The architecture of macroprudential policy: delegation and coordination

Charles Bean

Chapter 9 in Central Banks and Supervisory Architecture in Europe, 2022, pp 96-107 from Edward Elgar Publishing

Abstract: There are technical and political economy reasons for the delegation of macroprudential policy but the absence of a measurable objective hinders accountability while some borrower-focussed policies may raise questions of political legitimacy. Macroprudential and monetary policies theoretically do not need to reside in the same agency but in practice it may be helpful. Finally, the financial market turbulence in spring 2020 highlighted that stresses may arise beyond the regulatory perimeter, emphasising the need for vigilance.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/view/edcoll/9781802208894/9781802208894.00015.xml (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:21354_9

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().