Sir Paul M. W. Tucker
This paper follows up earlier work advocating a principled modernization of doctrines for central bank lender-of-last-resort policies and operations.
More “Current Scholarship
Solvency as a Fundamental Constraint on LOLR Policy for Independent Central Banks: Principles, History, Law”
Paul Tucker, Rosa Lastra, Christina Parajon Skinner, Gerald Epstein, Robert Hockett, Nathan Tankus, Raul Carrillo, Stefan Eich, Dan Rohde and Lev Menand
More “Spring 2021
Reassessing Central Bank Independence”
Adair Turner and Paul Tucker
As the coronavirus pandemic spreads, two economics heavyweights debate the proposition. Replies will be updated in real time.
More “Current Scholarship
Are Central Banks Impotent?”
March 5, 2020
Sir Paul Tucker, Harvard Kennedy School
It has been orthodoxy for as long as I can remember that bank deposits are created by bank lending.
More “Banking: Intermediation or Money Creation
P. Tucker, Thinking about whether and why money matters is more important than debates about “views” on banking intermediation”
Contributors: Morgan Ricks, Marc Lavoie, Robert Hockett, Saule Omarova, Michael Kumhof, Zoltan Jakab, Paul Tucker, Charles Kahn, Daniel Tarullo, Stephen Marglin, Howell Jackson and Christine Desan, Sannoy Das
More “Winter 2020
Banking: Intermediation or Money Creation”