For example, there is evidence that some elements of unconventional monetary policy in advanced economies have accentuated the pro-cyclicality of capital flows, in particular to emerging market economies. The timing of an exit from unconventional monetary policies has been called into question.
The broad spectrum of subjects to be discussed today ranges from theoretical considerations about optimal fiscal and monetary policy co-ordination, the role of monetary and fiscal stabilisation policies up to empirical evidence on the interaction between monetary and fiscal policies.