CENTRAL BANKS, FISCAL AUTHORITIES AND REGULATORY BODIES GOVERNING FINANCIAL MARKETS
DORIN DOBRISANABSTRACT. Reddy writes that there is greater coordination between central banks, fiscal authorities and regulatory bodies governing financial markets. Berger et al. maintain that by adopting a pro-active strategy monetary policymakers aim at avoiding a future credit crunch in the first place. Aysan writes that the volatility and capital market imperfection follow a nonlinear path. Gnan and Valderrama argue that the effect of the domestic output gap on inflation in the euro area weakened markedly over time.