Systemic Risk and Macroprudential Regulation

Franklin Allen and Elena Carletti
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Franklin Allen: University of Pennsylvania
Elena Carletti: European University Institute

Chapter 10 in The Global Macro Economy and Finance, 2012, pp 191-210 from Palgrave Macmillan

Abstract: Abstract During the recent crisis microprudential regulation of the banking system turned out to be unable to maintain financial stability largely because it did not recognize the problem of systemic risk. This chapter discusses in detail the sources of systemic risk, their importance for financial stability and the macroprudential policies that are necessary to address them.

Keywords: Central Bank; Asset Price; Credit Risk; Systemic Risk; Deposit Insurance (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1057/9781137034250_11

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