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Macro-Financial Stability under EMU

Philip Lane

Economic Papers from Trinity College Dublin, Economics Department

Abstract: This paper examines the cyclical behaviour of country-level macro-financial variables under EMU. Monetary union strengthened the covariation pattern between the output cycle and the Ofinancial cycle, while macro-financial policies at national and area-wide levels were insufficiently counter-cyclical during the 2003-2007 boom period. We critically examine the policy reform agenda required to improve macro-financial stability.

Keywords: EMU; financial stability; macroprudential (search for similar items in EconPapers)
JEL-codes: E50 F30 F32 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-mac, nep-mon and nep-opm
Date: 2015-08
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https://www.tcd.ie/Economics/TEP/2015/TEP0615.pdf

Related works:
Working Paper: Macro-financial stability under EMU (2016) Downloads
Working Paper: Macro-Financial Stability under EMU (2015) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:tcd:tcduee:tep0615

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