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Monetary policy and social responsibility

Author

Listed:
  • Guillaume Vallet

    (CREG - Centre de recherche en économie de Grenoble - UGA - Université Grenoble Alpes)

  • Louis-Philippe Rochon

    (Laurentian University)

Abstract

This entry deals with the underestimated issue of central banks' social responsibility. We explore this issue emphasizing that in order to endorse social responsibility, central banks need to fit a contingent environment, both through the nature of their monetary policy, but also through their structures. Such an ‘embeddedness' implies that their power should be regulated and controlled by society through a reliable framework of social responsibility. To that aim, we propose reforms in central banks' current model consistent with the mapping out of a new framework of social responsibility.

Suggested Citation

  • Guillaume Vallet & Louis-Philippe Rochon, 2023. "Monetary policy and social responsibility," Post-Print halshs-04205090, HAL.
    • Handle: RePEc:hal:journl:halshs-04205090
    DOI: 10.1016/B978-0-44-313776-1.00061-1
    as

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