000			01996nam a22002057a 4500
005			20250807174935.0
008			250807b |||||||| |||| 00| 0 eng d
020			_a9781503639621
082			_a332.11 _bWUL
100			_aWullweber, Joscha _921238
245			_aCentral bank capitalism: _bmonetary policy in times of crisis
260			_bStanford University Press _aCalifornia _c2024
300			_axviii, 236 p.
365			_aUSD _b26.00
520			_aToday's global financial system bears little resemblance to what it was at the end of the twentieth century. Shadow banking—financial activity taking place outside existing regulatory frameworks—has grown so important that it now serves as the backbone of the entire system. The shadow banking system, however, is highly unstable and the main reason why the financial system has remained in crisis mode since the 2008 financial crisis. To maintain stability, central banks like the Fed and the European Central Bank have come to use radical new monetary policy instruments which were inconceivable until very recently. Without intervention on the part of central banks, existing financial systems would completely collapse. As Joscha Wullweber shows, there has been a radical change in the state-market nexus. With governments refraining from strong and comprehensive fiscal and financial regulatory policies, central banks have become the main stabilizing force and the nodal point of financial circulation. These overburdened institutions are called on to make near-daily interventions to avert crisis. Wullweber calls this historic phase central bank capitalism. His book offers a lucid account of our current state of permanent crisis with its new dilemmas and paradoxes that pose enormous challenges to financial and economic stability. (https://www.sup.org/books/politics/central-bank-capitalism)
650			_aMonetary policy
650			_aBanks and banking, central
650			_aInternational finance
942			_cBK _2ddc
999			_c10116 _d10116