Acta Universitatis Lodziensis. Folia Oeconomica nr 295/2013 - Financial Markets and Macroprudential Policy, vol 295

Edited by Władysław Milo () and Piotr Wdowiński ()

in FindEcon Books: Forecasting Financial Markets and Economic Decision-Making from University of Lodz, currently edited by Piotr Wdowiński

Abstract: Financial crisis that started in 2007 in USA awaked broad discussions among economists about the kinds of sources of this particular crisis, as well as ways of its overcoming. Some economists see the reasons of the crisis in the improper political interventions of the states and central banks, while others see important long influence of no macroprudential policy regulations (e.g. concerning FX credits and hybrid financial instruments). Finally, some economists see the reasons in particularly destructive behavior of too-big-to-fail financial conglomerates (banks) with a large volume of hybrid instruments and derivatives. It is yet hard to find proper answers to the following questions: whether crises impulses originate and pass from financial sector (stock exchanges and banking sector) to industry, trade and commodities markets or otherwise? whether economic instability sources originate in financial sector of the biggest economies and spread over the weakest economies or somehow otherwise? why the observed cycle is so slowly damping? whether creditors are more induced by miscalculation of their subjective forecasts about the economic performance or by interactive expectations between market agents? whether the actual financial crisis is more determined by financial Global Systemically Important Banks (G-SIBs) only or by them jointly with their counterparts in the political institutions? In this book we offer a forum for economists and policymakers to discuss the theoretical and empirical issues on many general and specific topics in finance and macroeconomics. The research in this volume gives a diversity of topics. It extends the framework of micro- and macroeconomic problems of financial markets functioning, evolution and prospects of growth in short- and long-term horizons. The topics include very important issues of new architecture of European financial regulatory and supervision framework, and the contribution of financial markets performance to economic growth. The chapters included in this volume give some insights that may be helpful in formulating answers to the above posed questions. The book was preceded by the international conference “Forecasting Financial Markets and Economic Decision-Making” (FindEcon 2012) organized by the Department of Econometrics, University of Łódź, Poland. The scientific record of the papers was assured by the Programme Committee members, the conference discussants and referees. We would like to thank them for their support. We are grateful to all contributors to this book for making it a selection of insightful studies on financial markets.

Keywords: Micro- and macroeconomic problems of financial markets functioning; Evolution and prospects of economic growth; European financial regulatory and supervision framework (search for similar items in EconPapers)
JEL-codes: C01 E02 F00 G00 (search for similar items in EconPapers)
Date: 2013
Edition: 1
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Downloads: (external link)
https://dspace.uni.lodz.pl/xmlui/handle/11089/4942 (application/pdf)

Chapters in this book:

Ch 1 Institutional Causes of the Global Banking Crisis and the Emergence of Macro-Prudential Countercyclical Policy , pp 7-24

Andrzej Sławiński

Ch 2 Banking Sector and Real Economy of Poland – Analysis with a VAR Model , pp 25-43

Piotr Wdowiński

Ch 3 Credit risk of FX loans in Poland. Interest and FX rate Dependence , pp 45-58

Zuzanna Wośko

Ch 4 Notes on some optimal monetary policy rules: the case of Poland , pp 59-77

Władysław Milo, Dominika Bogusz, Mariusz Górajski and Magdalena Ulrichs

Ch 5 How do individual forecasters change their views? An analysis with micro panel data , pp 79-92

Maritta Paloviita and Matti Viren

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Persistent link: https://EconPapers.repec.org/RePEc:ann:findeb:book:y:2013:n:295:foe

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