This joint BIS-CEPR-ESRC eBook looks at the UK’s medium-term growth prospects and the role that policy might have in shaping the economy’s growth trajectory once it emerges from recession.

There is now a growing consensus among policymakers and academics that a key element to improve safeguards against financial instability is to strengthen the “macroprudential” orientation of regulatory and supervisory frameworks. This column explains the approach and various issues that regulators must address to implement it.