08/21/2015
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Aims and Scope of the journal Economic & Financial Review

The economics profession has divided itself into three groups: (i) the public sector economists (ii) the private sector economists and (iii) the academic economists; with each group tending to have its own ethos and beliefs.

While there is one economics discipline, each class of economists has its own ideologies, modes of thinking and methodologies. In practice, there is little interaction or close links among the three. Economic and Financial Review aims to provide a medium for enabling and enhancing communications among the three groups.

The journal will include contributions from all sides of the profession – portraying the state of the art as well as presenting the new thinking, developments, directions, emerging techniques and their applications in the area of economics and finance. The journal will address issues related to decisions, timing and implementation of alternative policies at government level. It will also concern itself with the problems, consequences and necessary steps for the reversal of a given policy when it fails to produce the desired results.

The journal, in addition, addresses the difficulties facing the market decision makers, in effect, “the policy-takers” who need to incorporate into their forecasts government actions.

Finally, it is intended that the periodical will aid in removing the isolation that currently exists among the different groups so that the new theories that are formulated will be more in tune with the real workings of the economy, and guide the practitioners.

Among the articles published in Economic & Financial Review have been:

    • Communication and Monetary Policy – Christine Lagarde, European Central Bank
    • “Disguised Inflation” and Baskets of Individual Consumers – H. Scobie, European Economics & Financial Centre
    • Behaviour of the Gold Market: Value to Central Banks and Investors – Louise Street, Krishan Gopaul, Ray Jia, Mukesh Kumar, Jeremy De Pessemier, Juan Carlos Artigas, Johan Palmberg, Joseph Cavatoni and John Reade, World Gold Council
    • Mitigating Exposures and Vulnerability to Capital Flows – Francesco Papadia, Bruegel
    • Navigating Macroeconomic Indicators of Advanced Economies – Luca Mezzomo, Paolo Mameli, Giovanna Mossetti, Lorenzo Biagioli, Aniello Dell’Anno and Andrea Volpi, Intesa Sanpaolo Bank
    • Neutralising and Normalising the Economy – Jiří Rusnok, Czech National Bank
    • Policy Trade-offs and Policy Mix in Small Open Economies in the Face of Adverse Shocks – Alejandro Díaz de León, Bank of Mexico
    • Monetary and Financial Stability and the Invasion of Ukraine – Sir Jon Cunliffe, Bank of England
    • Overcoming the Challenges of the Pandemic: Perspectives from Denmark – Lars Rohde, National Bank of Denmark
    • A Quarter of a Century of Monetary Policy in Mexico – Jonathan Heath, Bank of Mexico
    • Thoughts on the Design of a European Recovery Fund – Oscar Arce, Ivan Kataryniuk, Paloma Marin and Javier J. Perez, Bank of Spain
    • Ramifications of UK Exit from the EU and Its Future Relations – H. Scobie and N. Dashiell, European Economics & Financial Centre
    • Transformation of Central Banking and Monetary Policy in Europe – Olli Rehn, European Central Bank 
    • Monetary Transmission in India – Viral V. Acharya, Reserve Bank of India
    • U.S. Economic Outlook and Monetary Policy –  Loretta J. Mester, Federal Reserve Bank of Cleveland
    • Wages, Productivity and Competitiveness in Greece – C.A. Ioannou, K.N. Kanellopoulos and S. Petros, Hellenic Federation of Enterprises (SEV)
    • The Belgian Shadow Banking Sector: An Overview – Financial Services and Markets Authority (FSMA) & National Bank of Belgium
    • Emerging Economies in a New Global Cycle: Central Bank Perspectives – Javier Guzman Calafell, Bank of Mexico
    • The Euro-area Economy: On the Road to Recovery and Reform? – Olli Rehn, European Central Bank 
    • The Road to Exiting the EU: Impact on the UK Economy and Outlook – H. Scobie, European Economics & Financial Centre
    • A Life Close to the Centre – Lars Rohde, National Bank of Denmark
    • How to Restructure Venezuelan Debt – Lee C. Buchheit, Cleary Gottlieb, Steen & Hamilton, and G. Mitu Gulati, Duke University Law School
    • Thoughts on Europe: Its Future Outlook and Challenges Facing the Banking Sector – Luigi Federico Signorini, Bank of Italy
    • Exit from the European Union – Paul Oscar, European Economics & Financial Centre
    • China’s New Economic Policy: Changing Analytical Conditions for Financial Markets and Corporations – Hubert Fromlet, Linnaeus University, Sweden
    • Banking Deserts, Branch Closings, and Soft Information – Donald Morgan, Maxim Pinkovsky and Bryan Yang, Federal Reserve Bank of New York
    • The U.S. Economic Outlook and Monetary Policy – Loretta J. Mester, Federal Reserve Bank of Cleveland
    • The Impact of Diverging Monetary Policies on Emerging Markets – Daniel Mminele, Reserve Bank of South Africa
    • “Work Ticket” Scheme for Employment Creation and Growth: A Proposal – H. Scobie, European Economics & Financial Centre
    • Banking Union and Financial Integration in the European Union – Vitas Vasiliauskas, European Central Bank
    • Economic Outlook for the Asia-Pacific Region –  Paul Sheard and Paul F. Guenwald, Standard & Poor’s, New York
    • Overcoming Economic Challenges in Europe: the Way Forward – Ilmars Rimsevics, European Central Bank The Global Financial Crisis and the Indian Financial Sector – Duvvuri Subbarao,  Reserve Bank of India
    • Preserving the Credit of the Sovereign through a Financial Sector Meltdown: The Case of Iceland – Mar Gudmundsson, Central Bank of Iceland
    • The Shape of Financial Markets Post Financial Crisis – Nancy Metcalf and Roy Cable, European Economics & Financial Centre
    • Policy Challenges Facing the Euro-Area Economy – Luc Coene, National Bank of Belgium
    • Completing the Euro Project: the Day after Tomorrow – Jose Manuel Gonzalez-Paramo, European Central Bank 
    • The Cost of Euro Break-Up – Stephane Deo, Paul Donovan and Larry Hatheway, UBS
    • Relevant Policies in Managing a Sovereign Debt Crisis – Stephen James, European Economics & Financial Centre
    • Preventing Spillovers on the Global Economy –  Jean-Claude Trichet, European Central Bank
    • Economic and Monetary Union: Lessons from the Recent Crisis – Erkki Liikanen, European Central Bank 
    • 2010: A Progress Report on the UK Economy and Monetary Policy – Spencer Dale, Bank of England
    • UK Monetary Policy: How Long Should “the song remain the same?” – Andrew Sentence, Bank of England
    • The ECB’s Actions during the Recent Crisis and the Policy Elements Needed for a Sound Recovery – Gertrude Tumpet-Gugerell, European Central Bank
    • The Financial Crisis and the Role of Austrian Banks in CESEF – Ewald Nowotny,  European Central Bank 
    • Non-standard Monetary Policy: Five Questions about the Exit – Jose Manuel Gonzalez-Paramo, European Central Bank
    • Can We Ensure that Global Banks Do Not Create Global Problems? – Eric Rosengren, Federal Reserve Bank of Boston
    • How to Prevent a Systematic Financial Failure – James Ponty, European Economics & Financial Centre
    • Exit Strategy for the Federal Reserve – James Bullard, Federal Reserve Bank of St. Louis
    • Sovereign Wealth Funds and Global Imbalances – Sir John Gieve,  Bank of England
    • The Role of Central Banks in Credit Markets –  Jeffrey M. Lacker, Federal Reserve Bank of Richmond
    • The U.S. Sub-prime Crisis and its Implications for Europe – Hubert Fromlet, Blekinge Institute of Technology, Sweden
    • Perspectives on the U.S Economy – Gary H. Stern, Federal Reserve Bank of Minneapolis
    • Foreign Reserve Accumulation: Some Systemic Implications – Christian Noyer, Bank of France
    • Milton Friedman and Money Stock Control – William Poole, Federal Reserve Bank of St. Louis
    • Corporate Cash Balances and Economics Activity – Kevin M. Warsh, Board of Governors of the Federal Reserve System
    • Economic Development in the African Region: Liquidity versus Yield – Razia Khan, Standard Chartered Bank
    • Fiscal Policies and Financial Markets in Economic Monetary Union- Jose Manuel Gonzales-Paramo, European Central Bank
    • Business Capital Spending – Donald L. Kohn, Board of Governors of the Federal Reserve System
    • Assessing Economic Upturns and Downturns in Business Cycles – H. Scobie, European Economics & Financial Centre
    • Developments in the U.S Labour Market – Michael H. Moskow, Federal Reserve Bank of Chicago
    • The U.S. Economic Outlook: Under an Inflation Watch? – Thomas M. Hoenig, Federal Reserve Bank of Kansas City
    • India versus China: Who Will Be the Winner in the Long Run? – Hubert Fromlet,  Swedbank, & Blekinge Institute of Technology
  • The Irish Presidency of the EU: Acceptance Speech for the Award Presented by the European Economics and Financial Centre – Bertie Ahern, Prime Minister of Ireland
  • A Framework for Stability in Europe – Otmar Issing, European Central Bank
  • On Enlargement of the European Union: the Hungarian Experience – Peter Adamecz, National Bank of Hungary
  • The Polish Way: From Big Bang Reform to European Union Membership – Krysztof Rybinksi, National Bank of Poland
  • Strategic Issues for China’s Economy – Sean M. Dougherty, OECD Centre for Co-operation with Non-Members, Paris
  • The Euro: Five Years Later – Ben S. Bernanke, Board of Governors of the Federal Reserve System
  • Asian Economies: Meeting the New Global Challenges – M. R. Pridiyathorn Devakula,  Bank of Thailand
  • Co-operation and the Conduct of Economic Policy –  David Dodge, Bank of Canada
  • Benefit-Cost Analysis in the Public Policy Process –  Edward M. Gramlich, Board of Governors of the Federal Reserve System
  • Bank Failure and the Payment System – Thomas Floden, Riksbank 
  • Improving the Efficiency of Primary and Secondary Markets – Peter R. Fisher, U.S. Treasury
  • The Role and Functioning of the Euro in Global Financial Markets – Alison Manning, European Economics & Financial Centre
  • The Euro Moves East – Hubert Fromlet, Swedbank, & Blekinge Institute of Technology, Sweden
  • Enlargement: Seizing the Opportunity – Siim Kallas, Prime Minister of Estonia
  • Financial Stability in Sweden and the Euro – Jonas Niemeyer, Riksbank
  • Latvia for Europe and Europe for Latvia – Andris Berzins, Prime Minister of Latvia
  • EU Enlargement: a Win-Win Undertaking – Algirdas Brazauskas, Prime Minister of Lithuania
  • Ratification of the Treaty of Nice and the Irish Referendum: Recent Experience and Future Prospects – Gerry Hickey, Office of the Prime Minister of Republic of Ireland
  • The Euro and its Prospects following the Launch of the Notes and Coins – Jean-Claude Trichet,  Bank of France
  • Financing Community Development in Inner City America – William J. McDonough, Federal Reserve Bank of New York
  • On Capital Adequacy Framework – Thomas R. Fisher, Deutsche Bank, Frankfurt
  • The Japanese Financial System in the New Environment – Shinichi Yoshikuni, Bank of Japan
  • Capital Markets Development in the Countries of Central and Eastern Europe – H. Gronkiewicz-Waltz,  European Bank for Reconstruction and Development (EBRD), London
  • On the Insurance Function of Fiscal Policy in a Monetary Union – Oscar Bajo-Rubio and Carmen Diaz-Roldan, Public University of Navarra, Spain
  • Analysis and Evaluation of Corporate Bonds – Claus Huber & Helmut Kaiser, Deutsche Bank, & Christoph Klein, Deutsche Asset Management
  • Is the Single Market Delivering? – Romano Prodi, President, European Commission
  • World-Wide Tendencies in Financial Systems – Jean Claude Trichet, Bank of France
  • Key Developments and Prospects of the Irish Economy – Bertie Ahern, Prime Minister of Ireland
  • The U.S. and Japanese Economies: Reflections of a Central Banker – Masaru Hayami, Bank of Japan
  • How Stimulative are Monetary Conditions in Europe and the US? – Bert van den Berg and Arlan Meulen Broek, ABN AMRO Bank, The Netherlands
  • Europe’s Upturn in Growth and Structural Unemployment – Elizabeth Legge, Bank Gesellschaft Berlin, Germany
  • European Bond Indices as a Benchmark for Euroland Bond Portfolios: an Overview and Evaluation – Helmut Kaiser, Deutsche Bank AG, Frankfurt
  • The Fall and Rise of the Czech Economy – S. Gibbs and K. Saroukhanian, Nomura International, London
  • A Global Single Currency: The Inevitable Direction – H. Scobie, European Economics and Financial Centre
  • Securitisation: Potential within the Italian Financial System – G. De Felice, F. Guelpa, & A. Dal Colle, Banca Commerciale Italiana, Milan
  • Corporate Bond Markets and the Euro: Changes can already be seen – Philippe Ithurbide, Societe Generale, Paris
  • Collateral Management in the Euro zone: the European Central Bank’s View – J. M. Godeffroy, European Central Bank
  • Monetary Union and European Securities Markets Implication for Multilateral Issuers – Jon Sigurdsson, Nordic Investment Bank, Helsinki
  • The Implication of EMU for EFTA Countries – Mar Gudmundsson,  Central Bank of Iceland
  • The Relationship of the Yen and Future Euro – Shinichi Yoshikuni, Bank of Japan
  • Challenges of Monetary Policy in the run-up to European Union Accession – Judit Nemenyi, National Bank of Hungary
  • Closer European Integration And The Consequences Of The Single Currency – Antonio Guterres, Prime Minister of Portugal
  • Management of Economic Policies in the Euro Zone – Jean-Luc Dehaene, Prime Minister of Belgium
  • The Euro in the Global Financial Market – Christian Noyer,  European Central Bank
  • EMU and Co-ordination of Economic Policies – Paavo Lipponen, Prime Minister of Finland
  • Reserve Management with the Birth of Euro – H. Scobie, European Economics and Financial Centre
  • US Perspective on the Dollar and the Future Euro – William J McDonough, Federal Reserve Bank of New York
  • Sweden and EMU – Erik Asbrink, Minister of Finance of Sweden
  • Euro Entry into the UK led by British Industry – Colin Marshall, Confederation of British Industry, UK
  • The Challenge of the Euro for Europe – Hans Tietmeyer, Deutsche Bundesbank
  • Crisis of the Emerging Financial Markets: Some Lessons from the Mexican Experience – Jose Julian Sidaoui, Central Bank of Mexico
  • Banking Sector Restructuring in Yugoslavia – Djordje Djukic, National Bank of Yugoslavia
  • EMU Impact upon the Major Financial Markets – Antonio de Sousa Franco, Minister of Finance, Portugal
  • Frankfurt as a Financial Center of Europe – Ernst Welteke, Deutsche Bundesbank
  • The Rationale of EMU for the Financial Markets European Citizens – Jean-Luc Dehaene, Prime Minister, Belgium
  • The European System of Central Banks: A Profile – W.F. Duisenberg, European Monetary Institute, Frankfurt
  • EMU Impact on Financial Markets, Banking and other Financial Activities: The Perspective of Small Countries – Antonio de Sousa, Bank of Portugal
  • The Introduction of the Euro: A German View – G. Michael Roeskau,  Federal Ministry of Finance, Germany
  • Preparing for a Single European Currency and its Consequences – Helmut Schieber,  Deutsche Bundesbank 
  • Germany as a Financial Centre – Uwe E. Flach, DG Bank, Frankfurt
  • Minimising Systematic Risk: a Global Perspective – David Pritchard,  Securities and Investment Board, London
  • Global Capital-raising through Bonds and Equities – Robert B. Gray, International Primary Markets Association
  • Intermarket Relation: Derivatives and Cash Markets – Mary L. Schapiro, NSAD Regulation, Inc.
  • The Open Gilt Repo Market: A Progress Report – Peter B. D’Amario, BZW Capital Markets, London
  • Taxing Interest Income in Integrated Capital Markets: Some Lessons from Recent Experience – Lorenzo Pecchi, Italian Treasury
  • The Operation of Exchange Rate Policy in Stage Three of EMU – Alexandre Lamfalussy,  European Monetary Institute
  • On Sovereign Risk – Lawrence Lindsey, Board of Governors of the Federal Reserve System
  • Adhering to the Convergence Criteria: the Case of Portugal – Vitor Bento, Portuguese Treasury
  • The Road to EMU: an EIB Perceptive – Phillipe Szymczak, European Investment Bank
  • Austria on the Way to EMU – Dietmar Spranz, National Bank of Austria
  • EMU and the Outlook for European Interest Rates –Michael Feeny, Sumitomo Bank, London
  • The Single Currency – The Rt Hon Lord Kingsdown KG, House of Lords, UK
  • The United Kingdom and Europe – Quentin Davies, MP,  UK House of Commons
  • The Cost and Timescale for the Switchover to the European Single Currency – H. Scobie, European Economics and Financial Centre
  • EMU: the Obstacle Race to Success – Philippe Maystadt, Deputy Prime Minister & Minister of Finance and Foreign Trade, Belgium
  • Finland on the Way to the EMU – Arja Alho, Minister of Finance, Finland
  • On Some Prerequisities for a Successful Currency Area – Albert Ando, University of Pennsylvania
  • Some Thoughts on the Monetary Framework in EMU – A.F.P. Bakker, Central Bank of Netherlands
  • The International Competitiveness of European Manufacturing: Evidence from Cost and Price Measures – Jozef Van’t dack, Bank for International Settlements
  • The Role of Central Bank in Developing Financial Markets in Small Economics – Eirikur Gudnason, Central Bank of Iceland
  • Financial System in Transition: The Case of Malta – Francis Vassalo, Central Bank of Malta
  • Monetary Integration in Europe: Past, Present and Future – Helmut Schlesinger, Former President, Deutsche Bundesbank
  • The Advantages of EMU – Jacques Santer, President, European Union
  • The Convergence Criteria for EMU: Do they require revisions, or a more flexible interpretation? – Michel Sapin,  Bank of France, & Former French Finance Minister
  • The Role of the Securities Markets within the Economic Fabric of the European Union – E. Israel, Federation of European Stock Exchanges
  • Perspectives for Monetary and Financial Markets Policy from the Viewpoint of a New Member State – Dietmar Spranz, National Bank of Austria
  • The Belgian Franc and the EMU – J.J. Rey, National Bank of Belgium
  • The ECU in the Operations of European Investment Bank – C. Bruck, European Investment Bank
  • Monetary Policy and Financial Stability in Developing Economics – Chris Stals, Reserve Bank of South Africa
  • Swiss Monetary Policy in the European Environment – Jean Zwahlen, Swiss National Bank
  • The Role of Central Bank Independence: A Point of View from the Spanish Experience – Jose Luis Malo de Molina, Bank of Spain
  • Does Debt Management Matter? A Market-Oriented Response from the Italian Case – Lorenzo Pecchi, Italian Ministry of Treasury & Gustavo Piga, Univeristy of Rome “La Sapienza”, Italy
  • World at the Turn of the Century – Paul Samuelson, Massachussetts Institute of Technology
  • World Economics Outlook – Stanley Fischer, Massachussetts Institute of Technology
  • Italy’s Current Macroeconomic Situation. – Luigi Spaventa, Universita Rome “La Sapienza”, Italy
  • Italian Problems and Prospects – Rudiger Dornbusch, Massachussetts Institute of Technology
  • A Note on Italian Debt Sustainability – Umberto Cherubini and Rony Hamaui, Banca Commerciale Italiana, Milan
  • Transition in Poland – Olivier Blanchard, Massachussetts Institute of Technology
  • Education, Income Distribution and Growth: The Local Connection – Roland Benabou, Massachussetts Institute of Technology
  • German Monetary Policy and the Role of the Bundesbank in the ERM – Bernd Goos, Deutsche Bundesbank
  • Current Issues in Reserve Management – William A. Allen, Bank of England
  • The Macroeconomic Consequences of Federal Borrowing and Deficit Reduction – David Reifschneider, Board of Governors of the Federal Reserve System
  • Polish Reforms: Transforming the Economic System in Poland – Hanna Gronkiewicz-Waltz, National Bank of Poland
  • Managing Economic Co-operation Among Nation States – H. Scobie, European Economics and Financial Centre
  • The EMS Seen from Amsterdam – Coen Voormeulen, Central Bank of Netherlands