CHALLENGES FOR MACROPRUDENTIAL SUPERVISION

Randall Kroszner
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Randall Kroszner: University of Chicago, Booth School of Business, USA

Chapter 23 in Macroprudential Regulatory Policies:The New Road to Financial Stability?, 2011, pp 379-385 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe timely and important focus of this conference is macroprudential policy, a topic under intense discussion worldwide. The theme of my remarks is a bit of a qualification on what macroprudential policy can achieve. I am concerned that we run the risk of putting too many eggs in the macroprudential basket. I have heard people at conferences around the world say: “Well, macroprudential policies can take care of housing bubbles. They can take care of problems in the CDS market. They can take care of this. They can take of that.”…

Keywords: Macroprudential Regulation; Financial Regulation; Systemic Risk; Dodd-Frank; International Banking; Financial Crisis; Financial Stability; Bank Capital; Microprudential Regulation; Policy Tools; Cross-Border; Countercyclical Policy; Governance; Failure Resolution; Globalization; Basel III; Contingent Capital; Stress Tests (search for similar items in EconPapers)
Date: 2011
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