Central Banking Journal
The Euro 50 Group Roundtable: Monetary implications of accession
Hanna Gronkiewicz-Waltz discusses challenges to monetary policy that central banks in candidate countries will face. Governments should be wary of too early an entry.
The Euro 50 Group Roundtable: The pact's performance and prospects
Pedro Solbes, a member of the European Commission, discusses the performance of, and prospects for, the stability and growth pact.
The Euro 50 Group Roundtable: The monetary dimension of European enlargement
Introduction by Edmond Alphandéry, former French finance minister and chairman of the Euro 50 group1.
Why Britain should not join the euro
Janet Bush rejects the economic benefits of monetary union and argues that there is insurmountable opposition to the necessary complementary institution, a European government.
Establishing the credibility of inflation targets
Jannie Rossouw argues that inflation targetting alone is insufficient. Belief in the credibility of the inflation measure itself is essential for a successful policy.
Rational and irrational bubbles
How should central banks react to “irrational exuberance”? Central banks cannot burst what they cannot see, contends Allan Meltzer.
Sovereign bankruptcy: an opinion Jean-Jacques Rey
Jean-Jacques Rey welcomes Anne Krueger’s proposals for a sovereign debt restructuring mechanism. But is it a dead-end or promising avenue?
Interview: Mario Blejer
In January 2002 former IMF economist Mario Blejer became governor of the Banco Central de la Repœblica Argentina with the job of preventing Argentina from descending into financial anarchy. Two weeks after his resignation in late June he spoke to Central…
Interview: Milton Friedman
Milton Friedman assesses the monetarist legacy and the recent performance of central banks. In conversation with Robert Pringle, the Nobel laureate offers his advice for those thinking of joining the euro, or trying to deal with deflation.
Website of the year
The governor of the Bank of Canada, David Dodge, was in London to receive the award for the best central bank website for 2003.
Reserve management: a new era
Dramatic changes in international markets and the role of reserves demand a re-appraisal of reserve management. Terrence Keeley urges more openness and public debate about reserve management