A ‪joke‬ from Mario Draghi, the President of the European Central Bank ;-)

mario-draghiA man needs a heart transplant. Says the doctor: “I can give you the heart of a five-year old boy.” 
“Too young.”
“How about that of a forty-year old investment banker?”
“They don’t have a heart.”
“A seventy-five year old central banker?” 
“I’ll take it!”
“But why?”
“It’s never been used!”

For a more serious account see:  The Political Economy of European Banking Union (Howarth and Quaglia 2016) or The Political Economy of Monetary Solidarity: Understanding the Euro Experiment (Schelkle 2017) or Political Economy of Central Banking (Epstein 2019)

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  1. Hello, do any economists run sandbox tests for a particular theory against current trends or events? For example like a more programmable approach to solving inflation or deflation problems? The other question is there are a few analysis that talk about a ‘natural’ approach to monetary policy can you explain or link to this – supply chain issues resolving if left alone? Also, thanks for Mario’s clever joke and how timely, eyes on Italy 😉

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