Publications

The Centre has a regular discussion paper series dedicated to academic research, as well as a special paper series focused on policy analysis. In addition, affiliated researchers publish a variety of books, reports and opinion pieces.

Opinion Pieces
Jan 2020
European banks have been criticised for holding too much domestic government debt during the recent euro area crisis, intensifying the doom loop between sovereign and bank credit risks. This column deviates from previous research that focused on '...
Opinion Pieces
Dec 2019
Given that China is a strategic and economic rival to the US, the Trump administration’s framework for US-China trade makes far more sense than one that focuses on economic benefits alone.
Opinion Pieces
Dec 2019
Financial institutions are increasingly outsourcing information technology to the cloud, motivated by efficiency, security, and cost. This column argues that the consequence is likely to be short- and medium-term stability at the cost of the...
Opinion Pieces
Aug 2019
The type of risk we most care about is long-term, what happens over years or decades, but we tend to manage that risk over short periods. This column argues that the dissonance of risk is that we measure and manage what we don't care about and...
Opinion Pieces
Aug 2019
As central banks accumulate ever more job functions, their reputation risk increases. This column offers a cautionary tale from Iceland where, after the central bank was put in charge of capital controls, it was subject to severe attacks because of...
Opinion Pieces
Jun 2019
Orkun Saka, Nauro Campos, Paul De Grauwe, Yuemei Ji and Angelo Martelli
Financial crises play a key role in changing existing policies concerning financial markets and institutions. This column provides new evidence for the negative impact of financial crises on the process of financial liberalisation. It also shows,...
Opinion Pieces
Jun 2019
Jeffrey M Chwieroth and Andrew Walter
The accumulation of mass financialised wealth has transformed the politics of banking crises. This column shows that the rising wealth of the middle classes has generated great expectations that their wealth will be protected by the government. As a...
Opinion Pieces
May 2019
Çağatay Bircan and Orkun Saka
Government ownership of banks can help solve credit market failures and stabilise the supply of credit over the business cycle. However, it can also end up serving political interests and lead to a misallocation of financial resources. This column...
Opinion Pieces
Nov 2018
Cryptocurrencies are primarily held today for speculative reasons and see little economic use outside of that. This column argues that if private cryptocurrencies were to find widespread economic use, either coexisting with or fully displacing fiat...
Opinion Pieces
Sep 2018
Financial policy is determined in multiple domains by separate government authorities. This column explores the hierarchical ranking of these domains and authorities. On top is the authority in charge of fiscal policy, followed by those running...

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