Issues related to central banks feature regularly in economic news coverage, and in times of economic or financial crisis, especially when a commercial bank is bailed out, they become the focus of the policy debate. But what role do central banks play in a modern economy? How do central banks...

1. Introduction -- 2. Theoretical Framework: Identifying Central Banks' Two-Tier Relationship -- 3. The Global Financial Crisis: The Challenge for Central Banks -- 4. US Federal Reserve System and the Global Financial Crisis -- 5. Bank of England and the Global Financial Crisis -- 6. Bank of...

Challenges facing central bankers are expertly examined and analyzed. The book explores monetary policy and financial crisis as well as insolvency, collective action clauses, international mediation, and management of central banks. The author has worked as an economist at the Monetary and...

This seventh edition of an investment classic has been thoroughly revised and expanded following the latest crises to hit international markets. Renowned economist Robert Z. Aliber introduces the concept that global financial crises in recent years are not independent events, but symptomatic of...