IMF’s Adrian highlights GaR’s value in scenario analysis
Chief financial counsellor tells Summer Meetings of motivation in developing award-winning framework
The growth-at-risk (GaR) framework can provide central bankers with an empirical tool in the areas of monetary policy and financial stability, the International Monetary Fund’s chief financial counsellor has said.
Delivering the keynote address today (June 12) on the second day of the Central Banking Summer Meetings, Tobias Adrian first explained why he and his fellow researchers had begun working on GaR almost two decades ago. The connection between downside growth risk and financial stability
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