Macroprudential Policy: A Review

Mahdi Ebrahimi Kahou and Alfred Lehar ()

SPP Research Papers, 2015, vol. 8, issue 34

Abstract: The severity and longevity of the recession caused by the 2007 financial crisis has highlighted the lack of a reliable macro-based financial regulation framework. As a consequence, addressing the link between the stability of the financial system as a whole and the performance of the overall economy has become a mandate for policymakers and scholars. Many countries have adopted macroprudential tools as policy responses for safeguarding the financial system. This paper provides a literature review of macroprudential policies, its objectives and the challenges that a macro-based framework needs to overcome, such as financial stability, procyclicality, and systemic risk.

Date: 2015
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Journal Article: Macroprudential policy: A review (2017)
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