Monetary aggregates
An assessment of the ECB’s strategy review
Aspects of the framework raise challenges for implementation and credibility, while climate change inclusion may politicise the institution
Charles Goodhart on inflation targets, financial stability and the role of money
LSE professor says AIT a mistake, independence under threat amid inflation surge and climate stress tests unconvincing
Book notes: Money, by Geoffrey Ingham
The incompatible theories of money: Ingham reveals the fundamental clash of ideas
Podcast: Cleveland Fed director on all things inflation and Covid-19
Robert Rich discusses money supply growth and muted inflation, plus new Fed research
BIS paper studies early form of macro-pru policy
Dutch controls on credit from 1960s to 1990s helped promote stability, authors find
Iran’s race towards monetary policy reform faces high hurdle reality
Majlis’s Tohid Atashbar writes that the central bank’s new inflation targeting approach may struggle to deliver
High US inflation should not be ruled out
A prolonged health crisis raises the risk that hidden inflationary pressures could be stoked
Inflation targets back in the spotlight
Monetary policy can do little to offset impact of Covid-19
Lifetime achievement award: Otmar Issing
Architect of euro’s framework still playing important role in shaping debate on monetary policy
Bank of Jamaica should ‘modernise’ regulatory framework – IMF
Fund’s recommendations follow completion of country’s second consecutive support programme
Hidden money creation is impacting policy, PBoC economist warns
“Banks’ shadow” hampers monetary and financial stability policy, Guofeng Sun says
Argentina sharply raises key rate floor to tackle rising inflation
Political uncertainty has boosted inflation since mid-August
BoE paper models exchange rates with private money creation
Uncovered interest parity does a poor job of explaining exchange rates on its own, authors say
BoJ ‘will not hesitate’ to ease further if risks crystallise
Central bank adopts dovish outlook, amid “significant” risks to economic activity and prices
Do stablecoins like libra differ from other crypto assets?
Sayuri Shirai assesses the implications of stablecoins for stability, monetary policy and regulation
Fed’s floor could be ‘junked’ if credit surges – Goodhart
Credit demand and plentiful liquidity could be potent inflationary mix, Charles Goodhart says
Are central bank digital currencies inevitable?
Launching a CBDC could protect the pre-eminence of public money, a new report argues
BoE economists find CBDC could permit helicopter money
Helicopter drop could be feasible without losing control of rates but may still be unwise, authors say
Fed officials reveal further details of balance sheet plans
Fed discusses letting assets fall off its balance sheet at the same pace as economic expansion
Central Bank of Iran may be forced to print money to pay government
Governor warns lawmakers that forcing CBI to pay monthly dividend is unwise
BIS’s Borio calls on economists to take money more seriously
Money is too often explored in isolation, or ignored completely, the BIS economist says
Angola improves data transparency with new hub
Statistics deemed “critical” by the International Monetary Fund will be published in one place
Oxford academic argues Milton Friedman is misunderstood
James Forder says Friedman had a bigger impact on neoclassical economics than on monetarism
Money matters for macro fluctuations – Fed paper
Working paper says previous research by Schularick and Taylor may have been flawed