This paper is an extended and updated version of the lecture given at the National Bank of Kazakhstan on May 6, 2008. I would like to thank Joan Hortalà for his helpful comments to an earlier version of the paper, and to Santiago Chamorro, Aquil·lí Mata, Grigory Marchenko and Kuat Kozhakhmetov for many useful comments and suggestions.
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Vol. 32. Issue 88.
Pages 283-298 (January - April 2009)
Vol. 32. Issue 88.
Pages 283-298 (January - April 2009)
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Financial Stability and Central Banking
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Eduard Berenguer
Depatament de Teoria Econòmica. Universitat de Barcelona
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