International financial positions and macroprudential policy
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Malmierca, M: International financial positions and macroprudential policy, International Review of Economics & Finance, Volume 76, 2021, Pages 1034-1062. https://doi.org/10.1016/j.iref.2021.07.013.
The increasing financial integration in the Euro Area brings numerous advantages for the national and worldwide economies. However, it also entails the risk of fast crisis contagion and widespread economic and financial destabilization. Thus, there is an important role for macroprudential policy in this context, to ensure a sustainable and stable financial integration. But the economic and financial stabilization properties and spillovers of macroprudential regulation vary across borders. Using ...