Commentary: Policies for Crises Prevention and Management

Arvind Krishnamurthy

International Journal of Central Banking, 2017, vol. 13, issue 3, 277-285

Abstract: I discuss the role of debt in financial crises and macroprudential tools to manage debt. A principal conclusion is that changes in mortgage contract designs, an ex ante measure aimed at the household sector, can deliver significant welfare benefits.

Date: 2017
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