Economics in Central Banking: Claudio Borio

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Claudio Borio

Like all academic subjects, macroeconomics advances incrementally and in many directions at once. The past year has seen major papers published on topics including the renminbi as a reserve currency, central banks ‘leaning against the wind’, scrapping paper money or dropping it from helicopters, rules-based monetary policy, reform to the Federal Reserve and many more. Such diversity makes it challenging to choose a single winner for Central Banking’s inaugural economics award.

However, one

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