This blog is based on a presentation made by Ceyhun Elgin at the SEACEN online course “Practical use of AI in monetary policy” on 28-30 April 2026. The Falling Cost of Cognition: Why Central Banks Must Rethink the AI Shock Artificial Intelligence (AI) is often discussed as a futuristic marvel or a tool for specialised […]
Tag Archives: central banking
Human Capital, Leadership
Central Banks as Architects of Resilience: Why Governance, Independence, and Law Matter More Than Ever
05
May
May
The world of central banking is being reshaped at an unprecedented pace. Technological disruption, climate-related risks, and shifting geoeconomic dynamics are not only redefining the operating environment, but also fundamentally altering what is expected of central banks. In this context, central banks are increasingly called upon to act as “architects of resilience,” navigating a multitude […]
Macroeconomics and Monetary Policy
Global population is aging but a silver dividend may be the silver lining
21
Apr
Apr
This blog is based on Pension Research Council Working Paper 2025-05 “Global Aging and Growth: Is There A Silver Dividend?” In the long run, the demographic transition toward aging populations is an inevitable global phenomenon. According to UN definition, 7% to 14% of the population is 65 years old or older in aging societies. Even […]
Macroeconomics and Monetary Policy
Regional Monetary and Financial Cooperation in Asia: Progress So Far and the Way Forward
05
Mar
Mar
Introduction Since the Asian financial crisis of 1997-98, emerging and developing economies (EMDEs) in Asia have strengthened their resilience to external financial shocks by upgrading macroeconomic management frameworks, reforming financial sectors, accumulating FX reserves, making exchange rates more flexible, avoiding excessive short-term dollar inflows, and introducing a regional financial safety net and surveillance process. As […]
26
Feb
Feb
This blog is based on a presentation made by Hanno Lustig at the SEACEN Policy Summit on 5-6 February 2026. For much of the postwar era, the supremacy of the U.S. dollar has been treated as a permanent feature of the international monetary system. However, recent shifts in global finance suggest that we are entering […]
Macroeconomics and Monetary Policy
Rethinking the Dollar: The International Monetary System at a Crossroads
26
Feb
Feb
This blog is based on a presentation made by Jeffrey Frankel at the SEACEN Policy Summit 2026: The Future of the International Monetary System and the Role of Asia (5– 6February 2026). The Dollar’s Legacy and Its “Exorbitant Privilege” The U.S. dollar supplanted the British pound as the dominant international currency in the 20th century. […]
20
Feb
Feb
Stablecoins have become one of the most debated topics in contemporary financial policymaking, especially following the enactment of the GENIUS Act in the United States. Beyond the U.S.—and outside monetary jurisdictions whose exchange rate regimes and monetary policies are closely aligned with the U.S. dollar—policy responses have diverged significantly, ranging from outright bans, as in […]
Macroeconomics and Monetary Policy
Not All Fiscal Cuts Are Created Equal: Why Fiscal Multipliers Matter for Central Banks?
05
Dec
Dec
1. Introduction: Why Fiscal Multipliers Matter for Central Banks? As of September 2025, global public debt soared to $251 trillion, roughly 235% of world GDP (IMF, 2025). Across Asia, governments are under pressure to tighten their budgets to ensure debt sustainability. However, for central banks charged with safeguarding economic and price stability, how those fiscal […]
Financial Stability
The Adoption of AI in SEACEN Member Central Banks and Considerations for Financial Stability
21
Nov
Nov
The purpose of this blog is to explore the adoption of AI in SEACEN’s member central banks (MCBs) and explore the risks to financial stability, and how central banks and regulators should respond.
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