Central Banking, Macroprudential Supervision and Insurance

Donato Masciandaro () and Alessio Volpicella ()

Chapter 9 in Macroprudential Supervision in Insurance, 2014, pp 167-208 from Palgrave Macmillan

Abstract: Abstract Since the financial turmoil of 2008 considerable efforts have been made to draw lessons from it for the design of supervisory architectures. One of the main issues, which have been, and still are being, addressed, is how to prevent the instability of the financial system as a whole, by building up a macroprudential framework. By definition, the macroprudential framework has to address the cross-sectional dimensions which characterise any systemic risk distribution. Therefore, two key features of any macroprudential architecture are: on the one hand, how to define its governance, that is, which authorities have to be involved in order to assign the set of powers and tools that characterises macroprudential policy; and on the other hand, how to identify its perimeter, that is, the boundaries and features of the financial area that has to be supervised.

Keywords: Monetary Policy; Central Bank; Housing Price; Systemic Risk; Insurance Industry (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-43910-9_10

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DOI: 10.1057/9781137439109_10

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