Sources and acknowledgments

Source

The author would like to give special thanks to the following for their help and insights: Viral Acharya; Tobias Adrian; Andrew Bailey; Helge Berger; Alex Brazier; Markus Brunnermeier; Agustin Carstens; Steve Cecchetti; Bill Dudley; Rickard Eriksson; Kristin Forbes; Alicia Garcia Herrero; Donald Kohn; Christine Lagarde; Christina Parajon Skinner; Eswar Prasad; Glenn Rudebusch; Kenneth Rogoff; Randal Quarles; Raghuram Rajan; Shirakawa Masaaki; Larry Summers; Sir Paul Tucker and Yu Yongding.

Sources:

Itai Agur, Damien Capelle, Giovanni Dell’Ariccia and Damiano Sandri, “Monetary Finance: Do Not Touch, or Handle with Care?”, IMF.

Serkan Arslanalp, Barry Eichengreen and Chima Simpson Bell, “The Stealth Erosion of Dollar Dominance: Active Diversifiers and the Rise of Nontraditional Reserve Currencies”, IMF.

Alina Bartscher, Moritz Kuhn, Moritz Schularick and Paul Wachtel, “Monetary Policy and Racial Inequality”, Federal Reserve Bank of New York, March 2022.

Carola Conces Binder and Christina Parajon Skinner, “Laboratories of Central Banking”, 2021.

Carola Conces Binder and Christina Parajon Skinner, “The Legitimacy of the Federal Reserve”, 2021.

Markus Brunnermeier and Pierre Landau, “The digital euro: policy implications and perspectives”, report for the European Parliament, 2022.

Mark Carney, Breaking the Tragedy of the Horizon, September 2015.

Bill English, Kristin Forbes and Angel Ubide, “Monetary Policy and Central Banking in the Covid Era”, VoxEU, 2021.

Athanasios Orphanides, “The power of central bank balance-sheets”, IMES Discussion Paper Series, Bank of Japan, 2020.

Eswar Prasad, “The Future of Money”, 2021.

Raghuram Rajan, “Central banks, political pressure and its unintended consequences”, December 2021

Kenneth Rogoff, “Is this the beginning of the end of central bank independence?”, G30 occasional paper, 2019

Sir Paul Tucker, “Unelected Power”, 2018.

Yiping Huang, Tingting Ge and Chu Wang, “Monetary policy framework and transmission mechanisms”, in “The Handbook of China’s Financial System”, edited by Marlene Amstad, Wei Xiong and Sun Guofeng, 2020.