12  The IMF recently discussed tools to build resilience and lean against excesses (and provided a broad overview of macroprudential tools and their interaction with other policies, including monetary policy); see International Monetary Fund (2013), Key Aspects of Macroprudential Policy (PDF) (Washington: IMF, June 10).
In other words, we proposed a model were money and securities constitute a flow through a network of participants. The solution we were looking for could be obtained by maximizing these flows quickly and applying the results immediately to the participants’ balances.