A central bank, reserve bank, or monetary authority is the entity responsible for the monetary policy of a country or of a group of member states. It is a bank that can lend money to other banks in times of need.Its primary responsibility is to maintain the stability of the national currency and money supply, but more active duties include controlling subsidized-loan interest rates, and acting as a lender of last resort to the banking sector during times of financial crisis (private banks often being integral to the national financial system). It may also have supervisory powers, to ensure that banks and other financial institutions do not behave recklessly or fraudulently.
Most richer countries today have an "independent" central bank, that is, one which operates under rules designed to prevent political interference. Examples include the European Central Bank (ECB) and the Federal Reserve System in the United States. Some central banks are publicly owned, and others are privately owned. For example, the Reserve Bank of India is publicly owned and directly governed by the Indian government. Another example is the United States Federal Reserve, which is a quasi-public corporation.
A central bank
Wednesday, June 17, 2009,
Ashok Niroula
A Theory of Money and Banking
Ashok Niroula
We construct a simple environment that combines a limited communication friction and a limited information friction in order to generate a role for money and intermediation. We ask whether there is any reason to expect the emergence of a banking sector (i.e., institutions that combine the business of money creation with the business of intermediation). In our model the unique equilibrium is characterized, in part, by the existence of an agent that: (1) creates money (a debt instrument that circulates as a means of payment); (2) lends it out (swapping it for less liquid forms of debt); (3) is responsible for monitoring those agents in control of the capital backing the illiquid debt; and (4) collects on money loans as they come due. Furthermore, the bank money in our model is a debt instrument that embeds within it important stipulations that are found in actual private money instruments. Thus, our model goes some way in addressing the questions of why private money takes the form that it does, as well as why private money is typically supplied by banks.
domain name yahoo
Wednesday, June 10, 2009,
Ashok Niroula
domains yahoo
Yahoo Web Hosting is the web hosting service by Yahoo. It has received Editor's Choice Award by PC Magazine in 2005 for Small Business Hosting. It currently offers unlimited hosting space and unlimited data transfer for small business hostings. It offers PHP (V4.3.11), MySQL and Perl support. Related services include Yahoo Domains- domain hosting and Yahoo Merchant Solutions - e-commerce hosting.Yahoo! GeoCities is a web hosting service founded by David Bohnett and John Rezner in late 1994 as Beverly Hills Internet (BHI).
In its original form, site users selected a "city" in which to place their web pages. The "cities" were named after real cities or regions according to their content—for example, computer-related sites were placed in "SiliconValley" and those dealing with entertainment were assigned to "Hollywood"—hence the name of the site. This feature has since been abandoned; however, a number of older sites using the original "city" system still exist.
In April 2009, Yahoo announced that it will close GeoCities by the end of 2009. The site is no longer accepting new registrations.
domain name yahoo
On January 13, 2009, Yahoo! appointed Carol Bartz, former executive chairperson of Autodesk, as its new chief executive officer and a member of the board of directors.
According to Web traffic analysis companies (including Compete.com, comScore, Alexa Internet, Netcraft, and Nielsen Ratings, the domain yahoo.com attracted at least 1.575 billion visitors annually by 2008.The global network of Yahoo! websites receives 3.4 billion page views per day on average as of October 2007. It is the second most visited website in the U.S., and in the world.
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