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The Myth of the Independent Central Bank

Frances Coppola

The Myth of the Independent Central Bank

Nobel Laureate Christopher Sims argues that since fiscal policy guarantees the value of fiat money, central banks can never be truly independent of governmentNobel Laureate Christopher Sims argues that since fiscal policy guarantees the value of fiat money, central banks can never be truly independent of government

Frances Coppola

Christopher Sims: Fiscal Pessimism

Fear of future debt obligations is preventing governments taking the fiscal measures needed to restore growth, Op-ed by Frances Coppola

Frances Coppola

Christopher Sims: Ultra-liquidity

Technology changes and post-crisis monetary policy are making financial assets and money indistinguishable. Central banks now need to work in partnership with fiscal authorities.