Introduction to Research Handbook of Macroprudential Policy

David Aikman and Prasanna Gai

A chapter in Research Handbook of Macroprudential Policy, 2026, pp 1-6 from Edward Elgar Publishing

Abstract: This Research Handbook of Macroprudential Policy provides a comprehensive overview of the theoretical foundations, empirical evidence, and practical implementation of macroprudential frameworks. In the wake of the Global Financial Crisis, macroprudential policy emerged as a distinct field aimed at containing systemic risk and enhancing the resilience of the financial system. The Handbook synthesises insights from a decade and a half of research and policy experimentation, drawing on contributions from leading academics and practitioners across central banks and regulatory institutions. Organised into seven parts, it addresses the conceptual objectives of macroprudential policy, the role of debt dynamics in crises, the effectiveness of macroprudential tools, the development of analytical models, governance structures and interactions with other policies, systemic risk outside the banking sector, and frontier issues such as climate change and digital finance. Taken together, the chapters illuminate the evolution of macroprudential thinking and offer a forward-looking agenda for refining its objectives, enhancing its effectiveness, and embedding it more securely within the policy apparatus.

Keywords: Macroprudential policy; Systemic risk; Financial stability; Borrower-based measures; Capital buffers; Stress testing; Debt dynamics; Macro-financial models; Governance; Non-bank financial intermediation; Shadow banking; Climate risk; Digital assets; Policy coordination; Institutional design (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035306206
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