News and upcoming events

MayerThurs, Feb. 21. The Purpose and Future of the Corporation. Colin Mayer, University of Oxford. 11:45am-1pm, Fainsod.

Jeffrey FrankelThe Euro's first 20 Years. Jeffrey Frankel, Project Syndicate

Paul TuckerPaul Tucker's book Unelected Power featured as an HKS Virtual Book Tour

Philippe Le CorreHuawei and Europe's 5G Conundrum. Philippe Le Corre, The National Interest

Read the Center's Spring 2019 newsletter here (PDF)

After the financial crisis, countries around the world significantly expanded the objectives and powers of central banks. As central banks have acquired more powers, the trade-off between independence and accountability has become more complex and as a result, the pre-crisis academic consensus around central bank independence has broken down and popular discontent towards central banks is growing. Ed Balls, James Howat and Anna Stansbury have co-authored a working paper, Central Bank Independence Revisited: After the financial crisis, what should a model central bank look like?

Paul Tucker, M-RCBG research fellow and chair of the Systemic Risk Council, spoke on this topic at the Annual Robert Glauber Lecture on October 24, 2018: Reinforcing Financial Stability in a Crumbling International Order. Watch the video here.

Quote

"It is often said that the chair of the Federal Reserve is the second most important person in Washington. I'm not sure the statement is exactly right, but that it is plausible is, in a sense, remarkable. Why should the second most important person in Washington not be elected by the people or at least directly accountable to and subject to dismissal by elected officials?"

Content

Lawrence H. Summers
Charles W. Eliot University Professor
Director, Mossavar-Rahmani Center for Business & Government

Read more

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Related: Washington may bluster but cannot stifle the Chinese economy

 


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