He begins by describing the pre-crisis consensus over the appropriate macroeconomic policy framework. Following the crisis, it is natural to ask what the events of the past three years tell us about the suitability of that policy framework. Charles Bean states: "Monetary policy makers would ... be remiss if they did not re-examine their own decisions in the lead-up to the crisis and strive to learn the lessons for the future conduct of policy."
Published on
28 August 2010
Press release