Pursuits
We’re All Macroprudentialists Now as Bubble Policy Dawns
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Thirty-five years ago this month, a U.K. central banker by the name of Peter Cooke was worrying about a surge in lending to developing countries.
Could such capital flows eventually threaten overall economic growth and market stability? he asked as he chaired a June 28-29, 1979, meeting of international bank regulators. Could they pose a “macroprudential” problem?