Bretton Woods
King calls for radical shake-up to escape ‘low-growth trap’
Central bank models fail to appreciate demand-side secular stagnation; IMF could help to drive country-specific policies to reallocate resources
The IMF should adopt a ‘real SDR’
The creation of a vibrant market in SDR linked to commodity prices could create a powerful new monetary anchor, argues Warren Coats
IMF’s Adrian on the big tech threat and why a ‘non-system’ works
The IMF’s financial counsellor speaks about risks from big tech’s move into fintech, the fund’s efforts to craft well-targeted policy guidance and why the current international monetary ‘non-system’ works
The great wave: global liquidity in a turbulent world
Global imbalances are growing, and it is unclear whether the world’s institutions have enough firepower to respond to a crisis, writes Daniel Hinge
Gold accumulation after WWII driven by governors’ habits – research
Bretton Woods never worked as intended due in part to persistence of gold standard practices
Johannes Witteveen, 1921–2019
Witteveen headed IMF during one of the most turbulent periods in monetary history
The IFF China Report 2019
Insight and perspectives from the world's leaders, premier policy-makers and financiers
The IFF China Report 2019: The Belt and Road Initiative
Over the past five years, China has invested more than $70 billion in Belt and Road Initiative (BRI) countries, of which there are now in excess of 100. Leading Chinese and international policy-makers explain how BRI efforts are progressing. This section…
The Belt and Road Initiative 2019 Survey – A new driver for globalisation?
The second Belt and Road Initiative (BRI) Survey of 28 central banks reveals that they view the BRI as a major driver of globalisation, with a high percentage of respondents expecting the initiative to provide a significant boost to GDP. So far,…
The IFF China Report 2019: New globalisation – The path to the future
Multilateral rules and multilateral bodies will need to be upgraded in the coming years to better represent the shift in economic gravity towards Asia, which has emerged as the largest contributor to global growth during the past decade.
Book notes: Keeping at it, by Paul Volcker with Christine Harper
Volcker, a man who has made history, delivers a fascinating memoir, providing insights into the key lessons learned during his decades of public service, writes Jean-Claude Trichet
Regulatory efficiency or rollback?
Team USA’s new clarion call for regulatory “efficiency” comes with a worrying undertow, particularly related to regulatory rollback and ‘light-touch’ supervision of algorithms
The IFF China Report 2018: The Belt and Road Initiative
China’s signature Belt and Road Initiative (BRI) now includes 71 countries, with trillions of dollars of investment allocated. Leading Chinese and international policymakers explain how BRI efforts are progressing. This section includes an inaugural…
A route to economic growth – The Belt and Road Initiative 2018 survey
To mark the fifth anniversary of the Belt and Road Initiative (BRI), the IFF – in collaboration with Central Banking – conducted its inaugural Belt and Road Survey of central banks from more than 25 countries and regions. The survey examines BRI…
Towards a more stable monetary world order
A global network of independent central banks could act as a manager of expectations for asset and foreign exchange prices to reduce the burden of future crises, argues David Harrison
Book notes: Bretton Woods: the next 70 years
The Bretton Woods Committee has assembled a large number of distinguished authors for this volume, but ultimately the book ends up long on problems and short on solutions
Five problems with floating rate exchange regimes
Robert Aliber bemoans the dangers of sharp moves in major currencies that are the result of floating rate currency regimes, and answers five rhetorical questions related to monetary stability
Jacques de Larosière on the international monetary system and the eurozone
Central Banking’s Chris Jeffery speaks to former IMF chief Jacques de Larosière about efforts to restore the global financial system and challenges for the eurozone at the Central Banking Awards 2015
Global financial system's future hinges on China's willingness to accept emerging India
India's emergence - and China's willingness to tolerate it - will be ‘test of survival' for the global financial system in the coming years, argues Deutsche Bank report
Choosing a suitable exchange rate suitable for price-takers
Flexible exchange rates can act as an asset price as well as a price for goods and services, so movements can distort the market for goods and services. Taxing capital inflows can address the matter
Book notes: The Dollar Trap, by Eswar S Prasad
A lively and compelling analysis on currency wars in the wake of the financial crisis – and the likely persistence of the US dollar as the world’s pre-eminent currency
Two future paths for central banking
Andrew Haldane identifies two future worlds for central banks along with their implications for monetary policy, macro-prudential regulation, operations and transparency.
The international monetary ‘anti-system’
A network of systemic risk boards might improve stability in the absence of a viable international financial system, writes Jacques de Larosière.
Nowotny calls on IMF to help address global spillovers
IMF surveillance function should be further developed to help overcome negative spillovers in an increasingly inter-connected world, Austria governor says