Macroprudential policy and productivity: friends not foes

Ellen Ryan

Recent years have seen rising – and well-founded – concerns over European productivity growth. As these concerns grow a suspicion emerges: is regulation to blame for the sluggish economy? This post looks at this question in the context of macroprudential regulation and argues that macroprudential policy can actually support productivity growth, by helping to prevent crises and keep credit flowing where it matters most.

Πηγή: ECB

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