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Sources of Financial Instability: Challenges for Monetary and Fiscal Policy | Claudio Borio

Hidden Forces

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Is It a Good Idea to Have a Monetary Policy?

Since the financial crisis, there is a clear recognition within the central banking community that heconomy is not self equally breaking. stable inflation doesn't mean you may not have problems building up on the financial side. Once these financial expansions, financial in balances and wind they can create serious problems for the real economy. All this is an important step forward. What is at stake is the question of how much you should deal with this problem by the mix of moetary policy and what i mentioned earlier, prudential policies.

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