Francesco Papadia, (2018), “Macroprudential policy: The Maginot line of financial stability“, Bruegel, 17 Ιανουαρίου
The ability of macroprudential policies to assure financial stability and thus leave central banks free to assign the interest rate tool exclusively to price stability is unproven. As the Maginot line did not protect France from a German invasion in WWII, so macroprudential policy may not be sufficient to counter financial instability. Central banks should prepare to deal with dilemmas in the use of the interest rate.
Σχετικές Αναρτήσεις
- Grégory Claeys, Maria Demertzis, Konstantinos Efstathiou, Inês Gonçalves Raposo, Pia Hüttl, Alexander Lehmann, (2018), «Analysis of development in EU capital flows in the global context», Bruegel, 15 Ιανουαρίου
- Sony Kapoor, (2017), «Euro-Zone Reform Proposals Don’t Go Far Enough», BloombergView, 22 Δεκεμβρίου