Feature
From the frying pan to the fire
Emerging markets are feeling the pain of the credit crunch. But some are better placed to deal with the consequences, says Barry Eichengreen
How to unblock the credit markets
Cutting interest rates is increasingly ineffective. Central banks need to create market-making windows, argues Ronald McKinnon
How to incentivise the financial system
Robert E. Wright argues that regulators – and those they oversee – need better incentives for prudent behaviour
Three essential questions for reforming finance
Barack Obama should appoint a commission to investigate what went wrong and guard against quick fixes, says Eugene White
Why Europe needs a Financial Stability Fund
Investors need assurances over the debt of European Union member countries, Daniel Gros and Stefano Micossi argue
Shell shocked: American finance in crisis
A legislative overhaul is coming. Robert Litan says a renewed focus on market discipline and the consolidation of regulatory authority are the priorities
New tools for central bankers?
The financial crisis has provided an opportunity to test the usefulness of new and previously unused policy instruments, argues Christopher Ragan
Forum: Tackling asset-price bubbles
Central Banking asked a select panel of former central bankers and advisors if the current crisis calls for a reevaluation of the policy response to asset prices
Obama builds formidable team
Malan Rietveld looks at the new economic brains trust in America and the challenges it will face.
A chronology of the crisis
A month-by-month account of the greatest banking crisis since the Great Depression
Obama builds formidable team
Malan Rietveld looks at the new economic brains trust in America and the challenges it will face
The transmission of liquidity shocks during the crisis
The latest research suggests the emergence of new channels through which liquidity shocks were transmitted
The wider benefits of assistance
Juliet Johnson suggests that assistance to post-communist central banks by their Western counterparts resulted in closer links between central bankers more generally
A sunny outlook for the Cayman Islands
Warren Coats surveys the contribution of the Cayman Islands Monetary Authority to the enhancement of the island economy’s reputation
Towards a new financial system
Dino Kos identifies the likely changes to the global financial system in light of the credit crunch
Why Bulgaria needs a managed float
Sofia’s currency board is no longer sustainable, argues Ivan Angelov
Bagehot revisited
The credit crisis has underlined the limited effectiveness of central banks’ lender-of-last-resort function, argues Bruce White
Why the American economy needs fiscal assistance
For all its activism, the Fed cannot address the persistent imbalances in the American economy on its own, says John Balder
Getting the policy mix right
Policymakers should pay greater attention to the links between liquidity and capital, says Glenn Hubbard
Turmoil in the Basel tower
The handling of the resignation of Malcolm Knight was badly bungled, says Klaus Engelen
Draghi prepares to slim down
The Bank of Italy finds resistance from its staff and labour unions, but insists it will push ahead with controversial reforms. Isabella Bufacchi reports
Obamanomics vs McCainomics
Malan Rietveld looks at the possible economic policies and key appointments of the two presidential candidates in America
Inside Beijing’s power struggle
Having seized the early initiative in Beijing’s anti-inflation strategy, the People’s Bank of China has seen its authority increasingly challenged, argues Hui Feng
Light in Gaza
Jihad Alwazir, the governor of the Palestine Monetary Authority, tells Claire Jones how the central bank is reforming the state’s banking sector and why the institution needs to be a “jack of all trades”