A tale of two perspectives:old or new challenges for monetary policy?

Topics:
Commercial Banking
Tags:
Bank,
Challenge,
Financial Services,
V-One Corp.
Source:
V-ONE

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Overview: This paper reviews the challenges faced by central banks in recent years in order to evaluate their policy implications going forward. To highlight the genuine uncertainty surrounding the lessons to be drawn, the paper examines recent experience through two intentionally polarised perspectives, viz. the "continuity" and "new-environment" views. These perspectives lead to somewhat different conclusions regarding the nature of the challenges central banks are likely to face in the current economic landscape and the policy responses that may be appropriate.

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Format: PDF | Size: 701KB | Date: Feb 2003 | Pages: 66

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