Opinion
The efficient markets hypothesis: dead and buried?
The efficient markets hypothesis has taken a bruising as a result of the crisis but it may have life in it yet, says Claire Jones
Gold should form an essential part of central banks’ liquidity portfolio
The credit crisis has highlighted that in times of turmoil, gold is one of the few assets that remains liquid, says Natalie Dempster, director of government affairs at the World Gold Council
FROM THE ARCHIVES: new MPC member criticises Greenspan put
In this article, taken from the August 2003 edition of Central Banking, Martin Weale, on Monday named the Bank of England’s new rate-setter, argues against the Federal Reserve keeping rates at low levels following the bursting of the dotcom bubble
UK officials must consider cultural factors in regulatory overhaul
Navigating the transition to Britain’s new regulatory regime is fraught with cultural challenges, writes Michael Foot
Ten legal gaps Europe’s regulators must close
René Smits identifies ten key issues that European financial legislators must consider when constructing the post-crisis regulatory framework
An open letter to the chancellor of the exchequer
The UK government’s plans for financial regulation are far from clear, writes Bill Allen, a former deputy director at the Bank of England
Initial optimism on Greek bailout may falter
Marco Annunziata, the chief economist at UniCredit, examines the reaction to, and implications of, the Greek bailout
The forces of darkness overwhelm bank reform
Banks’ lobbying and politicians’ arguments against the Dodd regulatory reform bill are lamentable, Robert Pringle writes
Twenty years of Central Banking Publications
This anniversary was held on 24 March at the Reform Club. The guest of honour was Jacques de Larosière, who congratulated Robert and Central Banking on their achievement
European monetary fund won't pay
Marco Annunziata, the chief economist at UniCredit, argues against the creation of a European monetary fund
A welcome return to money
Central banks’ renewed in interest in the importance of money is to be applauded. But they must also consider the right money measure and how changes should impact policy, Gabriel Stein argues
How Africa’s bond markets can continue to progress
The impressive growth of debt markets in sub-Saharan Africa is a credit to the region’s authorities. But more can be done, writes Paul-Harry Aithnard, the group head of research at Ecobank
Three things you should know about Chiang Mai
The Chiang Mai initiative has cemented Asian financial stability. Jayant Menon, a principal economist at the Asian Development Bank, highlights three key themes to take from the project
No winners from Redrado’s row
The Central Bank of Argentina's conflict confronts the country with a Catch-22 situation from which the authorities cannot profit, argues Vladimir Werning, an economist at JP Morgan.
Obama’s proposals – the only game in town
President Obama’s radical proposals recognise that the financial lobby can no longer hold society to hostage. They should be welcomed as a result, Robert Pringle, the chairman of Central Banking Publications, writes.
Eurozone may need to rethink strategy on Greece
Brussels and the European Central Bank have underestimated the potential for contagion from Athens’s fiscal woes, argues Marco Annunziata, the chief economist at UniCredit
Inflation targeting remains relevant
Inflation targeting can and should survive recent criticisms, argues Don Brash, a former governor of the Reserve Bank of New Zealand – the first central bank to introduce the framework
Controls cannot curb currency appreciation
Emerging markets must recognise the need to let their currencies appreciate, Ousmène Mandeng and Jerome Booth of Ashmore Investment Management argue
Separating the casino from the retail bank will not work
A division between investment and retail banking will not prevent future financial crises, Clive Briault, the founder of Risk and Regulation Consulting and a former managing director at the Financial Services Authority, argues
FSA’s Turner is right to push for a Tobin tax
The financial sectors in mature economies grew too large in the run-up to the crisis. A Tobin tax can help prevent this from happening again, argues Costas Lapavitsas, a professor at the School for Oriental and African Studies
How narrow banks would fit in the financial system
Alessandro Roselli, a former official of the Bank of Italy, calls for a banking structure where narrow banks co-exist with commercial banks, properly redefined, and investment banks.