Analysis of Financial Stability

Dimitrios Tsomocos and C.A.E. Goodhart

OFRC Working Papers Series from Oxford Financial Research Centre

Abstract: On the macro-economic policy side of Central Banking a remarkable consensus has been emerging over the last two decades. This covers both the applicable theoretical framework for analysing the transmission mechanism of monetary policy and also the appropriate institutional structure for the Central Bank to deploy its macro-economic policies. There is no such consensus on the appropriate theoretical framework for the analysis of financial stability. Indeed some would claim that there is no proper theoretical framework for this function in being at all. However, we propose one such framework based on the work of Goodhart, Sunirand and Tsomocos (2004, 2005, 2006a and b).

Pages: 42
Date: 2007
New Economics Papers: this item is included in nep-cba, nep-mac and nep-pke
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Citations: View citations in EconPapers (6)

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Related works:
Working Paper: Analysis of Financial Stability (2007)
Working Paper: Analysis of Financial Stability (2007)
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