Feature
Data and the crisis: gaps, initiatives and challenges
The crisis has highlighted a number of holes in financial data. Much has already done to plug them, writes Alfredo Leone.
Underpinning systemic stability - the case for standards
Measures designed to make the financial system safer may not achieve their aim. There is a better way, Sir Andrew Large and Sir David Walker argue
The StabFund: a look at the inner workings of a 'bad bank'
Marcel Zimmermann and Zoltan Szelyes explain how the Swiss National Bank managed to strengthen the country’s largest financial institution at the height of the crisis by creating a bad bank.
Communicating macroprudential policy
A sound communications strategy can enhance the impact of macroprudential policy actions and build the political support needed for such steps, Tim Ng writes
The unintended consequences of the new prudential framework
The new regulatory code could have some dangerous side effects, Jacques de Larosière writes
Conflicts of interest and systemic risk
In regulating against conflicts of interest, central bankers will have to study exactly how each major bank is making its profits in future, John Chown argues
Are CoCos from cloud cuckoo-land?
The rationale for requiring banks to hold contingent capital is right. However, the mechanics of their operation and market implications may be subject to doubt, argues Charles Goodhart.
Welcome to Twin Peaks
The decision by the British government to adopt the Twin Peaks model of financial regulation represents a significant turnaround in the Bank of England’s political fortunes, writes Michael Taylor.
Tokyo story
Robert Pringle reports from Tokyo on how the crisis has impacted Japan’s outlook.
Why monetary base control can offer stability
There is a way of replicating the big achievements of the gold standard without going back to gold, argue Brendan Brown and Robert Pringle.
Why attitudes to gold have changed
Jill Leyland investigates why the events of recent years, in particular the financial crisis, have tipped the balance away from net official sector selling towards net buying of gold.
Politics is hampering national wealth management
Poor communication and differing incentives between politicians and national wealth managers are undermining performance, argues Gary Smith.
Rethinking reserve management
The crisis demands a rethink on both the size and composition of central banks’ reserves, argues Ludek Niedermayer.
How Ireland is reforming its central bank
A change of leadership offers Ireland’s central bank an opportunity to assert its independence from the country’s much maligned political and banking elite. It is doing much to grasp it, Claire Jones finds.
Preventing system failure
A model borrowed from ecology offers new insights for policymakers in how to understand and combat systemic risk, writes Claire Jones.
When experts fail: a response and reply
Michael Taylor comments on the argument set out by Frank Vibert in the February edition of Central Banking journal, to which Vibert in turn replies
Surveying inflation credibility
Jannie Rossouw, Vishnu Padayachee and Fanie Joubert compare the methodologies of inflation credibility surveys conducted in New Zealand, South Africa and Sweden
Policy forecasts: a new frontier in communication
Jakob de Haan weighs up the pros and cons for central banks considering publishing interest rate paths
Official-sector balance sheets after the crisis
In the third of Central Banking’s web seminar series, Daniel Gros, Ken Wattret and Tim Young discussed how official sector balance sheets have changed, the new challenges policymakers face and how to overcome them
The case for reserve currency competition
A competitive market for reserve currencies would help remove global imbalances, says Ousmène Mandeng
A future for the SDR?
Richard Cooper looks at whether the SDR could substitute for the dollar as a global reserve currency
Follow the money
Monetary aggregates are set for a comeback in central banking, but as indicators of financial instability, not inflation. Claire Jones reports
Lessons from the crisis for monetary policy
As central bankers discuss the future of the monetary policy framework, Robert Pringle puts the debate in a wider context and raises some questions about the emerging new consensus
A return to complexity: economic policy after the crisis
The crisis has challenged the fundamentals of the prevailing macroeconomic orthodoxy. Policymakers must recognise this and adopt new frameworks accordingly, Sir John Gieve argues