First, as already mentioned, anything to do with the  BIS Review 2/2008  1  supply side of the economy, but especially the inflation process. Second, the issue of fiscal policy and its relation to external imbalances.
And third, the determinants of economic growth: in particular, the possible effects of economic openness, macroeconomic policies and, of most recent interest to him, financial reform and financial structure. Now, the single observation I wish to make about all three of these analytical areas is that they defy easy conclusions.