At the same time, I am convinced that central bankers have a responsibility to ensure that their monetary policy frameworks create the proper incentives for the banking community to assume its responsibilities and take the appropriate decisions in a timely manner to shape a healthy banking sector at the service of the real economy.
References Blinder, A.S. and Reis, R. (2005), Economic Performance in the Greenspan Era: The Evolution of Events and Ideas, paper presented at the Federal Reserve Bank of Kansas City Symposium on “Rethinking Stabilization Policy”, Jackson Hole, Wyoming. Burns, A.F. (1979), The Anguish of Central Banking, Per Jacobsson Lecture, 30 September 1979, Belgrade. Detken, C., Gerdesmeier, D. and Roffia, B.