On the interaction between monetary and macroprudential policies

Alberto Martin, Caterina Mendicino and Alejandro Van der Ghote

No 2527, Working Paper Series from European Central Bank

Abstract: The Global Financial Crisis fostered the design and adoption of macroprudential policies throughout the world. This raises important questions for monetary policy. What, if any, is the relationship between monetary and macroprudential policies? In particular, how does the effectiveness of macroprudential policies (or lack thereof) influence the conduct of monetary policy? This discussion paper builds on the insights of recent theoretical and empirical research to address these questions. JEL Classification: E3, E44, G01, G21

Keywords: capital requirements; financial frictions; systemic risk (search for similar items in EconPapers)
Date: 2021-02
New Economics Papers: this item is included in nep-cba, nep-mac, nep-mon and nep-rmg
Note: 1774743
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:20212527

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