The workshop will discuss the development of granting an increasing number of administrative authorities independence, examine the place which these bodies occupy in the constitutional arrangement, and their legitimacy. It is arranged by BI Norwegian Business School, Inland Norway University of Applied Sciences and University of Oslo. It is a part of the research project Central Banks’ expanded role in financial markets, which is funded by Finansmarkedsfondet and managed by the Norwegian Research Council.
The workshop will discuss central banks’ expanding roles, independence and control mechanisms. Amongst other issues, it will examine the historical origin of central bank independence, to what extent are courts and tribunals willing to review the legality of central banks’ decision making, and how is this influencing central banks policies, as well as what alternative mechanisms for checks and balances of central bank policies exist.
How should central banks deal with the current climate crisis? Does a broader role for central banks in questions related to the climate crisis require rethinking their independence from democratic politics or does it fit within their current mandate? And if central banks have a role to play with regards to the climate crisis, are the tools available good enough?