Macroprudential Policy in a Monetary Union
Using a simple New Keynesian model of a monetary union that incorporates financial frictions, we show that country-targeted macroprudential policy could complement a single monetary policy at the union level. In particular, macroprudential policy helps taming financial and economic imbalances in the...
Main Authors: | , |
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Format: | Article |
Language: | English |
Published: |
Palgrave Macmillan Ltd.
2019
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Subjects: | |
Online Access: | View Fulltext in Publisher |