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MACRO-FINANCIAL STABILITY POLICY IN A GLOBALISED WORLD: Selected Papers from the Asian Monetary Policy Forum 2021 Special Edition and MAS-BIS Conference

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Since at least the Great Financial Crisis, authorities around the world have increasingly relied on macroprudential policy to help secure financial stability and complement monetary policy as an integral element of a broader macro-financial stability framework. In today's interconnected global financial system, policy actions taken by the major advanced economies can have spillovers on the rest of the world through their impact on capital flows and exchange rates, potentially generating vul...