Tags » Macroprudential Policy

Tax and financial stability

In a new discussion paper titled “Objectives and Challenges of Macroprudential Policy” (University of Glasgow Economics Discussion Paper 2016-02, available here), Professor Charles Nolan and I discuss recent developments in the institutional frameworks of central banks. 123 more words

Can macroprudential policy control house prices?

One of the features of the credit crunch era has been something that would not have been expected beforehand which is that house prices in more than a few countries are running hot. 1,489 more words

General Economics

Did Bill Gross get some insight from this blog? Maybe but it might (unfortunately) be outdated

The legendary Bill Gross – formerly of PIMCO and these days Janus Capital – does not believe in a hike from the Federal Reserve this year. 599 more words

NGDP Targeting

(What's Left of) Our Economy: What Stanley Fischer's Next Speech on Finance Reform Should Discuss

Because Stanley Fischer’s first speech yesterday as Vice Chair of the Federal Reserve focused on financial sector reform, all the news reports and commentary focused on his views on financial sector reform – especially his carefully nuanced discussion of the strengths and weaknesses of individual proposals for further regulatory changes and other means of crisis prevention. 448 more words

{What's Left Of) Our Economy

Macroprudential Policy: the New Black in Central Banking

The practice of central banking finds itself in an existential dilemma. Keeping interest rates low is seen as necessary to keep recession and deflation at bay, but cheap money may well cause new systemic risks that could threaten financial stability and undermine economic recovery in the not too distant future. 1,181 more words

Systemic Risk

Macroprudential follies and procyclical central bankers

A couple of days ago I came across an article from Bloomberg, which I think is very telling about everything which is wrong about the recent hype about macroprudential policies. 1,367 more words

Macroprudential Policy

Investors fleeing emerging markets are still showing the love to South Korea

The world is loving on Korea, and not just because of the latest K-pop.

Investors who’ve yanked their cash from emerging markets in recent months aren’t fleeing from Korea, which is being flooded with foreign capital. 252 more words