In this paper I discuss various underlying aspects of the linkage between monetary and financial stability and a number of central issues that still need to be analysed further, particularly in relation to the practical significance of risk-taking behaviour in reshaping the workings of the...

This book aims to analyse various policy theories and practices applied by central banks as well as the institutional arrangements underlying the principles of good governance in terms of policymaking. In other words, this book explores the synthesis between theories, practices and institutional...

Feng Zhu (2015) has delivered sound research on the equilibrium real interest rate and its implication for monetary policy in Asia-Pacific countries. I fully concur that the use of the natural interest rate framework to implement monetary policy poses many risks, given the numerous uncertainties...