Rethinking Central Bank Report by Barry Eichengreen, Mohamed El-Erian, Arminio Fraga, Takatoshi Ito, Jean Pisani-Ferry, Eswar Prasad, Raghuram Rajan, Maria Ramos, Carmen Reinhart, Hélène Rey, Dani Rodrik, Kenneth Rogoff, Hyun S. Shin, Andrés Velasco, Beatrice W. di Mauro and Yongding Yu, indicated by Alvaro Manoel, published by CIEPR. “This paper lays out a framework for rethinking central banking in light of lessons learned in the lead-up to and aftermath of the global financial crisis. By the early 2000s, a growing number of central banks, in advanced countries and emerging markets alike, had converged on a policy framework, flexible inflation targeting, which seemed capable of achieving price stability and delivering macroeconomic stability at the national and international levels…Now, however, there is growing recognition that the conventional approach to central banking needs to be rethought.”
