Christophe Chamle|Regimes of Fiscal and Monetary Policy in England during the French Wars (1793-1821

2018Year9moon27On [date], the Center for International Finance and Economics Research (CIFER) of the National Academia Sinica at Tsinghua University successfully hosted the "CIFERMacroeconomics and International EconomyWorkshopProfessor at Boston University, renowned economistChristophe ChamleyInvited to the center, he had in-depth discussions with experts and scholars from Tsinghua University, Peking University, and other universities on his latest research topics.

Christophe ChamleyAt1977He received his Ph.D. from Harvard University in 2008, with research interests spanning information economics, public economics, macroeconomics, monetary theory, and development economics (CV attached).ChristopheThe professor shared a presentation titled’Regimes of Fiscal and Monetary Policy in England during the French Wars (1793-1821)’ The academic report (PPT attached). First,ChristopheThe professor briefly reviewed the history of the Bank of England and summarized its role during the French War; subsequently,ChristopheThe professor divided the French War into1793-1797、1797-1811、1812-1815、1815-1821These four phases are described in detail, with the Bank of England's main policy operations at each phase focusing on four aspects: tax smoothing, the gold standard, government debt, and the central bank's balance sheet. Finally...ChristopheThe professor, drawing on current economic realities, recounted the process by which the Bank of England reduced the size of its balance sheet after the French War.

ChristopheThe professor reviewed the policy evolution of a country's central bank in a specific historical period from his unique perspective, and his research findings have important implications for the normalization of monetary policy by central banks in various countries in the post-financial crisis era.