Lessons for CESEE Countries
Edited by Ewald Nowotny, Doris Ritzberger-Grünwald and Peter Backé
Chapter 16: How to deal with the financial cycle: the case of Serbia
This chapter aims to explore the latest business and financial cycles, their relationship, and the policy response which reduces the amplitudes of the cycle. I present risks and challenges of both the boom and the bust phase, as well as the effectiveness of the policy response (countercyclical measures) applicable in those periods. Finally, I discuss the upcoming opportunities and challenges, along with the possible future steps. Although some theoretical aspects are briefly presented, the focus is on practical experience, in particular the case of Serbia.
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