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FinancialImbalances,
SystemicStress,and
Macroprudential
Implications
KnarikAyvazyanandEtienneB.Yehoue
WP/25/146
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progressbytheauthor(s)andarepublishedto
elicitcommentsandtoencouragedebate.
TheviewsexpressedinIMFWorkingPapersare
thoseoftheauthor(s)anddonotnecessarily
representtheviewsoftheIMF,itsExecutiveBoard,
orIMFmanagement.
2025
JUL
©2025InternationalMonetaryFundWP/25/146
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