Tucker: policymakers should focus on resilience and clarity
Central banks would gain legitimacy if they could better explain models of systemic crises – former BoE deputy governor Paul Tucker
Macro-prudential regimes could gain legitimacy if they were more explicit about the thinking that underpins them, former Bank of England (BoE) deputy governor Paul Tucker told a conference organised by the Bank for International Settlements.
On March 31, the BIS published a transcript of the speech, which was originally delivered in October 2016. In it, Tucker said that, although much work had been devoted to the effectiveness of macro-prudential policy, little had been said about what the
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