IMF paper finds macro-prudential policy can offset loss of monetary autonomy
If used correctly, macro-prudential policy can supplement monetary policy and boost overall welfare in the eurozone, a working paper published yesterday by the International Monetary Fund (IMF) has found.
In Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area, authors Dominic Quint and Pau Rabanal calibrate a dynamic stochastic general equilibrium (DSGE) model of the eurozone, with core and periphery countries tied to centrally determined monetary policy, and a macro
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