Professor Ricardo Reis gives his inaugural lecture as A W Phillips Professor of Economics (A W Phillips Chair in Empirical Macroeconomics). Central banks in 2018 look nothing like they did in 2006, Ricardo Reis questions whether should they go back to the old days, or aim to being very different by 2030? A current topic of active debate in monetary economics today is how to handle “normalization”. The premise is that the last decade monetary policy was “exceptional” in the response to the financial crises, and over the next few year it should go back to normal. This lecture will discuss what that new normal should be. Professor Reis will argue that we have learned a great deal from the many experiments of the past ten years, and that these lessons carry over to normal times. Ricardo Reis is the A W Phillips Professor of Economics at the London School of Economics. He is a consultant to central banks around the world, and is former the chief editor of the Journal of Monetary Economics.
