Tag: Governing Finance

A European Anti–Money Laundering Supervisor: From Vision to Legislation

and | 10 February 2020
Blog, Monetary | Tags: AML, Financial Supervision, Governing Finance
The European Union is moving toward implementing a policy to strengthen anti–money laundering (AML) supervision across its Single Market, namely enforcing requirements on banks and other firms to ensure they do not facilitate transactions involving proceeds from illegal activities. The European Commission, in charge of ... continue reading

Should Monetary Policy Take Inequality and Climate Change into Account?

| 24 January 2020
Discussion Notes, Monetary | Tags: Climate Change, Governing Finance, Inequality
Should central banks take more account of ethical issues, notably the impact of monetary policy actions on the distribution of income and wealth and on efforts to combat climate change, in the design and implementation of the wider monetary policy toolkit they have been using ... continue reading

Legitimacy Challenges to Central Banks: Sketching a Way Forward

| 19 January 2020
Discussion Notes, Monetary | Tags: Central Banks, Governing Finance
Delegation to independent agencies (IAs) can reap real benefits for policy making. In the case of monetary policy, it shores up the credibility of the central bank. However, it is generally accepted that the discretion of IAs needs to be constrained to ensure their legitimacy. This ... continue reading

Against Amnesia: Re-Imagining Central Banking

and | 10 January 2020
Discussion Notes, Monetary | Tags: Central Banks, Governing Finance
The purpose of the present paper is to identify and challenge contemporary adherence to the core of the prevailing monetary policy consensus. This consensus consists of what we call the holy trinity of the inflation targeting paradigm: price stability as the primary goal of the ... continue reading

Governing Finance for Sustainability

Washington D.C., 16 October 2019
Monetary, Panel | Tags: Central Banks, Financial Regulation, Governing Finance
The nexus between financial governance, macroeconomic and financial stability, social cohesion, and environmental sustainability has become the subject of a growing debate among policymakers and market participants. Current beliefs on central banking and financial regulation are being questioned in the face of systemic challenges such ... continue reading