Governing the future: the European Central Bank’s expectation management during the Great Moderation
Governing the future: the European Central Bank’s expectation management during the Great Moderation
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治理未来：大稳健时期欧洲央行的预期管理
DOI：
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发表时间：
2015
期刊：
影响因子：
--
通讯作者：
Benjamin Braun
中科院分区：
文献类型：
--
作者：
Benjamin Braun
摘要全球金融危机的经历重新激发了人们对未来性在资本主义经济中的作用的兴趣，特别是在不确定性下预期的形成和协调。经济社会学家仔细研究了私人行为者设计的“去未来化”技术，但往往忽视了中央银行发挥的日益关键的作用。政治经济学家对中央银行有更多的看法，但他们关注的是制度问题，而不是中央银行的具体做法。这两个文献的原创性贡献，本文追溯了建设和随后的演变，到2007年，欧洲中央银行的通信设备。根据官方文件以及对欧洲央行工作人员和市场参与者的采访，本文展示了这一机构如何为私营部门预期的形成和协调创造条件。从实证分析的见解到货币治理中的“信誉”和“知识”的表演维度，直接有助于正在进行的辩论，最近通过前瞻性指导和量化宽松的欧洲央行的沟通机构的扩展。
Abstract The experience of the global financial crisis has sparked renewed interest in the role of futurity in the capitalist economy in general and in the formation and coordination of expectations under uncertainty in particular. Economic sociologists have carefully studied the ‘defuturizing’ technologies devised by private actors, but have tended to neglect the increasingly pivotal part played by central banks. Political economists have had more to say on central banks, but have focused on institutional issues rather than on the concrete practices of central banking. Making an original contribution to both literatures, this paper traces the construction and subsequent evolution, up to 2007, of the European Central Bank’s communicative apparatus. Drawing on official documents and on interviews with both ECB staff and market participants, the paper shows how this apparatus created the conditions for the formation and coordination of private sector expectations. The insights from this empirical analysis into the performative dimensions of ‘credibility’ and ‘knowledge’ in monetary governance contribute directly to ongoing debates about the recent extension of the ECB’s communicative apparatus through forward guidance and quantitative easing.
全球货币市场的专业文化
DOI：
10.4324/9780203770993
发表时间：
2013
期刊：
影响因子：
--
作者：
Wansleben
通讯作者：
Wansleben
金融市场的知识生产：信用违约互换、ABX 和次贷危机
影响因子：
3.4
作者：
MacKenzie D
通讯作者：
MacKenzie D