The global financial crisis showed that both authorities and markets failed to properly assess the size and the evolution of the public debt stock in various economies. In some countries the monetary authorities focused excessively on inflation, without taking into account other key...

On 24-25 June 2010, the BIS held its Ninth Annual Conference, on "The future of central banking under post-crisis mandates" in Lucerne, Switzerland. The event brought together senior representatives of central banks and academic institutions who exchanged views on this topic. This volume...