ECB paper says regional macro-prudential tools would mitigate eurozone imbalances
Applying macro-prudential tools on a regional basis would help to address the imbalances between eurozone countries, according to a European Central Bank working paper published earlier this week.
In Macro-prudential policy instruments and economic imbalances in the euro area, Michał Brzoza-Brzezina, Marcin Kolasa and Krzysztof Makarski observe that, since the eurozone was established, large imbalances have built up between its members, most notably in their housing markets.
In the periphery –
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