Central Banking Journal
Book notes: The other half of macroeconomics, by Richard Koo
Richard Koo questions whether central bank policy can work during a balance sheet recession, writes Graham Bannock
Juan José Echavarría on Colombia’s path to sounder monetary and economic policy
The governor of the Central Bank of Colombia talks about policy efforts to promote stability, the importance of independent institutions and the implications of Venezuela’s economic collapse
The Bank of England’s missing records
Central banks need to implement robust archiving frameworks, should they want to maintain public trust and learn from the lessons of the past, writes former Bank of England official historian Forrest Capie
Book notes: Capitalism without capital, by Jonathan Haskel and Stian Westlake
The authors have created a compelling framework to characterise and explain the nature of intangible investments in our economies, writes Michael Reddell, but their conclusions are lacking in analysis and data
Book notes: Digital human, by Chris Skinner
Skinner provides a valuable insight into the challenges banks face as technology continues to permeate further into the financial industry
The battle for cyber resilience
The cyber attack on Bangladesh Bank prompted central banks around the world to change their approach and refocus on contingency planning, but are they ready now?
James Bullard on 2% rates, tariffs and Fed leadership
The president of the Federal Reserve Bank of St Louis speaks about the impact of US trade policies, the disruption to the banking industry from Silicon Valley, shrinking the Fed balance sheet and the potential for agent-based modelling
The perilous road to normality
Many central banks are starting to tighten policy, but their room for error is limited and their final destination unclear. What more can they do?
Big data in central banks focus report 2018
The third Central Banking big data focus report delves further into recent trends as central banks grapple with the question of upgrading their approaches to data
Data handling – A rethink
Official institutions are maturing as big data users but there is plenty more work to be done.
Putting big data into action
Big data is changing the way central banks think about the economy and oversee the financial system. In a forum sponsored by BearingPoint, Central Banking convened a panel of experts to discuss the innovative ways central banks are making use of big data.
Book notes: Till Time’s Last Sand, by David Kynaston
Kynaston allows readers to develop their own understanding of how the BoE has had to refind its place in a country where the political system has migrated from commercial republic to full-franchise democracy
Turning data challenges into opportunities
With central banks becoming increasingly reliant on data, BearingPoint elaborates on the increasing role of innovative regulatory and supervisory technology in supervision.
Big data in central banks: 2018 survey results
As work in big data enters the mainstream for central banks, its policymaking and supervisory influence is expanding, prompting significant investment in new technologies.
Suptech: More than just a new name for solving an old problem
The global financial crisis sparked a far-ranging overhaul of the international architecture for financial regulation, coupled with a deep reflection around the fitness-for-purpose and effectiveness of supervisory efforts, writes Anne Leslie-Bini.
Switzerland’s Jordan on extraordinary monetary policy and sovereign money
The Swiss National Bank governor speaks about currency intervention, negative rates, sovereign money and the diversification of reserves
Capitalising on regtech
Regulatory technology could prove effective in improving data reporting and supervisory monitoring, but central banks have a long way to go to making this a reality, writes Joel Clark.
A real-time payments revolution in Asia
Asian central banks have encouraged the development of instant payment systems to defend monetary policy transmission and counter cryptocurrency usage
The data commons: Taking big data global
The International Monetary Fund’s first-ever overarching strategy on data aims to spread big data expertise among fund members. Louis Marc Ducharme discusses the upcoming challenges.
Book notes: American default, by Sebastian Edwards
Edwards’ book is fascinating, well written and enjoyable, and provides an account of one of the US’s forgotten chapters of history
Is the pursuit of a common accounting standard for monetary gold a fool’s errand?
More consistent accounting for monetary gold could address transparency concerns and help smaller emerging economies to achieve greater independence by clarifying treasury transfers
Book notes: Unfinished business, by Tamim Bayoumi
Anand Sinha praises Bayoumi’s analysis of how the euro crisis and US housing crash were, in fact, intertwined
Book notes: China’s Great Wall of Debt, by Dinny McMahon
McMahon is too pessimistic about the chances of China managing to get its great wall of debt under control, writes Michael Taylor, but he is undoubtedly right about the scale of the challenge
Bank of Jamaica’s Wynter on the path to inflation targeting
Bank of Jamaica’s governor talks about revamping accountability, communications and operations as the central bank embraces inflation targeting