Brzoza-Brzezina, Michał; Kolasa, Marcin; Makarski, … - In: Journal of International Money and Finance 51 (2015) C, pp. 137-154
Since its creation the euro area suffered from imbalances between its core and peripheral members. This paper checks whether macroprudential policy applied to the peripheral countries could contribute to providing more macroeconomic stability in this region. To this end we build a two-economy...