1. Can central banks pursue and achieve multiple goals or must they be con?ned solely to ?ghting in?ation? What goals are embedded in the Taylor rule? Discuss.
2. What is the lender-of-last-resort function of the central bank in modern economies? What is its justi?cation? Should commercial bank borrowing from the central bank be a privilege or a right? Discuss.
3. Should the United States and Canada follow the example of Britain in giving the government the power to set the ultimate goal or goals of monetary policy, while leaving the implementation of these to the central bank? Or should Britain follow the example of the United States and Canada on this issue? Discuss.