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Authors
Affiliations
1 Presidency College, Kolkata, IN
Source
Journal of Indian School of Political Economy, Vol 27, No 2-4 (2015), Pagination: 427-431
Abstract
Among the issues raised by Prof. Nachane in his exhaustive and thought-provoking discussion of the post-2008 thinking on financial stability, I shall consider only those that mark a major departure from the pre-crisis conventional wisdom. The most important of these issues relate to macro-prudential policies and may be classified, following Prof. Nachane, under these groups:
(a) monetary policy response to asset price bubbles;
(b) pro-cyclicality of bank credit; and
(c) international policy coordination.