Money matters? Perspectives on Monetary Policy
A blog by Francesco Papadia, providing a personal perspective on monetary policy developments drawing from an experience of 40 years in critical positions in central banking.
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Recent Posts
“Forward with forward guidance!” OR “Much ado about nothing?
Francesco Papadia
August 22, 2013
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Many central banks in advanced economies have engaged in some form of forward guidance. The latest to tread...
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Hurray, a crisis!
Francesco Papadia
August 08, 2013
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The European phase of the Great Recession that started in May 2010 has produced huge damage: ask unemployed...
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Is the ECB a central bank overburdened with risk?
Francesco Papadia
July 31, 2013
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The short answer is: yes, but not of the kind you think. The long answer starts by noting that in some quarters...
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Cimabue and Giotto, the Bundesbank and the ECB: an analogy?
Francesco Papadia
July 24, 2013
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Cimabue is defined by the Encyclopaedia Britannica as “the last great Italian artist in the Byzantine style”,while in...
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Target balances and the risk of another “Reparations” problem
Francesco Papadia
July 21, 2013
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The crisis that started in 2007, threatened the global economy with the demise of Lehman Brothers in the...
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