Macro-prudential research builds ‘analytical foundation’ for EU policy

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European Central Bank (ECB) vice-president Vitor Constâncio today praised a four-year research project for building an "analytical foundation" for macro-prudential policy in the European Union (EU) – but warned that short-term decisions will still rely on "incompletely tested theories and sometimes precarious econometric evidence".

The European System of Central Banks (ESCB) – consisting of all the EU central banks – set-up a ‘research network' in 2010 to create "conceptual frameworks, models an

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