How might a properly constructed systemic risk authority use its expertise and authorities to help monitor, assess, and mitigate potentially systemic risks within the financial system? There are numerous possibilities. One area of natural focus for a systemic risk authority would be the stability of systemically critical financial institutions.
2  The Phillips curve in monetary policy research  2.1  Monetary policy design and challenges in a low-inflation environment  As a starting point, let me go into slightly more detail concerning the lessons learnt over the past few decades. It is indeed the case that various institutional changes in monetary policymaking can be traced back to research on the Phillips curve.