Central bankers should expand their research into the effectiveness of macroprudential policy tools and their interplay with monetary policy, according to a literature review on macroprudential policy published Wednesday by the Bank for International Settlements (BIS).
The paper, by Gabriele Galati of the Netherlands Bank and Richhild Moessner of the BIS, flagged the degree to which there has been a spurt of interest and work on the topic since 2008. Data from search engine Google, and LexisNexi
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