King's paper on current turmoil
The governor of the Bank of England, Mervyn King, presented a 10-page paper on the recent market turmoil and the Bank's response, to the British parliament's Treasury Committee prior to his testimony on 20 September.
King suggests that the paper essentially answers two questions. First, what are the immediate causes of the recent turmoil and what are its implications? Second, what can and should central banks do to alleviate the problems?
To download the paper, click here.
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