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Introduction

In: Asset Management at Central Banks and Monetary Authorities

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  • Jacob Bjorheim

    (University of Zurich)

Abstract

Central banks and monetary authorities are public sector institutions, established by law, and given specific mandates to fulfill. Of these mandates, monetary policy is the primitive. It is conducted to keep the real economy growing, level of employment high, long-term interest rates moderate, inflation low, and the financial system stable. Everything else the central bank does is subsumed under this monetary policy mandate.

Suggested Citation

  • Jacob Bjorheim, 2020. "Introduction," Springer Books, in: Jacob Bjorheim (ed.), Asset Management at Central Banks and Monetary Authorities, edition 1, chapter 0, pages 1-14, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-43457-1_1
    DOI: 10.1007/978-3-030-43457-1_1
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