Bretton Woods
Book notes: The economic government of the world 1933–2023, by Martin Daunton
A deep dive into the politics, personalities, trade theory and trade practice of the era, but missing a crucial element: the collapse in the US stock of money
Book notes: Economists in the cold war, by Alan Bollard
A geographically balanced review of key economists that shaped the world economy
Book notes: Bold vision, by Freddy Orchard
Largely uncritical insights about the formation of the GIC and Singapore’s currency regime
Malpass says debt relief critical for poor countries
World Bank president says world risks “disorderly default process”
Ukraine: the challenges for central banks
Rules on the weaponisation of money would help to protect a ‘public good’ amid geopolitical splits in a testing environment for central banks, write Gavin Bingham, Paul Fisher and Andrew Large
Book notes: Harry White and the American creed, by James Boughton
This book offers a deeper understanding of the IMF founder, but fails to resolve espionage charges
Book notes: Imagining the Fed, by Nicolas Thompson
Worthwhile take on institution’s evolution – shame that examination isn’t longer and broader
Protecting international standard-setting despite the resurgence of politics
Andreas Dombret, global senior adviser, and Oliver Wünsch, partner, at Oliver Wyman, describe the importance of international standard-setting amid increasing political interference.
Book notes: Robert Triffin, by Ivo Maes with Ilaria Pasotti
Triffin’s story is well told by Maes, whose extensive personal and academic research shines through
The IMF’s $650bn SDR allocation and a future ‘digital SDR’
Focus is needed on widening SDR use in payments, to support a large allocation of ‘official’ IMF SDRs
Expecting the unexpected
Lars Schröder, senior engagement manager at SkySparc, looks at what is driving shifts in central banks’ technology requirements.
‘Giant of the field’ Robert Mundell dies
The Nobel laureate influenced a generation of economists via the Mundell-Fleming model
Book notes: The political economy of the special relationship, by Jeremy Green
Unsatisfactory story about the decline and resurgence of the UK’s importance in the global financial system
How gold has regained its shine
In a year of exceptional circumstances – especially true for gold, which, in August, saw an all-time high price – Invesco explores how pandemic-driven uncertainty has returned the precious metal to the spotlight of the global monetary system.
BIS could play renewed role amid Covid crisis, scholar says
Fed’s role in dealing with Covid-19’s international effects has parallels with 1960s, historian argues
An end to the loveless marriage with the US dollar?
Covid-19 represents an unexpected shock that could cause further US dollar decoupling
Fears rise over breakdown in Basel and IFRS standards
Bretton Woods institutions worried about growing divergence in capital and accounting rules
The complex art of reserve management
Lockdown represents another inflection point for central banks managing $12 trillion in FX reserves
Crises enliven ‘totalitarian temptations’
Coronavirus pandemic will embolden government ‘power grabs’
Major economies already engaging in ‘currency wars’ – former IMF chief
De Larosière floats new commodity-based exchange rate regime
Monetary policy is not ‘impotent’ – BoE’s Broadbent
Scepticism is “overdone” and may encourage inaction, deputy governor says
Payments and market infrastructure development: European Central Bank
ECB has created framework to help PMI firms bolster cyber defence, being disseminated globally
Paul Volcker, 1927–2019
Fed chair made his name battling inflation, and left his mark on independence and post-crisis financial regulations