Financial taxes can bolster macro-prudential policy, says IMF paper

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Simple taxes on key financial ratios can help broaden macro-prudential policy frameworks in Korea, according to an International Monetary Fund paper published on January 24.

Ali Alichi, Sang Chul Ryoo and Cheol Hong, the paper's authors, use Korean data from 2002 to 2010 to develop a conceptual model that serves as a building block for the broader framework of macro-prudential policy-making in Korea. The authors note that while the Korean banking system has shown resilience to many shocks since

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