economic exchange, including financial market transactions, is matched by a payment leg, and the safety, efficiency, and immediacy of the payment, and the problem of linking the two legs of the transaction (“delivery-vs-payment”), remain universal challenges. The consequences of inefficiencies or interruptions in payment and settlement systems have immediate and significant impacts on the real economy. Moreover, payments and financial market infrastructures are also a matter of strategic importance for nation-states, and being excessively dependent on foreign providers has been proven to be a significant risk, as they can be “weaponized." This book provides a concise yet thorough introduction to payments and financial market infrastructures, exploring various types of risks, retail payments, payment systems, cross-border payments, central counterparties, FX operations, and central securities depositories. The final chapter investigates payment innovations, including unbacked crypto-assets (e.g. Bitcoin), stablecoins, and central bank digital currencies. The text outlines key activities and risk management frameworks, as well as examining the operational mechanics of different payment systems. The book emphasizes the importance of understanding the nature of transfer of financial claims and liabilities through the process of payment and settlement, providing financial account representations of payments wherever useful. The book concludes that the payment and financial market infrastructure space has been shaken by recent innovations, which are expected to lead to seismic shifts in payment technology, practices, and market structures.

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Page Count

160

Publisher

Springer Nature

Published Date

ISBN 10

3031395204

ISBN 13

9783031395208

Monetary Policy Operations and the Financial System

By: Ulrich Bindseil

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Monetary Policy Operations and the Financial System

By: Ulrich Bindseil

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337

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OUP Oxford

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019102645X

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9780191026454

GDR Development Policy in Africa

Doctrine and Strategies Between Illusions and Reality 1960-1990. the Example (South) Africa

By: Ulrich van der Heyden

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GDR Development Policy in Africa

Doctrine and Strategies Between Illusions and Reality 1960-1990. the Example (South) Africa

By: Ulrich van der Heyden

This book focuses the multi-faceted and far-reaching dealings between the former German Democratic Republic (GDR) and Third World countries, including their liberation movements and development policies. For almost 40 years, the history and previously intense relationship which was maintained between the GDR and Africa has been disregarded. This situation is arguably incomprehensible as Germany's image in many Third World countries has been defined greatly by the smaller of the two Germanies, especially in South Africa. (Series: Spectrum. Berlin Series on Society, Economy and Policy in Developing Countries / Spektrum. Berliner Reihe zu Gesellschaft, Wirtschaft und Politik in Entwicklungslandern - Vol. 109)

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Page Count

317

Publisher

LIT Verlag Münster

Published Date

ISBN 10

3643904215

ISBN 13

9783643904218

Introduction to Scholastic Theology

By: Ulrich G. Leinsle

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Introduction to Scholastic Theology

By: Ulrich G. Leinsle

With this book, distinguished historian of philosophy Ulrich Leinsle offers the first comprehensive introduction to scholastic theology -- a textbook for both Protestant and Catholic students.

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407

Publisher

CUA Press

Published Date

ISBN 10

081321792X

ISBN 13

9780813217925

Commentary on True and False Religion

By: Ulrich Zwingli

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Commentary on True and False Religion

By: Ulrich Zwingli

Next to Luther himself, Ulrich Zwingli (1484-1531) was probably the most important and certainly the most influential of the early Protestant reformers. His Commentary on True and False Religion, addressed to King Francis I of France and published by the printer Froschauer in Zurich in 1525, contrasted what Zwingli regarded as the true religion of the Protestants, grounded in Scripture, with the false religion of tradition and reason advocated by the opponents of the Reformation. In twenty-nine chapters Zwingli discussed all of the principal topics of Christian theology, from the meaning of the word "religion" itself to the role and place of images in Christian worship. All the disputed issues of the early Reformation--the doctrine of Church and ministry, baptism, penance, eucharist, the nature of civil authority--are explained lucidly and concisely. The Commentary makes clear not only the grounds for Zwingli's break with the medieval Catholic tradition in which he had been raised but also the nature of his disagreements with Erasmus, Luther, and the Swiss Anabaptists. The result is the most significant dogmatic work which Zwingli ever wrote and the most important systematic statement of Reformed theology before Calvin's Institutes.

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Page Count

424

Publisher

Wipf and Stock Publishers

Published Date

ISBN 10

1725235897

ISBN 13

9781725235892

Monetary Policy Implementation

Theory, Past, and Present

By: Ulrich Bindseil

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Monetary Policy Implementation

Theory, Past, and Present

By: Ulrich Bindseil

The first of its kind, this book is entirely dedicated to the implementation of monetary policy. Monetary policy implementation has gone through tremendous changes over the last twenty years, which have witnessed the quiet end of 'reserve position doctrine' and the return of an explicit focus on short-term interest rates.Enthusiastically supported by Keynes and later by the monetarist school, reserve position doctrine was developed mainly by US central bankers and academics during the early 1920s, and at least in the US became the unchallenged dogma of monetary policy implementation for sixty years. The return of interest rate targeting also corresponds largely to the restoration of central banking principles established in the late 19th century.Providing a simple theory of monetary policy implementation, Bindseil goes on to explain the role of the three main instruments (open market operations, standing facilities, and reserve requirements) and reviews their use in the twentieth century. In closing, he summarizes current views on efficient monetary policy implementation.

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Page Count

289

Publisher

Oxford University Press, USA

Published Date

ISBN 10

0199274541

ISBN 13

9780199274543

Introduction to Central Banking

By: Ulrich Bindseil,Alessio Fotia

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Introduction to Central Banking

By: Ulrich Bindseil,Alessio Fotia

This open access book gives a concise introduction to the practical implementation of monetary policy by modern central banks. It describes the conventional instruments used in advanced economies and the unconventional instruments that have been widely adopted since the financial crisis of 2007–2008. Illuminating the role of central banks in ensuring financial stability and as last resort lenders, it also offers an overview of the international monetary framework. A flow-of-funds framework is used throughout to capture this essential dimension in a consistent and unifying manner, providing a unique and accessible resource on central banking and monetary policy, and its integration with financial stability. Addressed to professionals as well as bachelors and masters students of economics, this book is suitable for a course on economic policy. Useful prerequisites include at least a general idea of the economic institutions of an economy, and knowledge of macroeconomics and monetary economics, but readers need not be familiar with any specific macroeconomic models.

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Page Count

128

Publisher

Springer Nature

Published Date

ISBN 10

3030708845

ISBN 13

9783030708849

Introduction to Payments and Financial Market Infrastructures

By: Ulrich Bindseil,George Pantelopoulos

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Introduction to Payments and Financial Market Infrastructures

By: Ulrich Bindseil,George Pantelopoulos

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Page Count

160

Publisher

Springer Nature

Published Date

ISBN 10

3031395204

ISBN 13

9783031395208

Book's by Ulrich Bindseil

Central Banking Before 1800

Central Banking Before 1800

Central Banking before 1800

Central Banking before 1800

Monetary Policy Implementation

Monetary Policy Implementation

Monetary Policy Operations and the Financial System

Monetary Policy Operations and the Financial System

Introduction to Payments and Financial Market Infrastructures

Introduction to Payments and Financial Market Infrastructures

Monetary Policy Operations and the Financial System

Monetary Policy Operations and the Financial System

GDR Development Policy in Africa

GDR Development Policy in Africa

Introduction to Scholastic Theology

Introduction to Scholastic Theology

Commentary on True and False Religion

Commentary on True and False Religion

Monetary Policy Implementation

Monetary Policy Implementation

Introduction to Central Banking

Introduction to Central Banking

Introduction to Payments and Financial Market Infrastructures

Introduction to Payments and Financial Market Infrastructures

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