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URL:https://lectures.london/london-school-of-economics/the-quiet-erosion-o
 f-central-bank-independence/calender.ics
NAME:Lectures London
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UID:62b47599-7fe1-43a6-b6a6-22ff70ea2536
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DTSTAMP:20260507T065627
DTSTART:20260507T170000
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SUMMARY:The quiet erosion of central bank independence
LOCATION:London School of Economics: In-person public event (Old Theatre\,
  Old Building)
DESCRIPTION:Thursday 7 May 2026 6pm - 7.30pmSpeakerIsabel SchnabelChairMar
 tin OehmkeJoin us for the Fifth Annual Charles Goodhart Lecture\, which wi
 ll be delivered by Isabel Schnabel from the European Central Bank.Central 
 bank independence has come under increasing pressure in recent years. Whil
 e direct political interference has attracted most of the attention\, more
  serious and enduring threats to central bank independence are gradually e
 volving. Rising sovereign debt is quietly eroding the space within which m
 onetary policy can operate effectively\, increasing the risk of fiscal dom
 inance. Simultaneously\, the renewed momentum for financial deregulation r
 isks creating the conditions for financial dominance – the implicit prio
 ritisation of financial stability over price stability. Preserving indepen
 dence in this environment requires sustainable public finances\, a resilie
 nt financial system and central banks that adhere firmly to their mandates
 . The alternative – implying independence de jure but not de facto – w
 ould lead to higher inflation\, lower growth and financial instability\, t
 hereby undermining central banks’ core promise to ensure macroeconomic s
 tability.Meet our speaker and chairIsabel Schnabel has been a Member of th
 e Executive Board of the European Central Bank (ECB) since 2020 where she 
 is responsible for Market Operations\, Research and Statistics. She is cur
 rently on leave from the University of Bonn\, where she has been Professor
  of Financial Economics since 2015. From 2014 to 2019 she served as a memb
 er of the German Council of Economic Experts. She also served as Co-Chair 
 of the Franco-German Council of Economic Experts and Vice Chair of the Adv
 isory Scientific Committee (ASC) of the European Systemic Risk Board (ESRB
 ). Isabel Schnabel studied economics at the Universities of Mannheim\, Par
 is (Sorbonne) and Berkeley. She holds a PhD in Economics from the Universi
 ty of Mannheim. Her research focuses on financial stability\, banking regu
 lation\, central banking\, international capital flows and economic histor
 y.Martin Oehmke is Professor of Finance at LSE. Martin received his PhD in
  Economics from Princeton in 2009. Before joining LSE in 2015\, he was the
  Roger F. Murray Associate Professor of Finance at Columbia Business Schoo
 l. He serves on the advisory scientific committee of the European Systemic
  Risk Board. His research interests are sustainable finance\, financial re
 gulation and corporate finance and banking.More about this eventThe Lectur
 e Series in Honour of Charles Goodhart was set up in 2022 to honour Charle
 s Goodhart\, eminent economist and Emeritus Professor at LSE. Charles was 
 instrumental in the founding of the Financial Markets Group more than 35 y
 ears ago. Charles Goodhart was appointed to the Norman Sosnow Chair of Ban
 king and Finance at LSE in 1985\, until his retirement in 2002 when he bec
 ame Emeritus Professor of Banking and Finance. He was elected a Fellow of 
 the British Academy in 1990\, and awarded the CBE in 1997\, for services t
 o monetary economics. During 1986\, he helped to establish the Financial M
 arkets Group at LSE. For the previous 17 years he served as a monetary eco
 nomist at the Bank of England\, becoming a Chief Adviser in 1980. Followin
 g his advice on overcoming the financial crisis in Hong Kong in 1983\, he 
 subsequently served on the HK Exchange Fund Advisory Committee until 1997.
  The same year he was appointed one of the four independent outside member
 s of the newly-formed Bank of England Monetary Policy Committee. He became
  an economic consultant to Morgan Stanley in 2009\, until he resigned\, at
  the age of 80\, in 2016. Charles has written widely on matters relating t
 o monetary policy\, especially central banking\, and macro-economics. He i
 s the author of Goodhart's Law "that any observed statistical regularity w
 ill tend to collapse once pressure is placed upon it for control purposes.
 "The Financial Markets Group (@FMG_LSE) is a leading centre for research i
 nto financial markets. Research at the FMG examines how stable and efficie
 nt the financial system is\, how it supports the real economy\, and what p
 olicy measures can generate improvements in these dimensions.Whilst we are
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URL;VALUE=URI:https://www.lse.ac.uk/events/open/fifth-annual-charles-goodh
 art-lecture
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