Have a personal or library account? Click to login

A Brief Introduction to the World of Macroprudential Policy

Open Access
|Feb 2017

References

  1. 1. Angelini, P., S. Neri, and F. Panetta. (2011). Monetary and macroprudential policies. Temi di Discussione 801. Bank of Italy.10.2139/ssrn.1832349
  2. 2. Bank of England. (2009). The role of macroprudential policy. Bank of England Discussion Paper.
  3. 3. Beau, D., L. Clerc, and B. Mojon. (2012). Macro Prudential Policy and the Conduct of Monetary Policy. Banque de France.10.2139/ssrn.2132404
  4. 4. Benigno, G., H. Chen, C. Otrok, A. Rebucci, and E. R. Young. (2012). Monetary and Macro-Prudential Policies - An Integrated Analysis, IMF Twelfth Jacques Polak Annual Research Conference. July.
  5. 5. Bernanke, B. and M. Gertler. (2001). Should Central Banks Respond to Movements in Asset Prices?, The American Economic Review, Papers and Proceedings of the Hundred Thirteenth Annual Meeting of the American Economic Association, 91(2), 253 - 257.10.1257/aer.91.2.253
  6. 6. Bini Smaghi, L. (2011). Speech at the OeNB Annual Economic Conference on The Future of European Integration: Some Economic Perspectives. Vienna. May.
  7. 7. Bank for International Settlements. (2012). Models and tools for macroprudential analysis. BIS Working Paper No. 21, May.
  8. 8. Bofinger, P. (2001). Monetary Policy - Goals, Institutions, Strategies, and Instruments. New York: Oxford University Press.
  9. 9. Bordo, M., and D. Wheelock. (1998). Price Stability and Financial Stability: The Historical Record. Federal Reserve Bank St. Lois Review. September/ October.10.20955/r.80.41-62
  10. 10. Bordo, M., B. Eichengreen, D. Klingebiel, and S. M. Martinez Peria. (2001). Is the Crisis Problem Growing More Severe?. Economic Policy, No. 24, 51 -82.10.1111/1468-0327.00070
  11. 11. Borio, C., and I. Shim. (2007). What can (macro-)prudential policy do to support monetary policy?. BIS Working Paper No 242.10.2139/ssrn.1120287
  12. 12. Borio, C. (2010). Implementing a macroprudential framework: balancing boldness and realism, Bank for International Settlements. July.
  13. 13. Brockmeijer, J. (2014). Experiences of Macroprudential Policy - Global and European Perspectives. Monetary and Capital Markets Department. Int
  14. 14. Caruana, J. (2011). Monetary policy in a world with macroprudential policy. The SAARCFINANCE Governors’ Symposium. Kerala. June.
  15. 15. Cheang, N., and I. Choy. (2011). Aggregate Financial Stability Index for an Early Warning System. Monetary Authority of Macao. Macao Monetary Research Bulletin No. 21, 27 - 51, October.
  16. 16. Clement, P. (2010). The term ‘macroprudential’: origins and evolution. BIS Quarterly Review. March.
  17. 17. Clouse, J. A. (2013). Monetary Policy and Financial Stability Risks: An Example, Finance and Economics Discussion Series (FEDS). Fed Washington 2013-41.
  18. 18. Committee on the Global Financial System - CGFS (2010). Macroprudential instruments and frameworks: a stocktaking of issues and experiences, CGFS Papers No. 38. May.
  19. 19. Committee on the Global Financial System - CGFS (2012). Operationalizing the selection and application of macroprudential instruments. CGFS Papers No. 48. December.
  20. 20. Crockett, A. (1994). Reforming the Global Financial Architecture. Speech at the Asia Economic Policy Conference, Asia and the Global Financial Crisis.
  21. 21. Crockett, A. (2000). Marrying the micro- and macroprudential dimensions of financial stability, BIS Speeches. 21 September.
  22. 22. De Bandt, O. and P. Hartmann. (2000). Systemic Risk: A Survey. ECB Working Paper No. 35. November.10.2139/ssrn.258430
  23. 23. Dell’Ariccia, G., L. Laeven, and G. Suare (2013). Bank Leverage and Monetary Policy’s Risk-Taking Channel, IMF Working Paper No. WP/13/143, June.
  24. 24. European Systemic Risk Board (2014). Flagship Report on Macro- Prudential Policy in the Banking Sector, March.
  25. 25. Financial Stability Board, IMF and BIS. (2011). Macroprudential policy tools and frameworks - Update to G20 Finance Ministers and Central Bank Governors. February.
  26. 26. Gadanecz, B., and K. Jayaram. (2009). Measures of financial stability - a review. BIS, Proceedings of the IFC Conference on Measuring financial innovation and its impact. Basel, 26-27 August 2008. Vol. 31, 365 - 380.
  27. 27. Galati, G. and R. Moessner. (2011). Macroprudential policy - a literature review. BIS Working Papers 337. Bank for International Settlements.
  28. 28. Haldane, A. G. (2006). A framework for financial stability, materials for the seminar on Financial Stability. Bank of England. London. April.
  29. 29. Hoggarth, G., R. Reis, and V. Saporta. (2002). Cost of banking system instability: Some empirical evidence. Journal of Banking and Finance, Vol. 26(5), 825 - 855. Elsevier. May.10.1016/S0378-4266(01)00268-0
  30. 30. Houben, A., J. Kakes, and G. Schinasi. (2004). Toward a Framework for Safeguarding Financial Stability. IMF Working Paper No. WP/04/101. June.
  31. 31. Johnston, B. R. (2011a). The evolving role of macro-prudential policy. Materials prepared for the IMF course on Financial Stability, Systemic Risk and Macro-Prudential Policy. February.
  32. 32. Johnston, B. R. (2011b). Implementing macroprudential policy. Materials prepared for the IMF course on Financial Stability, Systemic Risk and Macro-Prudential Policy. February
  33. 33. Kogar, C. (2006). Assessment of financial stability at the Central Bank of Turkey. Materials prepared for the conference. Istanbul.
  34. 34. Lim, C. H., I. Krznar, F. Lipinsky, A. Otani, and X. Wu (2013). The Macroprudential Framework: Policy Responsiveness and Institutional Arrangements, IMF Working Paper 13/166, July.10.5089/9781484377819.001
  35. 35. International Monetary Fund. (2009). Global Financial Stability Report: Responding to the Financial Crisis and Measuring Systemic Risk. Chapter 3. Detecting Systemic Risk. World Economic and Financial Surveys. April.
  36. 36. International Monetary Fund. (2011). Global Financial Stability Report: Grappling With Crisis Legacies. Chapter 3 Toward Operationalizing Macroprudential Policies: When to Act?. World Economic and Financial Surveys. September.
  37. 37. International Monetary Fund. (2013). Key Aspects of Macroprudential Policy. Approved by J. Vinalis. Prepared under the guidance of J. Brockmeijer. June.
  38. 38. International Monetary Fund. (2015). From banking to sovereign stress: Implications for public debt. IMF Policy Paper. March.
  39. 39. Mörttinen, L., P. Poloni, P. Sandars, and J. M. Vesala. (2005). Analysing Banking Sector Conditions: How to Use Macro-Prudential Indicators. ECB Occasional Paper No. 26. April.10.2139/ssrn.752086
  40. 40. Nier, E. W., J. Osiński, L. I. Jácome, and P. Madrid. (2011). Institutional Models for Macroprudential Policy. IMF Staff Discussion Note. November.10.5089/9781463926533.006
  41. 41. Ozgöde, O. (2011). The Emergence of Systemic Financial Risk: From Structural Adjustment (Back) to Vulnerability Reduction. Retrieved from www.limn.it. Issue number one: Systemic Risk.
  42. 42. Reinhart, C. and K. Rogoff. (2009). This Time Is Different: Eight Centuries of Financial Folly. New Jersey: Princeton University Press.
  43. 43. Reinhart, C. and K. Rogoff. (2014). Recovery from Financial Crises - Evidence from 100 Episodes. NBER Working Paper No. 19823. January.10.3386/w19823
  44. 44. Rodriguez-Moreno, M., and J. I. Pena. (2011). Systemic risk measures: the simpler the better?. Journal of Banking & Finance, 37 (6), 1817 - 1831.
  45. 45. Schaller, A. (2007). Safeguarding financial stability - Responsibility of central banks. Materials prepared for the international central banking seminar “Financial Stability” organised by the Deutsche Bundesbank. May.
  46. 46. Schinasi, G. J. (2004). Defining financial stability. IMF Working Paper WP/04/187. October.10.5089/9781451859546.001
  47. 47. Schou-Zibell, L., J. R. Albert, and L. L. Song. (2010). A Macroprudential Framework for Monitoring and Examining Financial Soundness. ADB Working Paper Series on Regional Economic Integration, No. 43. March.
  48. 48. Schwartz, S. L. (2011). Identifying and Managing Systemic Risk: An Assessment of Our Progress. George Mason University. AGEP Advanced Policy Institute of Financial Services Regulation. March.
  49. 49. Spicka, P. (2009). Financial stability issues at central banks, presentation prepared for the conference Financial Stability organised by Deutsche Bundesbank. May.
  50. 50. Watson, M. (2010). Inputs to Policy Co-ordination and Crisis Prevention Management, Materials prepared for the seminar Financial Stability Reports: Design and Effectiveness organised by the Center of Excellence in Finance. Ljubljana.
  51. 51. Windischbauer, U. (2007). Dealing with financial Stability in ESCB Central Banks. Deutsche Bundesbank. May.
  52. 52. Žugić, R., and N. Fabris. (2010). Finansijska stabilnost kao cilj centralnih banaka. Aktuelna pitanja crnogorske ekonomije. Central Bank of Montenegro.
Language: English
Page range: 87 - 109
Submitted on: Mar 24, 2016
Accepted on: Jun 30, 2016
Published on: Feb 8, 2017
Published by: Central Bank of Montenegro
In partnership with: Paradigm Publishing Services
Publication frequency: 3 times per year

© 2017 Mirna Dumičić, published by Central Bank of Montenegro
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.