Policy reforms aimed at boosting long-run growth often have side effects – positive or negative – on an economy … reconsideration of the role growth-promoting policies play in shaping the vulnerability and resilience of an economy to macroeconomic … growth – contained in Going for Growth and the Economic Outlook – and attempts to establish whether they underpin …

This paper explores the relationship between policy settings and extreme positive and negative growth events, what we … spending in active labour market policies tend to experience less severe negative growth shocks (negative tail risk). Second …, greater use of macro-prudential tools is generally associated with less extreme positive growth shocks (positive tail risk …