The Way Forward — Central Banks with Financial Stability Mandates: The Case of the Eurosystem

Anne Sibert
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Anne Sibert: Birkbeck, University of London, UK and CEPR, USA

Chapter 24 in The Role of Central Banks in Financial Stability:How Has It Changed?, 2013, pp 433-445 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:IntroductionThe Central Bank's Legitimacy When It Has a Financial Stability RoleThe political nature of the central bank's financial stability roleThe perceived legitimacy of the Eurosystem as provider of financial stabilityThe Eurosystem's output legitimacyInput legitimacy through the manner of the ECB's creationAccountability and the EurosystemStaffing the Central Bank When It Has a Financial Stability RoleWhy macroeconomists are not enoughExpertise for a financial stability roleCombining the Financial Stability and Monetary Policy Roles of a Central BankReferences

Keywords: Financial Stability; Financial Regulation; Macroprudential Regulation; Systemic Risk; Dodd-Frank; Financial Crisis (search for similar items in EconPapers)
Date: 2013
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