Macroprudential Policy and Practice (Macroeconomic Policy Making)

JNC Academic Books Verified independent store

→

Cambridge University Press, 8/23/2018EAN 9781108419901, ISBN10: 1108419909Hardcover, 322 pages, 23.5 x 15.5 x 2.2 cmLanguage: EnglishMacroprudential policy is perhaps the most impo rtant new development in central bank policymaking circles since the global financial crisis, and reliance on such policies has continued to spread. The crisis, which showed the limits of conventional monetary policy as a tool to deal with financial stability, forced a wide-ranging rethink of economic policies, their interactions and their repercussions. It has led to new forms of intervention, of regulation and of supervisory practice. Macroprudential regulation is now one of the most important topics in modern macroeconomics, because it concerns measures put in place to reduce the risks and costs of the instability caused by financial crises. Written by senior figures from the worlds of academia and banking, this volume combines theoretical approaches with hard evidence of the policy's achievements in many countries. It is the first in-depth analysis of macroprudential instruments for policymakers, banks and economists.Introduction1. The macroeconomics of macroprudential policies Philip Turner2. A liquidity-based approach to macroprudential policy Jean-Pierre Landau3. Financial intermediation and monetary and macroprudential policies Stefano Neri4. The new art of central banking Jagjit S. Chadha5. The macroprudential countercyclical capital buffer in Basel IIIimplications for monetary policy José A. Carrasco-Gallego and Margarita Rubio6. On the use of monetary and macroprudential policies for small open economies F. Gulcin Ozkan and D. Filiz Unsal7. Capital flows and macroprudential policya framework for emerging Asia Matteo F. Ghilardi and Shanaka J. Peiris8. Macroprudential policy in a globalised world Dennis Reinhardt and Rhiannon Sowerbutts9. Systemic risk of European banksregulators and markets Maarten R. C. van Oordt and Chen Zhou10. Macroprudential tools of systemic risk analysis Marcin Łupiński11. When is macroprudential policy effective? Chris McDonald12. Macroprudential policypractice ahead of theory and a clear remit Richard BarwellIndex. Show more