Financial Stability News

Flashing news about financial stability and central banking

Rethinking central banking

Brooking has just issued an interesting report called Rethinking Central Banking. They want a fundamental rethink of the current IT paradigm and more coordination among the systemically important central banks. The report is short (35 p.) and well worth a read. They challenge the prevailing opinion on money neutrality and efficient markets, but do not present a new coherent theoretical picture. For some comments see my own reaction to the report at the “Multiplier blog” at http://www.levy.org

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