The effects of the 2008/2009 financial crisis went largely among financial markets and hit the real economy, generating one of the greatest global economic shocks. The purpose of this study is to investigate whether inflation targeting has made a difference during this crisis. First, we put...

In the aftermath of the 2008 global financial crisis, it has been argued that monetary policy should prevent raising financial risk by responding actively to financial imbalances. This paper investigates the extent to which a central bank's reaction to financial instability may be incompatible...

The study examines empirical relationships between income inequality and three features of finance: depth (financial sector size relative to the economy), inclusion (access to and use of financial services by individuals and firms), and stability (absence of financial distress). Using new data...