Book reviews
Book notes: The art of monetary policy, by Kristin Forbes
The message that effective monetary policy-making requires judgement, flexibility and realism alongside technical expertise is both persuasive and highly relevant
Book notes: Can Europe survive? By David Marsh
Marsh poses important questions and cannot be blamed for failing to produce a roadmap to continental salvation
Book notes: The doom loop, by Eswar S Prasad
A persuasive analysis of a new world disorder that will bring an end to central bank independence
Book notes: Before the Fed, by Jon Moen and Mary Tone Rodgers
A significant contribution to understanding private-sector financial crisis responses, relevant to today’s lender-of-last-resort function
Book notes: 1929: the inside story, by Andrew Ross Sorkin
A compelling narrative offering fresh perspectives on the key characters, events and implications of the great crash
Book notes: The London Consensus, by Tim Besley, Irene Bucelli and Andrés Velasco
The authors set out guidelines to address shortcomings linked to the Washington consensus, but implementation will be a challenge
Book notes: Money in crisis, by Ignazio Angeloni and Daniel Gros
This book should be essential reading for policy-makers at a time of uncertainty and technological change
Book notes: Crisis cycle, by John H Cochrane, Luis Garicano and Klaus Masuch
This book ought to be read by anyone with an interest in or influence on the future development of the Emu
Book notes: Bankers’ trust, by Aditi Sahasrabuddhe
A novel investigation into how trust among central bankers – or lack thereof – helped and worsened crises of the past
Book notes: Private finance, public power, Peter Conti-Brown and Sean H Vanatta
A detailed history of bank supervision in the United States from 1789 to 1980
Book notes: King dollar, by Paul Blustein
A well-researched overview of the position of the US currency, providing an optimistic view on the future of ‘king dollar’.
Book notes: How low interest rates change the world, by Jesper Rangvid
This book investigates the possible causes of ultra-low interest rates, the problems low rates cause and the path of future rates
Book notes: Inflation, by Mark Blyth and Nicolò Fraccaroli
An accessible explainer about the narratives surrounding inflation – and who it benefits
Book notes: Making money work, by Matt Sekerke and Steve H Hanke
This book provides a critique of the post-crisis monetary and financial system, proposing changes that deserve to be broadly read
Book notes: Beyond banks, by Dan Awrey
The book proposes thoughtful reforms to establish the same reliability for new monetary IOUs as currently exists for bank IOUs
Book notes: Central banking at the frontier, by Thammarak Moenjak
This well-structured book provides a comprehensive overview of the challenges digitalisation poses for finance and includes possible actions for central banks
Book notes: The young Fed, by Mark Carlson
A thoughtful book on an important topic and a less widely studied period of US financial history from which every central bank economist could learn
Book notes: Our dollar, your problem, by Kenneth Rogoff
An excellent overview of the evolution of the world economy during the last seven decades, and a warning against complacency
Book notes: The measure of progress: counting what really matters, by Diane Coyle
The book offers important insights into national income data compilation that are frequently ignored by economists
Book notes: The political economy of central banking, by Alessandro Roselli
Roselli’s book offers a comprehensive history of the relationship between governments and central banks
Book notes: Smart money: how digital currencies will win the new Cold War, by Brunello Rosa with Casey Larsen
This alarmist book, although lacking nuance, provides a lucid account of how CBDCs could play a decisive role in geopolitical dominance