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Real Implications of Bursting Asset Price Bubbles in Economies with Bank Credit [PDF]

open access: yes
We study the consequences of equity mispricing (a bubble) and the correction thereof (the bubble bursting) for real activity in a production economy.
Alexis Derviz
core  

Implementing the macroprudential approach to financial regulation and supervision. [PDF]

open access: yes
There is now a widespread recognition in the policy community of the need to strengthen the macroprudential orientation of financial regulatory and supervisory frameworks. At the same time, the usage of the term “macroprudential” remains ambiguous.
Borio, C.
core  

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