Allocating macro-prudential powers

written primarily by Dirk Schoenmaker, with contributions from Daniel Gros, Sam Langfield and Marco Pagano

Monetary, macro-prudential and micro-prudential policies are intimately linked. The macroprudential authority should be allocated to the body where the overall balance of synergies (between policy objectives) over conflicts and the required expertise are the largest. This report reviews the pros and cons of the four institutional models for the allocation of macro-prudential powers: (1) the government, (2) the central bank, (3) the financial authority and (4) a committee with representatives from these three bodies.

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Year of publication:	[2014]
Authors:	Schoenmaker, Dirk ; Gros, Daniel ; Langfield, Sam ; Pagano, Marco
Publisher:	[Frankfurt am Main] : ESRB, European Systemic Risk Board, European System of Financial Supervision
Subject:	Theorie \| Theory \| Allokation \| Allocation \| Macht \| Power \| Elektrizitätswirtschaft \| Electric power industry \| Allokationseffizienz \| Allocative efficiency \| Finanzmarktaufsicht \| Financial supervision

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Extent:	1 Online-Ressource (circa 20 Seiten)
Series:	Reports of the Advisory Scientific Committee. - Frankfurt am Main, Germany : European Systemic Risk Board, ISSN 2467-0685, ZDB-ID 2954752-0. - Vol. no 5 (November 2014)
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature
Language:	English
Other identifiers:	hdl:10419/193615 [Handle]
Classification:	G28 - Government Policy and Regulation
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011971216