Co-operation matters for macro-prudential impact – BIS paper

The Bank for International Settlements, Basel
Headquarters of the Bank for International Settlements
Photo: Ulrich Roth

Countries can achieve “sizeable” benefits by co-ordinating their macro-prudential policies but may struggle politically to find common ground, according to a working paper published on June 8 by the Bank for International Settlements (BIS).

A team of economists from the BIS, Centre for Economic Policy Research and University of Manchester set up a core-periphery general equilibrium model to test some simplified forms of macro-prudential policy.

They find that, in the presence of financial

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