Discussion Paper

No. 2018-59 | August 03, 2018
The quest for global monetary policy coordination
(Submitted as Global Solutions Paper)


This paper puts forward a proposal to help monetary policies confront the challenge of the “normalisation” of money creation and interest rates. The difficult unwinding of years of unorthodox policies put financial stability at risk in major monetary centres and in EMEs. The authors argue that global coordination is crucial to facing this challenge. They propose to convene appropriate official meetings to coordinate in an explicit, formal, and well-communicated way the process of normalisation and the discussions on the needed long-term changes in the strategy and institutional setting of monetary policies.

JEL Classification:

E51, E58, E61, E63, F33, F42


  • Downloads: 750


Cite As

Franco Bruni, José Siaba Serrate, and Antonio Villafranca (2018). The quest for global monetary policy coordination. Economics Discussion Papers, No 2018-59, Kiel Institute for the World Economy. http://www.economics-ejournal.org/economics/discussionpapers/2018-59

Comments and Questions

Anonymous - Referee report
September 28, 2018 - 13:29

see attached file