Abstract
I organize my comments around four issues relating to the build-up, monitoring and counteraction of financial imbalances: first, the potential role of monetary policy; second, the use of prudential instruments; third, the effects of taxation; fourth, the institutional set-up for preserving financial stability.
The views expressed are those of the author and do not necessarily reflect those of the BIS.
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Notes
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Gudmundsson, M. (2006). Comments on “Procyclical Financial Behavior: What Can Be Done?”. In: Gerlach, S., Gruenwald, P. (eds) Procyclicality of Financial Systems in Asia. Procyclicality of Financial Systems in Asia. Palgrave Macmillan, London. https://doi.org/10.1057/9781137001535_10
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DOI: https://doi.org/10.1057/9781137001535_10
Publisher Name: Palgrave Macmillan, London
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