Central banks across the planet are engaging in a robust agenda that would have been unrecognizable just a few years ago. Quantitative easing, macro prudential monitoring, asset market support in Europe have all made it much more difficult to understand what a central bank does and does not do.
Can central banks easily mop up liquidity and shrink their balance sheets when the world economy begins to recover, or will inflationary dynamics emerge? In the mystical realm of money, are central banks courting controversy that will threaten their credibility and stature within society? If they lose their leading role what will markets condition their expectation upon?Charles Goodhart - Professor, London School of Economics (Paper)
Richard Koo - Chief Economist of Nomura Research Institute (Paper)
Liu Mingkang - Distinguished Fellow, Fung Global Institute
Adam Posen - President of the Peterson Institute for international Economics
Moderator: Andrew Sheng - President, Fung Global Institute
[NGDP targeting fans may be interested in what Goodhart has to say.]