On Central Banking

Jan Qvigstad draws on his extensive experience in these six lectures on how central banks can make good policy decisions.

Jan Fredrik Qvigstad (Author)

9781107150973, Cambridge University Press

Hardback, published 30 June 2016

202 pages
16.4 x 23.3 x 1.8 cm, 0.52 kg

'I will be teaching a new M.Sc. programme in Money, Banking and Central Banking from September 2017. This book will be essential reading for the students to familiarise themselves with key topics in modern monetary economics and central banking, and to learn that they must adopt a comprehensive and multidisciplinary approach in understanding central banks' roles and policies in our economies.' Juan Castañeda, Economic Affairs

In these six lectures given at the Norwegian Royal Academy of Science and Letters, Jan Qvigstad draws on his deep experience at Norges Bank to outline key principles on which to base central bank policy. The first two lectures (Keeping promises and Transparency) emphasize the importance of credibility and ensuring accountability. Lectures 3-6 can be viewed as applying these key principles to specific issues (Making good decisions; Managing wealth; Learning from history; and Institutions). The lectures do not break new ground - indeed, Qvigstad nicely illustrates how these principles have been articulated in literature, history and politics. Rather, the lectures emphasize the lessons to be drawn by applying these principles to central banking history with primary reference to the case of Norway, such as managing Norway's sovereign wealth fund and designing institutions that will produce good policy outcomes.

Foreword
Preface
1. On keeping promises
2. On transparency
3. On making good decisions
4. On managing wealth
5. On learning from history – truths and eternal truths
6. On institutions – fundamentals of confidence and trust
Index

Subject Areas: Banking [KFFK], International economics [KCL], Macroeconomics [KCB], Economics [KC]