Professor Nathan Sussman, Director of the Centre for Finance and Development, presented his research on monetary policy in late Medieval France, a period of monetary experimentation and development.
The Bank of England co-organised a ‘History and Policy Making Conference‘ in late 2020 where Nathan Sussman, Director of the Centre for Finance and Development, presented his research on monetary policy in late Medieval France, a period of monetary experimentation and development.
Professor Sussman demonstrated that the rulers of this period faced similar challenges to those of modern central banks: competition with private monies, no recourse to interest rates as policy tools, and limited use of inside money created by deposit banks. He also addressed the different principles which guided policymakers in addressing these challenges.
About the Conference
The Conference brought together academics and senior policy makers to improve our understanding of just how historical inquiry can help central banks make better decisions.
Questions for discussion included: How can historical inquiry improve policy making and delivery? What methodologies and data are available and what are their strengths and limitations? And what is the evidence base for assessing the current contribution of historically informed inquiry to policy making and execution at central banks?
This event was organized in partnership with the Data Analytics for Finance and Macro (DAFM) Research Centre at King's Business School, KCL and the Qatar Centre for Global Banking and Finance at King's Business School, KCL.