Macroprudential Policy: Tools and Evaluation of the Effectiveness of Measures for Systemic Risks Management

Ekaterina Seryakova ()
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Ekaterina Seryakova: Sberbank

Chapter Chapter 10 in Systemic Financial Risk, 2024, pp 255-295 from Springer

Abstract: Abstract This article is devoted to the implementation of macroprudential policy in the national economy and in foreign countries, the analysis of its tools, as well as the assessment of the effectiveness of macroprudential policy measures. After the global financial and economic crisis of 2008–2010, practical interest in studying systemic banking risks, the problems of macroprudential policy and its tools increased, as financial instability began to be perceived as a source of contagion for the real sector of the economy. Financial instability is explained with the realization of systemic banking risks, as a result of which, in parallel, issues related to sources, transmission channels and quantitative indicators for assessing systemic banking risks began to be deeply studied. The relevance of the study of macroprudential policy has increased after the global financial and economic crisis in 2008–2010, when it became clear that, on the one hand, monetary policy instruments cannot ensure financial stability and smooth out the bursts of the financial cycle, and on the other hand, that microprudential policy is insufficient to prevent systemic banking crises.

Keywords: Macroprudential policy; Systemic risks; Macroprudential regulation; G18; G21 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-54809-3_10

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DOI: 10.1007/978-3-031-54809-3_10

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