Macroprudential measures complement monetary policy: IMF paper
An International Monetary Fund paper published on Tuesday says macroprudential policies can effectively complement, but not replace, monetary policy tools to achieve price stability.
Author Filiz Unsal uses a dynamic stochastic general equilibrium model in an open economy with nominal and real frictions to analyse the interplay between monetary policy and macroprudential regulations. Unsal says while conventional monetary policy maintains its role in counteracting capital flows from exacerbating
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