1st Edition
Central Banking in a Post-Pandemic World Challenges, Opportunities, and Dilemmas
This book addresses the urgent need to examine central bank policies in response to the global supply and demand shock brought on by the Covid-19 pandemic, asking whether central banks are doing enough to address inequalities and concerns around climate change and emerging technologies. Adopting an interdisciplinary, critical perspective, the contributors to this volume provide novel theoretical, methodological, and empirical insights on central banks around the world, including in advanced, emerging and developing economies. The chapters in this book explore the evolution of central bank mandates, the policy tools central banks are utilizing, why and how monetary policy takes different shapes (including unconventional monetary policy), the key dynamics influencing central bank policies, how central banks are adapting to the new realities and addressing emerging challenges, and how monetary policy is perceived in the wider economic policy framework. With novel theoretical approaches and diverse empirical evidence from a variety of countries, this book will appeal to readers interested in central banking, monetary policy, the economics of the pandemic and political economy.
Introduction
Mustafa Yagci
Chapter 1 Rethinking Monetary Policy for the New Challenges: Inequality and Climate Change
Juan-Francisco Albert; Carlos Ochando
Chapter 2 Capitalist Central Banks, War Finance, and Covid
Jocelyn Pixley
Chapter 3 Central Bank Digital Currencies in the Post-pandemic Era
Dominique Torre; Qing Xu
Chapter 4 The Federal Reserve, COVID-19, and the Governance of the International Monetary System
Ayca Zayim
Chapter 5 Public Banking for a Public-Financed Post-pandemic Transition: A Proposal for a New Public Bank System in Spain
Jorge Garcia-Arias; Nuria Alonso, Eduardo Fernández-Huerga, David Trillo
Chapter 6 The Political Economy of Asset versus Consumer Inflation
Christoph Scherrer; Nora Horn
Chapter 7 The Effects of Institutional Independence on Initial Central Bank Responses to the COVID-19 Crisis
Ioannis Glinavos
Chapter 8 Open Banking on Different Sides of the Atlantic: A Comparative Study between Brazil and the United Kingdom
Vinicius Klein, Rodolfo Farias
Chapter 9 Central banking in Russia, Ukraine, and Belarus in the Face of Pandemic, War, and Sanctions
Cornelia Sahling
Chapter 10 Climate Change on the Policy Agenda of Central Banks in Central and Southeast Europe
Tatjana Jovanic
Chapter 11 Crises of Authoritarian Financialization: Monetary Policy in Hungary and Türkiye in the Polycrisis
David Karas, Pinar Donmez
Chapter 12 Diversity of Monetary Regimes and Reactions to the Covid-19 Pandemic Crisis in the Balkan Countries
Nikolay Nenovsky; Tsvetelina Marinova
Chapter 13 The PBOC in the Post-Covid World: Multitasking, Perseverance and Self-Discipline
Orhan Yazar
Chapter 14 Central Banking and the Impact of the Covid-19 Pandemic: Some Insights from Ghana
Patrick K. Tutu, Franklin Nakpodia, Geofry Areneke
Biography
Mustafa Yağcı is Assistant Professor of International Political Economy at İstinye University, İstanbul, Turkey. His research interests lie at the intersection of comparative and international political economy, political economy of development, central banking, and public policy. He has published various articles and book chapters on political economy of central banking, public policy, and international political economy. He is the editor of the book "The Political Economy of Central Banking in Emerging Economies" published by Routledge. He is the co-editor of the book "The China Puzzle: The Economic Rise of China, Transformation in International Relations, and Turkey" published in Turkish.
