Economics in Central Banking: Claudio Borio

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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