The benefits of openness beats fragmentation
Andrew Bailey describes the benefits of openness and the risks posed by fragmentation for the world economy and financial stability
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EU-wide investment conditional on adherence to fiscal-structural plans
Age Bakker and Roel Beetsma provide concrete suggestions for the financial design and enforcement of an EU-wide investment fund
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A theory of US trade policy transitions
Renee Bowen, Lawrence Broz and Peter Rosendorff explore the major transitions in US trade policy since the Civil War, and demonstrate that shocks like the Civil War and the Great Depression pave the way for trade policy transitions
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Artificial intelligence and financial stability
The use of artificial intelligence is accelerating. Jon Danielsson argues that although AI will bring considerable benefits, it also raises new challenges and can even destabilise the financial system
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Money and payments: a ‘black ships’ moment?
Jon Cunliffe recalls Facebook’s announcement in 2019 that it was launching a digital currency, and discusses the three areas where this galvanised more urgent action by authorities
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Some lessons for crisis management from recent bank failures
Agustín Carstens discusses the lessons from the bank failures that occurred in March 2023, and argues that robust and proactive supervision is essential
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Cyber risks and operational resilience: getting prepared
Elisabeth Stheeman discusses how the threat of cyber-attacks has become an increasingly important consideration for maintaining financial stability in the UK, describing how the FPC is working to improve the financial system’s resilience to cyber risks
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The European economic outlook and policymaking
Laura Papi argues that seeing off inflation and pivoting to longer-term reforms have important implications for the trajectory of inflation, competitiveness, and growth in the future
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Responsible innovation in money and payments
Innovations in money and payments continue to be of primary importance. Michelle Bowman cautions against solutions that could disrupt and disintermediate the banking system
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Reboot of the UK-EU relationship in financial services regulation
Brexit poses unique challenges for policymakers in the EU. Thorsten Beck and Christy Ann Petit assess the EU’s equivalence policy and present options for deepening regulatory cooperation
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