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Title:PRIHODNOST CENTRALNEGA BANČNIŠTVA
Authors:ID Ceraj, Kristjan (Author)
ID Taškar Beloglavec, Sabina (Mentor) More about this mentor... New window
Files:.pdf VS_Ceraj_Kristjan_2014.pdf (445,39 KB)
MD5: 35E78135146C04E3C207CFB02B8E59B0
 
Language:Slovenian
Work type:Final seminar paper
Typology:2.11 - Undergraduate Thesis
Organization:EPF - Faculty of Business and Economics
Abstract:Pri odzivu na grožnje gospodarskih in finančnih pogojev so centralni bančniki odigrali ključno vlogo pri premagovanju ekstremnih tržnih nepopolnosti in zagotavljanje stabilnosti svetovnem gospodarstvu. Ampak so se z drugimi oblikovalci politike znašli dlje iz svojih običajnih operativnih zon. Prisiljeni so v vedno več eksperimentiranja z bolj negotovimi dolgoročnimi izidi. Globlje kot so prisiljeni pristopiti s političnim eksperimentiranjem, večja je verjetnost, da bodo pričakovane koristi preobremenjene s kolateralno škodo in nepredvidljivimi posledicami na nacionalni ravni. Poleg tega, kar se zdi nujno potrebno na domačem trgu, je težje uskladiti na svetovni ravni. Zato je bistvenega pomena, da trenutna faza nenavadnega centralno bančnega aktivizma daje prednost bolj celostnem odzivu politiki. Tistemu, ki vključuje druge oblikovalce politike z neposrednimi orodji za izboljšanje dejanske rasti, povečanju zmogljivosti rasti, premagovanju dolžniške situacije, izboljšanju delovanja trga dela in obnovitvi ustreznega sistema stanovanjskih financ. Vse to vodi v precej neprijeten zaključek. Prihodnost kredibilnosti in učinkovitosti centralnih bank ni več samo v rokah teh inštitucij. Namesto tega so odvisni od drugih organov, ki prevzemajo svojo odgovornost za posamezne politike. Upajmo, da se to dejansko uresniči.
Keywords:Centralno bančništvo, kredibilnost, regulacija, inflacijsko ciljanje, nekonvencionalni modeli, moderno centralno bančništvo.
Place of publishing:Sela
Publisher:[K. Ceraj]
Year of publishing:2014
PID:20.500.12556/DKUM-45714 New window
UDC:336.71
COBISS.SI-ID:11830812 New window
NUK URN:URN:SI:UM:DK:QDP8WLFL
Publication date in DKUM:28.10.2014
Views:1525
Downloads:126
Metadata:XML DC-XML DC-RDF
Categories:EPF
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Secondary language

Language:English
Title:THE FUTURE OF BANKING
Abstract:Responding to threatening economic and financial conditions, central bankers have played a critical role in overcoming extreme market failures and ensuring the wellbeing of the global economy. But with other policymakers essentially missing in action, they have found themselves pushed further and further away from their operational comfort zones, forced into ever more experimentation with increasingly uncertain longer-term outcomes. The deeper they are forced to venture into the current experimental policy approach, the greater the likelihood that the expected benefits will be overwhelmed by collateral damage and unintended consequences at the national level. Moreover, what appears necessary domestically is proving more difficult to reconcile at the global level.It is therefore critical that the current phase of unusual central-bank activism give way to a more holistic policy response; and one that involves other policymakers with direct tools to enhance actual growth, increase growth capacity, overcome debt overhangs, improve labour-market functioning, and restore a proper system of housing finance. All this leads to a rather discomforting conclusion. The future credibility and effectiveness of central banks are no longer in the hands of these institutions. Instead, they depend on others stepping up to their policy responsibilities. Let us all hope that this indeed materialises.
Keywords:Central banking, credibility, regulation, inflation targeting, unconventional models, modern central banking.


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