Principal findings of the academic conference held on 13 and 14 October by the National Bank of Belgium on the theme “The transmission mechanism of new and traditional instruments of monetary and macroprudential policy”
A unified monetary policy but national fiscal policies in the euro area: what have we learnt over the last few years?
The financial crisis has led to the adoption of macroprudential policies – also in Belgium - which do interact with monetary policy. This article deals with the interactions and possible conflicts between these two policy domains. We illustrate this by an assessment of the current situation. Although beneficial for macroeconomic and hence financial stability, the impact on financial risk taking of the unprecedented monetary easing requires close monitoring.
Wording has become more important for monetary policy.
Forecasting with a Bayesian DSGE Model: An application to the euro area