Monetary Policy - Evolution and Tools of Central Banking

This lecture examines the origins and evolution of central banking in the United Kingdom and United States, including the founding and independence of the Federal Reserve. It explains monetary policy tools, reserve and capital requirements, Basel III, and regulatory approaches to preventing banking crises.

Syllabus

- Chapter 1. The Origins of Central Banking: The Bank of England.
- Chapter 2. The Suffolk System and the National Banking Era in the U.S..
- Chapter 3. The Founding of the Federal Reserve System.
- Chapter 4. The Move to Make Central Banks Independent.
- Chapter 5. U.S. Monetary Policy: Federal Funds Rate and Reserve Requirements.
- Chapter 6. Capital Requirements, Basel III and Rating Agencies.
- Chapter 7. Capital Requirements and Reserve Requirements in the Context of a Simple Example.
- Chapter 8. Capital Requirements to Stabilize the Financial System in Crisis Times.