Currencies, Capital, and Central Bank Balances

Drawing from their 2018 conference, the Hoover Institution brings together leading academics and monetary policy makers to share ideas about the practical issues facing central banks today. The expert contributors discuss U.S. monetary policy at individual central banks and reform of the international monetary and financial system-issues very much related because of the large effect of balance sheet operations on exchange rates and capital flows. The discussion is broken down into seven key areas: 1) International Rules of the Monetary Game2) Banking, Trade and the Making of the Dominant Currency3) Capital Flows, the IMF’s Institutional View and Alternatives4) Payments, Credit and Asset Prices5) Financial Stability, Regulations and the Balance Sheet6) The Future of the Central Bank Balance Sheet7) Monetary Policy and Reform in Practice.With in-depth discussions of the volatility of capital flows and exchange rates, and the use of balance sheet policy by central banks, they examine relevant research developments and debate policy options.