Professor Michael Wickens (University of York and Cardiff Business School) publishes a thoughtful letter in the Financial Times “Central bank policy is founded on flawed analysis” – http://www.ft.com/intl/cms/s/0/44f54316-d0c3-11e5-92a1-c5e23ef99c77.html#axzz40FPPhp2x
Professor Wickens illustrates how assumptions underpinning monetary policy actions actually damage financial stability.
Center for Financial Stability members and friends know how our Advances in Monetary and Financial Measurement (AMFM) data developed under the leadership of Professor William A. Barnett illustrate present day challenges to the conduct of monetary management and financial stability.
For instance, Fixing the Fed’s Liquidity Mess – http://www.wsj.com/articles/fixing-the-feds-liquidity-mess-1437435242 – a Wall Street Journal piece that I wrote with Stephen Dizard highlights the specific challenge to financial stability from illiquid markets. We offer three solutions.