22 Clerc, L., A. Derviz, C. Mendicino, S. Moyen, K. Nikolov, L. Stracca, J. Suarez and A. P. Vardoulakis (2015),  “Capital Regulation in a Macroeconomic Model with Three Layers of Default”, International Journal of Central Banking, pp. 9-63. 23 See: Blanchard, O. (2016), “Do DSGE models have a future?”, Peterson Institute for International Economics  Policy Brief 16, 11 August; Blanchard, O.
(2016), “Further Thoughts on DSGE Models”, Peterson Institute for International Economics Realtime Economic Issues Watch, 3 October ;Blanchard, O. (2017), “The need for different classes of macroeconomic models”, Peterson Institute for International Economics Realtime Economic Issues Watch, 12 January. 6/6  BIS central bankers' speeches