Macro-prudential policy can guard against global volatility – BoE paper
Tighter macro-prudential policies appear to reduce the sensitivity of capital flows to global volatility
Macro-prudential policies can help ward off the effects of heightened global volatility on capital flows, according to research published today (October 26) by the Bank of England (BoE).
The financial stability paper, by Glenn Hoggarth, Carsten Jung and Dennis Reinhardt, takes a broad look at capital inflows and how to deal with those that prove less than desirable, particularly debt, which they find is more prone than equity to booms and busts.
Drawing on a database of macro-prudential policies
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