Central Bank Machines

Instability, Independence, and Interest Rates

Dec 1, 2015

Overview

Paul McCulley, Warren Mosler, & Frank Newman discuss central banking in the post-2008 era.

This seminar explores the evolving functions, responsibilities, and theoretical frameworks of central banks in the post-2008 era. Questions to be addressed include:

What is the relationship between central bank institutions and sovereign state power?

What role do international swap lines play in the future of global macroprudential regulation?

How do recent innovations such as interest on excess reserves and term deposits affect the interaction between monetary and fiscal policy?

Participants

Speaker
Paul McCulley
Former Chief Economist and Managing Director
Pacific Investment Management Company, LLC
Speaker
Warren Mosler
President
Valence Co, Inc
Speaker
Frank Newman
Moderator
Kristin N. Johnson
Professor of Law
Seton Hall University School of Law

Core Resources

Helicopter Money: Or How I Stopped Worrying And Love Fiscal-Monetary Cooperation

Pozsar, Zoltan, and Paul McCulley Helicopter Money: Or How I Stopped Worrying and Love Fiscal-Monetary Cooperation. Global Society of Fellows, 2013.

 Helicopter_Money_Final1.pdf
  • Read moreabout Helicopter Money: Or How I Stopped Worrying and Love Fiscal-Monetary Cooperation

Does Central Bank Independence Frustrate The Optimal Fiscal-Monetary Policy Mix In A Liquidity Trap?

McCulley, Paul, and Zoltan Pozsar Does Central Bank Independence Frustrate the Optimal Fiscal-Monetary Policy Mix in a Liquidity Trap?. Global Society of Fellows, 2012.

 Paul-McCulley – Does Central Bank Independence Frustrate the Optimal Fiscal-Monetary Policy Mix in a Liquidity Trap.pdf

Fed’s Currency Swaps – A Backdoor Way To Lower US Interest Rates

Mosler, Warren B. Fed’s Currency Swaps – A Backdoor Way to Lower US Interest Rates. Naked Capitalism, 2010.

 Mosler – Fed’s Currency Swaps.pdf