In my view, understanding the links between greater concentrations of income, variation in spending patterns throughout the income distribution, and the effect of  1  See Congressional Budget Office (2011), Trends in the Distribution of Household Income between 1979 and 2007 (PDF) (Washington: CBO, October).
BIS central bankers’ speeches  3  fast-moving innovation and a more gradual integration process, it would seem to offer greater potential and to be better than trying out a multitude of national approaches that are difficult to harmonise at a later stage. Thank you very much for your attention. 4  BIS central bankers’ speeches