The crisis has shown us that the role of the Central Bank has rarely been more central to global economic welfare. Calls for more, or less, or faster or slower money growth, for new rounds of quantitative easing, for enhancement of the role of Central Banks as lenders of last resort (but to whom?), discussions on the desirable or undesirable role of inflation…. In this context it is essential for any business to understand what a central bank does and does not do.
Taught by Professor Karl Whelan, who has over a decade worth of experience as a central banker in the Federal Reserve and in the Central Bank of Ireland, this course delivered by my Campus Company will examine among other issues
- If and if so how central banks influence interest rates and the money supply.
- Lender of last resort operations and banking regulation
- Quantitative easing
- How major central banks are structured, their legal limits and how they communicate (and how to decipher this)
- Liquidity traps
- Sovereign debt and central banks.
- MMT (Modern monetary theory).
- Credit risk in the Eurosystem of central banks and the correct interpretation of movements in payment systems and TARGET2.
- The euro area crisis and scenarios for a euro break-up.
Coming when the global cental banking debate intersects with the role of the ECB/Central Bank of Ireland on the issue of the Anglo Irish Bank Promissory Notes, this course should enlighten and provide business context to these issues.
- Karl presented a discussion on exceptional liquidity provisions by the Central Bank of Ireland on Friday 27 January. His slides are