At the cyclical level, fiscal policy can contain the impact of adverse shocks through the operation of automatic stabilisers and, where feasible and effective, through the timing of discretionary fiscal measures. All else being equal, the more fiscal policy contributes to boosting long-term growth potential and providing cyclical stabilisation, the quicker will be the effects of monetary policy interventions on inflation and the economy.
Boštjan Jazbec: The bail-in tool and the challenges to its smooth implementation Address given by Mr Boštjan Jazbec, Governor of the Bank of Slovenia at the Executive Seminar on Banking Resolution, Florence, on 14 July 2016.