Synopsis
In this book prominent academics, central bankers and economists from international institutions explore the framework for securing financial stability in a changing environment. The papers focus in particular on the following crucial issues for central banks and regulatory institutions around the world: (i) recent changes in the financial system worldwide - with particular emphasis on financial innovation, deregulation and internationalization; (ii) the rationale for an optimal design of prudential policy; and (iii) the relationship between the two ultimate goals of central banks - price stability and financial stability.
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