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Great Power, Great Responsibility: Addressing the Underestimated Issue of Central Bank’s Social Responsibility

Author

Listed:
  • Guillaume Vallet

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

Abstract

This paper deals with the neglected issue of central banks' social responsibility. Since central banks exert the "structural power" on economies as well as on societies, their power should be regulated and controlled by society through a reliable framework of social responsibility. To that aim, this article sheds light on the ‘why' and the ‘how' of central bank's social responsibility: I suggest reforms in order to increase central banks' social legitimacy, while being consistent with the mapping out of a new framework of social responsibility.

Suggested Citation

  • Guillaume Vallet, 2021. "Great Power, Great Responsibility: Addressing the Underestimated Issue of Central Bank’s Social Responsibility," Post-Print halshs-03355045, HAL.
    • Handle: RePEc:hal:journl:halshs-03355045
    DOI: 10.2478/jcbtp-2021-0022
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    Cited by:

    1. Darell Edmond & Vijay Prakash & Lalit Garg & Seema Bawa, 2022. "Adoption of Cloud Services in Central Banks: Hindering Factors and the Recommendations for Way Forward," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 11(2), pages 123-143.

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