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مقامات پولی
The main underlying idea is that risk-taking and crisis prevention should be the tasks of both the regulatory and the monetary authorities.
This result suggests that the monetary authorities need to be more vigilant when introducing unconventional policy measures since they could amplify reversal of the desired effect.
Furthermore, our findings call for monetary authorities to pay more attention to financial stability when setting interest rates and suggest that banking supervisors should consider the potential effects of monetary shocks depending on the interest rate regime (low or high) when conducting banking supervision (see also Moraes et al (2016)).
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