Monetary Policy and Financial Stability

Jin Cao () and Gerhard Illing
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Gerhard Illing: LMU Munich

Chapter 10 in Money: Theory and Practice, 2019, pp 357-406 from Springer

Abstract: Abstract This chapter analyzes the feedback between monetary policy and financial stability using two main approaches. The first one is a macro approach, integrating the banking sector in a standard DSGE model; the second one is a banking approach, integrating central bank in a partial equilibrium banking model. The feedback mechanisms motivate the need for macroprudential regulation, as a necessary companion for monetary policy, to address the systemic risks that cannot be fixed by monetary policy alone.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-030-19697-4_10

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DOI: 10.1007/978-3-030-19697-4_10

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