Procyclicality in the Financial System

Amsterdam, The Netherlands

February 9-10, 2009



Participants at this closed meeting held at the Dutch Central Bank reflected on the current economic and financial crisis and how it would likely affect the conduct of monetary policy in the future. One possibility considered was that it might lead to yet another fundamental reexamination of how best to conduct monetary policy in an increasingly globalized world. The role played by money and credit, the interactions between price stability and financial stability were analyzed as were issues of regulation, capital leverage, liquidity and accountability.  

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