Is the counter-cyclical toolbox incomplete?

Is the counter-cyclical toolbox incomplete?


In the debate that followed the financial crisis, the introduction of counter-cyclical measures has been advocated as one of the possible solutions to the risk of pro-cyclicality in the financial system. Various proposals have been put forward  and in December 2009, the Basel Committee on Banking Supervision published a consultative document that addresses this issue.

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Is the counter-cyclical toolbox incomplete?

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