The 21st century central bank must meet external scrutiny and live within constraints. How to do that from a policy perspective is relatively well understood. But accountability demands that central banks also demonstrate management effectiveness and efficiency. And to attract talented people, central banks must lead and manage those people well. What management practices should a 21st century central bank apply, and how?
John Mendzela’s article for the Central Banking journal appeared in May 2006 and is under copyright. If you use or quote from this material please attribute it to the author and publisher.