The Quest for Stable Money: Central Banking in Austria, 1816-2016 by Clemens Job

Description: FREE SHIPPING UK WIDE The Quest for Stable Money by Clemens Jobst, Hans Kernbauer Caught up in the costly Napoleonic wars, Austria went into sovereign default in 1811. Five years later, the public authorities founded a national bank to be financed and run by private shareholders, the idea being that an independent bank would help rebuild trust in money. During the two hundred years that followed, the Oesterreichische Nationalbank grew from the treasurys banker-of-choice into a central bank, and from a private stock corporation into a public institution. Yet the challenges facing todays Nationalbank are a surprising echo of the past: How can it provide stable money? How far must central bank independence go? How does monetary policy making work in a multinational monetary union? Stretching from the Nationalbanks predecessor, the Wiener Stadtbanco, to Austrias integration into the European Union today, this engaging book provides the first extensive overview of Austrias monetary history. FORMAT Hardcover LANGUAGE English CONDITION Brand New Author Biography Clemens Jobst is lead economist at the Oesterreichische Nationalbank and research affiliate with the Centre for Economic Policy Research in London. Hans Kernbauer teaches economic history at the Vienna University of Economics and Business, following a career at the Vienna Institute for Advanced Studies, the Oesterreichische Nationalbank, the Austrian Ministry of Finance, and other Austrian financial institutions. Table of Contents Introduction A first try at monetary autonomy - the Wiener Stadtbanco (1706-1816) Public banks in the 1600s and 1700s- innovative payment services and public debt management A bankrupt sovereign in need of a public bank Paper money and inflation Fragile stability during the Nationalbanks formative years (1816-1848) A private stock corporation as a guardian of Austrias currency Note-issuing bank of an economically and politically heterogeneous empire The tasks of the Nationalbank Turning from the treasurys banker to the bankers bank (1848-1978) 1848-the revolution accelerates long-term change The return to convertibility proves to be a moving target Taking on a new role in the financial system Monetary policy after 1866: from fiscal to monetary dominance against all odds 200 years of monetary policy in pictures Two governments, one bank- the Austro-Hungarian monetary union (1878-1914) A separate note-issuing bank for Hungary? Return to a stable external value Conducting business in a large empire World War I and the collapse of monetary union (1914-1919) War preparations and the initial weeks of conflict State financing and central bank policy during the war The end of the monarchy and the joint currency Hyperinflation and a new currency (1919-1931) Hyperinflation and stabilization The League of Nations loan Central bank policy under foreign control, 1923-1929 The schilling replaces the crown The Creditanstalt crisis, the Great Depression and World War II (1931-1945) The Creditanstalt crisis Restructuring of banks Stable exchange rate, stagnating economy Liquidation of the OeNB, the reichsmark replaces the schilling Schilling reinstatement and economic miracle (1945-1971) The schilling returns Dynamics catch-up process and stability risks Austrias hard currency policy (1971-1999) The crisis of the Bretton Woods system Exchange rate policy as an anti-inflation policy Financial market liberalization, EU accession and preparations for the euro A single European currency-the OeNB as a Eurosystem central bank (1999-2016) Monetary policy may change, but the objective does not The common monetary policy, 1999 to 2015 New instruments to ensure financial stability Conclusion Currencies Notes References Sources List of tables, charts and maps Photo credits Index Acknowledgements Details ISBN3593505355 Author Hans Kernbauer Short Title QUEST FOR STABLE MONEY Pages 320 Publisher Campus Verlag Language English ISBN-10 3593505355 ISBN-13 9783593505350 Media Book Format Hardcover Year 2016 Imprint Campus Verlag Subtitle Central Banking in Austria, 1816-2016 Place of Publication Frankfurt Country of Publication Germany DEWEY 332.1109436 Publication Date 2016-09-09 UK Release Date 2016-09-09 Audience Professional & Vocational We've got this At The Nile, if you're looking for it, we've got it. With fast shipping, low prices, friendly service and well over a million items - you're bound to find what you want, at a price you'll love! 30 DAY RETURN POLICY No questions asked, 30 day returns! FREE DELIVERY No matter where you are in the UK, delivery is free. SECURE PAYMENT Peace of mind by paying through PayPal and eBay Buyer Protection TheNile_Item_ID:161772686;

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