This note overviews macroprudential policy options that have been proposed to address the systemic risks experienced during the recent financial crisis. It cont
As for any form of government intervention, macroprudential policy should be justified by market failures. This paper discusses three key externalities across f
I provide an integrated analysis of monetary and macroprudential policies in a model economy featuring a financial friction and a nominal wage rigidity. In this
Macroprudential policies – caps on loan to value ratios, limits on credit growth and other balance sheets restrictions, (countercyclical) capital and reserve
This note provides guidance to facilitate the staff’s advice on macroprudential policy in Fund surveillance. It elaborates on the principles set out in the �