Lamfalussy godfather of BIS’s macroprudence
Alexandre Lamfalussy played a crucial role in shaping the view of financial stability championed by researchers at the Bank for International Settlements (BIS), a new paper from the National Bank of Belgium posits.
The research shows that Lamfalussy's fundamental vision was that the micro- and macro-prudential dimensions of financial stability overlap considerably.
The analysis reveals that while central bankers in the early 1980s paid more and more attention to financial innovations mainly for
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