Central Banking after the Crisis: Brave New World or Back to the Future? Replies to a questionnaire sent to central bankers and economists
Central Banking after the Crisis: Brave New World or Back to the Future? Replies to a questionnaire sent to central bankers and economists
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危机后的中央银行：美丽新世界还是回到未来？
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发表时间：
2013
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通讯作者：
Marc Pourroy
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作者：
E. Carré;Jézabel Couppey;Dominique Plihon;Marc Pourroy
本文使用2011年制作的一份调查问卷中的数据，为法国经济分析委员会提交给总理的一份报告提供了危机后中央银行学说现状的快照，该调查问卷发送给中央银行家（来自13个国家和欧元区）和经济学家（31个）。我们对问卷答复的分析结果是双重的。首先，我们表明金融危机导致了危机前中央银行的一些修正。我们强调，调查问卷的受访者同意将中央银行业务扩展到金融稳定的“更广泛”观点的一般原则。然而，央行官员和经济学家在实施这一“更广泛”观点的细节上存在分歧或给出了不一致的答案。因此，细节又一次决定了成败。我们指出，由于央行行长的保守主义，不排除恢复现状的可能性。
This paper provides a snapshot of the current state of central banking doctrine in the aftermath of the crisis, using data from a questionnaire produced in 2011 and sent to central bankers (from 13 countries plus the euro zone) and economists (31) for a report by the French Council of Economic Analysis to the Prime Minister. The results of our analysis of the replies to the questionnaire are twofold. First, we show that the financial crisis has led to some amendments of pre-crisis central banking. We highlight that respondents to the questionnaire agree on the general principle of a 'broader' view of central banking extended to financial stability. Nevertheless, central bankers and economists diverge or give inconsistent answers about the details of implementation of this 'broader' view. Therefore, the devil is once again in the details. We point out that because of central bankers' conservatism, a return to the status quo cannot be excluded.