Financial stability and the macroeconomy

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dc.contributor.author Mishkin, Frederic S. is
dc.date.accessioned 2013-12-20T10:32:59Z
dc.date.available 2013-12-20T10:32:59Z
dc.date.issued 2000-05
dc.identifier.issn 1028-9445
dc.identifier.uri http://hdl.handle.net/10802/4745
dc.description.abstract This paper surveys the causes and macroeconomic consequences of financial instability. It emphasizes the key role of asymmetric information in causing financial instability and explores several recent instances of financial crises in industrial and emerging market countries. The paper then discusses the appropriate macroeconomic policies to reduce the risk of financial instability and to promote recovery from financial crises, if they have occurred. It argues that Central Banks should be just as concerned with financial stability as with price stability. It emphasizes that financial stability is by no means incompatible with the goal of price stability. In fact, price stability can promote financial stability since it leads to longer duration debt contracts and a sounder currency. en
dc.format.extent 35 s. is
dc.language.iso en
dc.publisher Central Bank of Iceland, Economics Department is
dc.relation.ispartofseries Central Bank of Iceland., Working papers ; 9
dc.relation.uri http://www.sedlabanki.is/uploads/files/wp9.pdf
dc.subject Fjármál is
dc.subject Peningamál is
dc.subject Peningastefna is
dc.subject Skýrslur is
dc.title Financial stability and the macroeconomy en
dc.type Skýrsla is
dc.identifier.gegnir 991009521289706886


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