But while there may be a role for such public sector initiatives at the European level, the ECB’s narrow mandate curtails its ability to contribute – a fact that, I think, is not always well understood by our critics on the subject.
I was delighted when Adrian asked me to continue the RBA's support of the Foundation. In the early 1990s, when I first returned from studying overseas, Adrian had just taken up the position of Head of Economic Research at the RBA and he was a great mentor to me.