Indeed, property booms are perhaps the most common macroprudential challenge that have confronted financial authorities in advanced economies over the years, although macroprudential challenges  to eight quarters of the scenario that increases between 3 percentage points and 5 percentage points, which is the amount by which unemployment has increased in the most recent three severe recessions.
While the agenda covers the most current economic and financial topics, as usual, the aim is more ambitious: to see beyond the short term; to look through the economic cycle into the medium term, anticipating the challenges that we have in face. The international crisis triggered economic policy responses that were both suited and aggressive. And we have learnt from this framework.