Macro-prudential policy has not been properly thought through and may require redesign, a group of economists including former Bank of England (BoE) deputy Paul Tucker warned today (September 25).
Economists have an inadequate understanding of how the policies operate, Tucker told an audience at a conference in London. "We do not even know the sign," he said. Because central bank statements regarding financial stability contain private information about the state of the banking system, markets'
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