Globalisation: A Macro-Financial Perspective - Geary Lecture 2019

Authors

  • Philip R. Lane European Central Bank, Trinity College Dublin and CEPR

Keywords:

globalisation, macro-financial stability, global economy

Abstract

The preservation of macro-financial stability in a globalised economy poses several challenges. First, evidence-based policymaking depends on the availability of informative macro-financial data: this paper discusses the Irish experience in developing customised versions of macroeconomic and financial statistics to track domestic developments. Second, policymaking in a globalised economy is constrained by a trio of trilemmas (monetary, financial and political economy): this paper interprets membership of the EU and the Euro Area in the context of these trilemmas.

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Published

2019-06-25

Issue

Section

Articles