Feature
What a revaluation of the renminbi could achieve
Marvin Goodfriend underlines the limits to what an appreciation of the Chinese currency would mean for the American trade deficit
Russia’s monetary dilemma
Time is running out for Russia to deal with its “problem of success”. There are three possible ways forward, writes Bill Allen
Argentina’s crippling fear of floating
Argentina’s history of crises has haunted successive generations of policymakers, argues Vladimir Werning
Colombia’s communication challenge
Lavan Mahadeva, Diana Mejía Anzola and Jose Darío Uribe Escobar outline the steps the Colombian central bank has taken in communicating with different audiences
Central banking in paradise: 25 years of the ECCB
As the Eastern Caribbean Central Bank turns 25, Blair Baker and Giancarlo Espejo reflect on the leading role it has played in building financial markets and promoting regional integration
From villains to heroes
Avinash Persaud says we should thank our lucky stars for sovereign wealth funds
Breaking the Japanese impasse
Ken Worsley assesses what the political battle over the new governor will mean for the Bank of Japan’s independence
The new face of the Bank of Japan
Masaaki Shirakawa brings a wealth of experience and a strong reputation to the top job in Japan, argues Malan Rietveld
Avoiding the deflation trap: three lessons from Japan
The Fed appears to have learned from Japanese monetary-policy mistakes of the early 1990s. But it could still find itself overwhelmed by events, argues Takeo Hoshi
Reserve management and the credit crisis
Thomas J. Jordan identifies challenges and lessons from the current market turmoil to reserve managers.
Investment bank regulation after the Bear rescue
Dwight Jaffee and Mark Perlow assess the impact of the Bear Stearns rescue and outline steps to prevent something similar happening again
Getting back on track
Jacques de Larosière analyses the problems with the originate-and-distribute model and what regulatory response is required
Early lessons from the crunch
A report on of the current debates around the credit crisis and what it could mean for the future of central banking. Edited by Robert Pringle
Value for money: Financial accountability for central banks
In this introduction to the special feature, John Mendzela explains why central banks are under increasing pressure to be financially accountable
Credit crunch – phase two
The credit crisis that started in August last year has moved into a destabilising second phase, with equity markets and the real economy looking increasingly shaky. This section analyses central banks’ response to the long-running crisis
Why Argentina did not have a currency board
The commonly held belief that Argentina ran a currency board from 1991 to 2002 is wrong, argues Steve Hanke
A match made in heaven?
Terry Beadle explains why the increasingly popular application service provider approach to IT fits central banks like a glove
Who signs the banknotes?
Most banknotes bear signatures, but who are the signatories? Åke Lönnberg explains
Legislative barriers and Northern Rock
Mervyn King’s assertion that he was “hemmed in” by legislation during the run on Northern Rock has some merits, argues Charles Proctor
Sovereign wealth meets poverty in China
Matt Sekerke questions Chinese officials’ captivation with the glamour of international financial markets
A liability-based approach to sovereign wealth
Andrew Rozanov suggests that focussing on the liability profile of sovereign wealth funds is a useful way to understand their objectives and likely behaviour
The rising financial power of emerging markets
Jacques de Larosière puts the rising financial power of emerging markets in perspective and considers the implications for the international monetary system
Into the limelight
Malan Rietveld looks at the dramatic penetration into the heart of the Western financial system by sovereign investors from emerging markets in recent months