Monetary Policy After the Fall - paper by Charles Bean

In a paper presented at the Jackson Hole Economic Policy Symposium, Charles Bean - Deputy Governor of the Bank of England and member of the Monetary Policy Committee (MPC) - discusses the lessons learned from the financial crisis for the future conduct of monetary policy.
Published on 28 August 2010

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."

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