(2010), “Solving the Present Crisis and Managing the Leverage Cycle,” Federal Reserve Bank of New York Economic Policy Review, pp. 101–131. 12  See Fahr S., Motto R., Rostagno M., Smets F. and O. Tristani (2010), “Lessons for monetary policy strategy from the recent past,” paper presented at the 6th ECB Central Banking Conference, Frankfurt am Main, 18–19 November 2010.
13  See Benati L. (2009), “Long-run evidence on money growth and inflation”, ECB Working Paper Series, No 1027. 6  BIS central bankers’ speeches  Economic history tells us that without price stability financial stability is certainly absent.