News from Cass Business School

New book about the evolution of central banks edited by Cass Professor

Friday, 18 September, 2009

Cass Professor Geoffrey Wood has co-edited a new book, Designing Central Banks which investigates how and why central banks evolved and focuses on the special contribution of the Northern European Central Banking Tradition.

As well as looking at the history of central banks, the book also highlights contemporary themes such as independence, how central banks can actually influence their respective economies, goals, responsibilities and governance.

The book is a collection of papers, formulated from the joint conference of the Bank of Finland and the Deutsche Bundesbank in November 2007, and aims to help motivate continuing research into the institutional design of central banks and promote a better understanding of the many challenges central banks are facing today.

This volume gives a detailed perspective on the benefits of price stability and central bank independence and, due to the advances in macroeconomic theory, has prompted a substantial rethink on central banks' institutional design.

As well as co-editing the book, Professor Wood also contributes to five chapters and other contributions were also made by Cass Professors David Blake and Forrest Capie. The book also features a foreword by well-known scholars Erkki Liikanen and Professor Axel A Weber.  This book is aimed at monetary economists as well as all those with an interest in central banks and banking more generally.

To purchase your copy please visit:

Share this article