Financial stability - major objective of the central banks

Jenica Popescu and Mircea Ciolpan
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Jenica Popescu: University of Craiova

Finante - provocarile viitorului (Finance - Challenges of the Future), 2012, vol. 1, issue 14, 95-98

Abstract: In terms of economic and financial globalization, central banks functions are to ensure not only monetary stability but also financial stability. The international financial crisis of 2007-2008, has shown that financial stability should be considered a priority objective, and the fact that monetary stability is a necessary and sufficient condition for the existence of financial stability is not always valid. The paper-work shows the links between monetary stability and financial stability, as well as the instruments of a macro-prudential adjustment aimed to stabilize the monetary and financial system in its macroeconomic dimension.

Keywords: financial stability; monetary policy; price stability (search for similar items in EconPapers)
JEL-codes: E50 E52 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:aio:fpvfcf:v:1:y:2012:i:14:p:95-98

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