Theoretical perspectives on the new era of central banking. Issue 4 (December 2018)

• Record Type: Journal Article
• Authors: Fontan, Clément; Carré, Emmanuel; L'Oeillet, Guillaume
• Is Part Of: French politics. Volume 16:Issue 4(2018)
• Page Start: 453
• Page End: 470
• Publication Date: 2018-12
• Subjects: Central banking -- Financial crisis -- Monetary policy -- Financial supervision -- Political economy; France -- Politics and government -- 1945- -- Periodicals; France -- Social conditions -- 1945-1995 -- Periodicals; France -- Social conditions -- 1995- -- Periodicals; France -- Foreign relations -- Periodicals; 320.04405
• DOI: 10.1057/s41253-018-0067-8
• Languages: English
• ISSNs: 1476-3419

Abstract

Abstract The role played by central banks in our economies has changed drastically since 2007, when they became key players in the stabilisation of financial and economic systems. In addition to gaining new competences, their policies strayed increasingly into the political realm and became more controversial. This new era of central banking has revived scholarly debates and vibrant future research perspectives on both dimensions of their independence: towards political and financial institutions. In this article, we review the theoretical debates between economists, political scientists, economic sociologists, and political philosophers on this issue.