Abstract
It is both a pleasure and a privilege to participate in the closing panel of this conference honoring Ben Friedman. Ben taught me monetary policy and central banking, and his teaching had a major influence on my decision to spend most of my career as a central banker. My intellectual debt to Ben, as a scholar and a friend, is so great that I do not think I will ever be able to repay him. So much for intertemporal budget constraints.
Today I would like to address four issues that I believe should be high on the agenda of central bankers, particularly in light of the substantial changes brought on by the great financial crisis that we lived through over the past few years. These issues are (i) the relationship between monetary policy and financial stability; (ii) the legacy of high public debt; (iii) systemic liquidity risk; and (iv) globalization.
Authors
- José Viñals