Why Macroprudential Policy? Brief Overview
Valentina Bruno and
Hyun Song Shin
Chapter 7 in Volatile Capital Flows in Korea, 2014, pp 179-186 from Palgrave Macmillan
Abstract It is a cliché that the world has become more connected, but the financial crisis and the boom that preceded it have focused attention on the global factors behind credit growth and capital flows. Calvo et al. (1993, 1996) famously distinguished the global “push” factors for capital flows from the country-specific “pull” factors, and the Bank for International Settlements (BIS) report on global liquidity (the “Landau report”) has highlighted the role of cross-border banking in the transmission of financial conditions (BIS, 2011).
Keywords: Monetary Policy; Capital Flow; Capital Inflow; Debt Security; Credit Growth (search for similar items in EconPapers)
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