Abstract
The origin and use of the term “central bank” dates back, in academic literature (Wicksell, Keynes), to the early 1900s. However, the use of the term by dealers, politicians and in legislation is much more recent. A central bank is defined as the “bank of banks”, the “Treasury bank” and finally as the “bank for the economy’s external sector”, i.e., the institution charged with looking after a country’s foreign currency reserves.
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© 1996 Palgrave Macmillan, a division of Macmillan Publishers Limited
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Fazio, A. (1996). The Central Bank and Monetary Policy. In: Baldassarri, M., Imbriani, C., Salvatore, D. (eds) The International System between New Integration and Neo-Protectionism. Central Issues in Contemporary Economic Theory and Policy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-24664-9_6
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DOI: https://doi.org/10.1007/978-1-349-24664-9_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-24666-3
Online ISBN: 978-1-349-24664-9
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