Bank recapitalisation versus firm support: A fiscal criterion for crisis policy
Governments routinely invest in private firms. This column argues that these investments have powerful effects on an economy’s crisis resilience, and that those effects depend
Macroprudential policy for banks: Build the countercyclical capital buffer when there is headroom for doing so
Numerous central banks started to build the countercyclical capital buffer as bank profitability began to soar during the recent tightening cycle. Recent evidence suggests that
