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(Central Banks) Put Central Bankers in Their Place (Project-Syndicate)

HOWARD DAVIES writes for Project-Syndicate: Current loose monetary policies in developed economies are likely to increase wealth inequality, and in the short term there is little that monetary and regulatory authorities can do about it. Resolving the problem will instead require finance ministers with a strong political mandate to implement redistributive measures.

go to Project-Syndicate website: Put Central Bankers in Their Place by Howard Davies – Project Syndicate (project-syndicate.org)

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Central Banks – Central Banking, Fast and Slow (Mohamed A. El-Erian, Project-Syndicate)

As the global economy emerges from the COVID-19 shock, systemically important central banks are faced with the unenviable task of deciding when and how quickly to phase out extraordinary stimulus measures. While there is no easy answer, there are clear criteria for maintaining policy credibility.

Central Banking, Fast and Slow by Mohamed A. El-Erian – Project Syndicate (project-syndicate.org)

 

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How central banks are tackling climate change risks (WEF)

Policy Officer, European Commission
  • Central banks have an increasingly critical role in tackling climate change policy objectives.
  • Incorporating climate-related risks into regulatory frameworks remains challenging but central banks are starting to lead the way.

https://www.weforum.org/agenda/2021/05/central-banks-tackling-climate-change-risks/

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(Central Banks) New central banking calls for a European Credit Council (VOXEU)

Eric Monnet

Since 2008, a new central banking model has emerged. Monetary authorities increasingly engage in targeted lending, hold large amounts of public debt, and focus on climate change. This column argues that the new practices of central banks call for an updated institutional framework in order to maintain democratic legitimacy. It proposes the creation of a European Credit Council, which would provide impartial assessments of the ECB’s decisions, particularly those with large distributional consequences. In addition, it would develop proposals for coordinating monetary policy with other EU policies and reinforce the role of the European Parliament.

https://voxeu.org/article/new-central-banking-calls-european-credit-council

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CENTRAL BANKS/GREEN TRANSITION – Central Banking’s Green Mission (Mariana Mazzucato, Josh Ryan-Collins, Asker Voldsgaard, Project-Syndicate)

Since the 2008 global financial crisis, central banks have shown time and again that they have the power to maintain the economic status quo. Now, they must use that power to support a timely green transition.

https://www.project-syndicate.org/commentary/central-banking-green-transition-climate-change-by-mariana-mazzucato-et-al-2020-12