Therefore, the importance of a new paradigm for new policy operation has been highlighted, and in this sense it is necessary to carry out in-depth studies on the conduct of monetary and macroprudential policies. First, it is urgent to undertake research on how to improve the monetary policy operating framework when central banks implement monetary policies giving attention to financial stability.
Since the crisis, active discussions have been underway on introducing macroprudential policy tools as a way to respond to systemic risks. However, studies on their effects and limits are still ongoing and further clarification is needed as to who should carry out such policies and their precise delineation.