Feature
A chronology of the crisis
A month-by-month account of the greatest banking crisis since the Great Depression
Obama builds formidable team
Malan Rietveld looks at the new economic brains trust in America and the challenges it will face
The transmission of liquidity shocks during the crisis
The latest research suggests the emergence of new channels through which liquidity shocks were transmitted
The wider benefits of assistance
Juliet Johnson suggests that assistance to post-communist central banks by their Western counterparts resulted in closer links between central bankers more generally
A sunny outlook for the Cayman Islands
Warren Coats surveys the contribution of the Cayman Islands Monetary Authority to the enhancement of the island economy’s reputation
Towards a new financial system
Dino Kos identifies the likely changes to the global financial system in light of the credit crunch
Why Bulgaria needs a managed float
Sofia’s currency board is no longer sustainable, argues Ivan Angelov
Bagehot revisited
The credit crisis has underlined the limited effectiveness of central banks’ lender-of-last-resort function, argues Bruce White
Why the American economy needs fiscal assistance
For all its activism, the Fed cannot address the persistent imbalances in the American economy on its own, says John Balder
Getting the policy mix right
Policymakers should pay greater attention to the links between liquidity and capital, says Glenn Hubbard
Turmoil in the Basel tower
The handling of the resignation of Malcolm Knight was badly bungled, says Klaus Engelen
Draghi prepares to slim down
The Bank of Italy finds resistance from its staff and labour unions, but insists it will push ahead with controversial reforms. Isabella Bufacchi reports
Obamanomics vs McCainomics
Malan Rietveld looks at the possible economic policies and key appointments of the two presidential candidates in America
Inside Beijing’s power struggle
Having seized the early initiative in Beijing’s anti-inflation strategy, the People’s Bank of China has seen its authority increasingly challenged, argues Hui Feng
Light in Gaza
Jihad Alwazir, the governor of the Palestine Monetary Authority, tells Claire Jones how the central bank is reforming the state’s banking sector and why the institution needs to be a “jack of all trades”
What a revaluation of the renminbi could achieve
Marvin Goodfriend underlines the limits to what an appreciation of the Chinese currency would mean for the American trade deficit
Russia’s monetary dilemma
Time is running out for Russia to deal with its “problem of success”. There are three possible ways forward, writes Bill Allen
Argentina’s crippling fear of floating
Argentina’s history of crises has haunted successive generations of policymakers, argues Vladimir Werning
Colombia’s communication challenge
Lavan Mahadeva, Diana Mejía Anzola and Jose Darío Uribe Escobar outline the steps the Colombian central bank has taken in communicating with different audiences
Central banking in paradise: 25 years of the ECCB
As the Eastern Caribbean Central Bank turns 25, Blair Baker and Giancarlo Espejo reflect on the leading role it has played in building financial markets and promoting regional integration
From villains to heroes
Avinash Persaud says we should thank our lucky stars for sovereign wealth funds
Breaking the Japanese impasse
Ken Worsley assesses what the political battle over the new governor will mean for the Bank of Japan’s independence
The new face of the Bank of Japan
Masaaki Shirakawa brings a wealth of experience and a strong reputation to the top job in Japan, argues Malan Rietveld
Avoiding the deflation trap: three lessons from Japan
The Fed appears to have learned from Japanese monetary-policy mistakes of the early 1990s. But it could still find itself overwhelmed by events, argues Takeo Hoshi