Will macroprudential policy counteract monetary policy’s effects on financial stability? Bruegel Working Paper Issue 01 / 2018 [PDF]
, 2018 HHow does monetary policy impact upon macroprudential regulation? This paper models monetary policy’s transmission to bank risk taking, and its interaction with a regulator’s optimization problem.
Agur, Itai, Demertzis, Maria
core
The Monetary Policy–Commodities Nexus: A Survey
Journal of Economic Surveys, EarlyView.ABSTRACT This survey synthesizes evidence on the bidirectional links between commodity markets and monetary policy. On the commodities‐to‐policy side, we review how shocks to energy, food, and metals pass through to inflation, inflation expectations, economic activity, and financial stability in state‐dependent ways that vary by shock type, exposure ...
Martin T. Bohl +2 more
wiley +1 more source
Macroprudential policy measures: macroeconomic impact and interaction with monetary policy [PDF]
, 2020 Gabriele Cozzi +9 more
openalex +1 more source
Leverage ratio and its impact on the resilience of the banking sector and efficiency of macroprudential policy [PDF]
, 2017 Basel III responded to the financial crisis by redefining and expanding the capital requirements for risk-weighted assets and by proposing the introduction of a leverage ratio which sets a minimum level of capital for banks in relation to total exposures.
Hodula, Martin +3 more
core
Monetary Policy, Inflation, and Crises: Evidence from History and Administrative Data
The Journal of Finance, EarlyView.ABSTRACT We show that a U‐shaped monetary rate path increases banking crisis risk, via credit and asset price cycles, analyzing 17 countries over 150 years. Rate hikes (raw or instrumented) increase crisis risk, but only if preceded by prolonged cuts. These patterns are unique to banking crises, unlike noncrisis recessions.
GABRIEL JIMÉNEZ +3 more
wiley +1 more source
REFLECTIONS ON THE CREATION OF A NEW ARCHITECTURE OF THE MONETARY AND MACROPRUDENTIAL POLICY PROCESS* [PDF]
Economica, 2019 The article explains the conceptual principles of macro-prudential policy, a new political focus. Such a political concept involves four steps: defining policy objectives for macroprudential policies, choosing intermediate targets and indicators ...
Natalia STEFIRTA
doaj
Macroprudential stress-testing practices of central banks in central and south eastern Europe : an overview and challenges ahead [PDF]
Stress tests are the main practical tools of macroprudential oversight. This paper reviews the stress-testing practices of central banks in Central and South Eastern Europe (CSEECBs) and outlines the challenges in the area of stress testing going forward.
Melecky, Martin, Podpiera, Anca Maria
core
Optimal monetary and macroprudential policy in a currency union [PDF]
, 2015 The financial crisis proved strikingly that stabilizing the price level is a necessary but not a sufficient condition to ensure macroeconomic stability. The obvious candidate for addressing systemic risk is macroprudential policy.
Palek, Jakob, Schwanebeck, Benjamin
core
Noisy Politics, Quiet Technocrats: Strategic Silence by Central Banks
Regulation &Governance, EarlyView.ABSTRACT In contrast to the “quiet” politics of the pre‐2008 period, macroeconomic policy has become “noisy”. This break raises a question: How do independent agencies designed for quiet politics react when a contentious public turns the volume up on them?
Benjamin Braun, Maximilian Düsterhöft
wiley +1 more source
Macroprudential Policy on Banking Sector in Indonesia
Trikonomika, 2018 This study investigates the implementation of macroprudential policy on banking sector and society. The research applied a descriptive analysis by using an in-depth interview with Bank Indonesia, representative of commercial bank, and society. The result
Feny Putri Emyliani +3 more
doaj +1 more source