Articles by Charles Goodhart
Focus is needed on improving central bank forecasts
Charles Goodhart believes tougher action over forecasting errors is preferable to policy-maker performance-related pay
Book notes: A guide to good money, by Brendan Brown and Robert Pringle
The authors make some good points even if one does not agree with this full-bodied attack on Keynesian economics and inflation targeting
Inflation: what went wrong, and why?
Charles Goodhart and Manoj Pradhan detail three theories on the causes of high inflation, as well as their implications for policy responses
Book notes: The menace of fiscal QE, by George Selgin
Much of this book is even more relevant, thought-provoking and important following Covid-19
Coronavirus panic fuels a surge in cash demand
Covid-19 has led to banknote hoarding in Australia, Brazil, Canada, the eurozone, Russia and the US, fuelled by concerns about financial system stress, write Jonathan Ashworth and Charles Goodhart
Book notes: Narrative economics, by Robert Shiller
The book is good fun to read, but some elements are a little disappointing
The optimal size for central bank balance sheets
As the Fed seeks to reduce the assets on its balance sheets, Charles Goodhart examines the role between monetary and fiscal policy, central bank and debt office, and the optimal size of a central bank’s balance sheet
The MPC process in light of the Warsh Review
The Bank of England’s revised MPC meeting schedule has some merits but will not add to transparency and raises the risk of news shocks, writes former member Charles Goodhart
Are CoCos from cloud cuckoo-land?
The rationale for requiring banks to hold contingent capital is right. However, the mechanics of their operation and market implications may be subject to doubt, argues Charles Goodhart.
Why prevention is better than cure
Does delay in closing a bank make a crisis worse? Not necessarily so, says Charles Goodhart, who examines the case for and against with reference to recent financial crises and near-crises
Time for the ECB to intervene
Charles Goodhart makes the case for Europe’s central bank to sell the euro.
Dear Jean-Claude...
Changing the way the ECB works would improve its image and make your job easier, writes Charles Goodhart in an open letter to the ECB’s president.