EP10: Manuela Moschella - Central Banking

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In this episode, Prof Aidan Regan sat down with Prof Manuella Moschella to discuss her book project on the brave new world of central banking. The book argues that the financial crisis spurred central banks across the world to act irresponsibly by committing huge sums of public money to save the private sector. This was an unintended consequence of the crisis. But it now means that the credibility of central bankers as "independent technocrats" with no role to play in distributing economic resources is tarnished. Aidan and Manuella ask if central bankers are now directly involved in distributional politics, what does this mean for the future of central banking? Will central banks try to rebuild their reputation as independent technocrats? Or will they start getting involved in new forms of economic decision making, including, but not limited to, tackling climate change?Manuela Moschella is Associate Professor of International Political Economy at the Scuola Normale Superiore. Her research focuses on the relationship between technocracy and politics, the role of institutions and economic ideas in economic policymaking, the politics of macroeconomic and financial regulatory choices, and the behaviour of international organisations.Ongoing research projects examine monetary policy convergence in the advanced economies and the political determinants of international macroeconomic cooperation.Prof Moschella is interested in supervising empirically-oriented, comparative research in areas related to International organisations and negotiations; The politics of macroeconomic decision-making and financial regulation; European Monetary Union