Frankly, I think Weidmann should sue the reporter who put these words into his mouth—obviously a crude attempt to make him sound like a yahoo who doesn’t know the first thing about his line of work.Department of "WTF?"
Econospeak
Jens Weidmann on Central Banks as Lenders of Last Resort (Not)
Peter Dorman | Professor of Political Economy, The Evergreen State College
1 comment:
What a central bank's mandate is cannot be determined from some sort of abstract general theory about central banks, but depends on the charter of the particular central bank in question and the source of its political authority and operating rules. It's perfectly possible that a central bank in one system might have a mandate to to do things that a central bank in another system does not.
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