Since the beginning of the financial crisis in 2007, the study of central banking has witnessed something of a revival. This is no surprise, as the policy tenets commonly held by central banks before the crisis have come under scrutiny. Central banks have shared the blame for not having foreseen or prevented the crisis. At the same time, the policy responses of central banks - and governments - once the crisis did break, have been contrasted, usually favourably, to their (mis)handling of the Great Depression of the 1930s. Negatively or positively, central banks are back in the limelight.
展开▼
