This paper revisits Keynes's writings from Indian Currency and Finance (1913) to The General Theory (1936) with a focus on financial instability. The analysis reveals Keynes's astute concerns about the stability/fragility of the banking system, especially under deflationary conditions. Keynes's...

In this speech, Paul Tucker, Executive Director for Markets and Monetary Policy Committee member, sets out some thoughts on why money and credit matter for monetary policy making. Though particularly relevant given the current turmoil in banking and capital markets, and in understanding his...