The last step – the expost evaluation of policy effectiveness – is a crucial element of the transparency and the accountability of central banks. Data alone do not provide the necessary information. Data need to be combined with appropriate models – be they formal or informal – and with appropriate empirical techniques to generate knowledge.
Our distinguished speakers will be discussing several critical issues as the world tries to chart a way forward for the financial sector. I will offer some preliminary remarks about the areas which I expect that we will cover. Attitudes and perspectives The global financial crisis and its bank failures, collapses, scandals etc. cannot be undone.