Bank of Spain paper looks at macro-pru and growth at risk
Financial cycle, time elapsed and type of measure has major impact on effectiveness – researcher
Policy-makers should choose which macro-prudential measures they use based on where their country is in its financial cycle, a working paper published by the Bank of Spain argues.
In The benefits are at the tail: uncovering the impact of macro-prudential policy on growth-at-risk, Jorge Galán attempts to bring together recent macroeconomic research in two fields.
He looks at literature on the impact of macro-prudential policy and on “growth at risk”, and attempts to find ways in which they
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