1  See A A Weber (2007), From Academic to Policy Maker, CEPR-CEPREMAP Lectures on Policy Making, Paris, 29 May 2007. 2  See C Bean, M Paustian, A Penalver and T Taylor (2010), Monetary Policy after the Fall, Jackson Hole 2010 Symposium Proceedings, Federal Reserve Bank of Kansas City.
BIS central bankers’ speeches  1  Temporary inefficiencies, such as asset price bubbles, were considered possible, but the majority view was that monetary policy could do little to counteract such developments. Microprudential supervision was regarded as a sufficient means of containing risks in the financial sector.