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Łukasz Kurowski (2019/4, Articles,
Financial Stability and Monetary Policy after the Global Financial Crisis
Central bank’s involvement in financial stability is no longer questioned. Yet doubts arise when monetary policy instruments are used to reduce financial imbalances. The purpose of the article is to verify whether, after the global financial crisis, central banks use interest rates as a macroprudential instrument. In order to do this, the author extends central bank’s reaction function by (...)
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