Feature/Financial Stability
Trapped by the international dollar standard
The three following articles raise troubling questions about the world economy. Here, Ronald McKinnon argues that America’s addiction to deficits distorts the world system.
News Analysis: News in debt
Paul Brione reports on controversial trades, very long bonds and over-issuance in sovereign debt markets.
Revolution in Kyrgyzstan
Robert Pringle recounts how central bank leadership averted a banking panic in Bishek.
A framework for financial stability
Five questions must be answered by those looking for a way to formulate policy in financial stability, says Andrew Haldane.
Lessons learned from outsourcing at Norges Bank
Can a central bank outsource IT services that are systemically important? Semming Austin recounts the approach taken by Norges Bank.
IT systems in smaller central banks
Central bank IT cannot stand still, but limited resources mean smaller institutions must plan carefully, says Terry Beadle.
Central banking on the move
Michael Yorke and Jeff Klein describe how advances in mobile computing can meet the needs of today’s central banks.
Central banking joins the internet age
The internet provides opportunities – but also risks – for central bank services. The authors explain how the Bank of Japan moved over to the net.
Effective IT with limited resources
IT departments in small central banks face particular challenges in providing services. Jennifer Greaves sets out how they can be met.
Iraq’s central bank: in search of a raison d’être
Iraq’s underdeveloped financial markets make it impossible for the central bank to fulfil its mandate argue Matt Sekerke and Steve H. Hanke.
Research on financial stability
This article reviews recent developments in some of the most promising areas of academic research related to financial stability.
The pursuit of financial stability – an outside view
A two-part survey of central banks’ work in financial stability – the first article offers a critical assessment, the second an overview of current policy-oriented research. By Robert Pringle.
A precarious prosperity
Central Banking reviews a new guide to London’s financial centre.
The role of central bank capital
A new ECB paper provides a theoretical underpinning to the case for central banks to hold adequate capital. An assessment by Paul Brione.
Ronald Reagan: champion of monetarism
President Reagan should get more credit for ending the Great Inflation, argues John Tatom.
Gentlemen prefer bonds
Nick Carver looks at one way Asian central banks could boost local debt markets.
Asia’s currency in the making?
In the first of two articles on initiatives to develop financial markets in East Asia, Anthony Rowley explains why talk of a regional currency has started to get serious.
A Bretton Woods that never was
Richard Roberts recalls the last official effort to create a coherent design for an international monetary system.
Hitting the target
Target2 presents an opportunity to rationalise and modernise the euro clearing and settlement process. The ECB needs to look beyond RTGS argues Mike Evans.
No honeymoon for Fukui
The world is looking for fresh, decisive policies from the new central bank governor. What can he do? Tomohiko Taniguchi reports from Tokyo.
How Fukui should deal with deflation
In the first of a two-part feature on Japan, Andrew Smithers discusses the economic solutions and political obstructions to reviving the stagnant economy.
Why finance gives the West a bad name
Robert Pringle, editor of Central Banking, finds much to ponder over in the latest books on money and globalisation.
Central banks in transition
– Kazakhstan, Georgia and Turkey –
The stability and growth pact: next steps
A flexible and cyclical assessment of euro countries’ finances will mean earlier warnings from Brussels. Has the pact bounced back? William M. Clarke reports.