Publications of Charles Goodhart

This paper proposes a measure of financial fragility that is based on eco- nomic welfare in a general equilbrium model calibrated against UK data. The...

A central bank will usually be primarily concerned about three aspects of stability. These are the maintenance of: (1)  domestic price stability, (2)  external stability of the value of the currency, and (3)  overall systemic stability in the financial system.

There are long, (and often variable), lags between a change in interest rates and its effect on real output and inflation. Hence policy should be...

Per Jacobsson Lecture delivered by Charles Goodhart at the LSE in September 2004.

The objective of this paper is to propose a model to assess risk for banks. Its main innovation is to incorporate endogenous interaction between banks...

The purpose of our work is to explore contagious financial crises. To this end, we use simplified, thus numerically solvable, versions of our general...

Our procedure here is to try to reconstruct a typical bank portfolio for a country and then, holding the presumed loan book unchanged over time, (i.e...

A Monetary Conditions Index (MCI), a weighted average of the short-term real interest rate and the real exchange rate, is a commonly used indicator of...

In this paper we assess the performance of the New Keynesian IS Curve for the G7 countries. We find that there is an IS puzzle for both the purely...

This paper tries to provide a simple explanation for the empirical finding, documented here and also by Hau, Killeen and Moore (2002), that spreads in...

It is our view that the Basel Committee for Banking Supervision, in its Basel II proposals, has failed to address many of the key deficiencies of the...