Policymakers in countries undergoing banking crises should not worry about the structural stability of money demand functions; the behavior of money demand duri

Policymakers in countries undergoing banking crises should not worry about the structural stability of money demand functions; the behavior of money demand duri

The experiences of seven countries that have undergone banking crises show that crises have significant implications for the short-run stability of the demand f

This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since ma

As economic advisor to the Bank of England for many years, C. A. E. Goodhart is uniquely positioned to assess the role of the central bank in the modern financi