Problems of Legitimacy for Central Banks in Democracies with Paul Tucker

University of Chicago Booth School of Business - Stigler Center

Join us for three stand-alone, interrelated lunch seminars with Sir Paul Tucker, Research Fellow at the Harvard Kennedy School, Chair of the Systemic Risk Council, and former Deputy Governor of the Bank of England.
 
All seminars will take place in Harper Center Room 104 from 12-1 pm.
 
LUNCH WILL BE SERVED
 
Monday, May 14: 12–1 pm
Constraining Central Banks in Democracies
<UL>
<LI>The problem of unelected administrative power and (flawed) justifications for it</LI>
<LI>Credible commitment as the key ingredient to constraining administrative power</LI>
<LI>The need for insulation from quotidian politics and the democratic deficit in central banks</LI>
<LI>Why legitimacy matters</LI>
<LI>Tucker’s Principles for Delegation and related implications for antitrust and prudential supervision </LI>
</UL>
<A HREF="https://media.chicagobooth.edu/Mediasite6/Play/9ead24a5d6084bf29f35a752f22c44b31d" TARGET="_blank" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">Watch livestream</A> (For optimal viewing, please consider using Internet Explorer)
 
Tuesday, May 15: 12–1 pm
Applying the Principles for Delegation
<UL>
<LI>How the Principles fit (or don't) with the constitutional structures and norms of the US, UK, and Germany </LI>
<LI>A new non-delegation doctrine for US</LI>
<LI>The difficulty US has in achieving incentives-values compatibility</LI>
<LI>Examples from utility regulation, and the big problem of securities regulation </LI>
</UL>
<A HREF="https://media.chicagobooth.edu/Mediasite6/Play/d08ad438a0d0427c9ffc0ca89311c9fb1d" TARGET="_blank" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">Watch livestream</A> (For optimal viewing, please consider using Internet Explorer)
 
Wednesday, May 16: 12–1 pm
The Post-Crisis Central Banks 
<UL>
<LI>Is monetary policy independence out of date?</LI>
<LI>Balance sheet policy </LI>
<LI>Central banks as lenders of last resort </LI>
<LI>The role of an ethic of self-restraint </LI>
</UL>
<A HREF="https://media.chicagobooth.edu/Mediasite6/Play/52a1b29748e24a6d9710a66c04de6ec01d" TARGET="_blank" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">Watch livestream</A> (For optimal viewing, please consider using Internet Explorer) 
 
Sir Paul Tucker is a research fellow at the Harvard Kennedy School of Government and chair of the Systemic Risk Council. He previously served as deputy governor at the Bank of England and as a member of the G20 Financial Stability Board’s Steering Group, chairing  a group on Too Big To Fail. In 2014, Tucker was knighted by Britain for his services to central banking. His other current activities including being as a director at Swiss Re, a leading global re-insurer, and of the Financial Services Volunteers Corps.
 Sir Paul Tucker’s forthcoming book Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State will be available for purchase and signing.
 
Please be sure to read the notes below for important information regarding attendance at this event.
<UL>
<LI>Pre-registration via this Eventbrite page is required.</LI>
<LI>Doors will open 30 minutes before the event begins. Please arrive early to claim your seat. If you can no longer attend, please <A HREF="https://www.eventbrite.com/support/articles/en_US/How_To/how-to-cancel-your-free-registration?lg=en_US" TARGET="_blank" REL="noopener noreferrer">cancel your ticket order</A> on Eventbrite so others may register.</LI>
<LI>Doors will close 5 minutes before the event. You may be unable to enter the venue after the doors are closed.</LI>
<LI>No banners or signs will be allowed.</LI>
<LI>No large bags will be permitted.</LI>
</UL>
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Disclaimer: Students should never miss class to attend optional programming. The Deans’ Office will not support requests for absences due to participation on a trek, event, conference, or trip as excused.
 
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