By Nicholas Apergis, Ahmet F. Aysan, and Yassine Bakkar
To avoid excessively high interest rates, with their impact on financial stability, some central banks desire to use more macroprudential policies in their policy formulations. Nicholas Apergis, Ahmet F. Aysan, and Yassine Bakkar analyse lender-targeted macroprudential policy instruments and borrower-targeted ones and describe their effects during economic upturns and downturns.
Link: Choosing the effective macroprudential policy for financial stability