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Central Clearing and Collateral Demand
Duffie, Darrell - 2014
demand of new margin and clearing practices and regulations. We decompose collateral demand for both customers and dealers … impact on collateral demand of more widespread initial margin requirements, increased novation of CDS to central clearing … parties (CCPs), an increase in the number of clearing members, the proliferation of CCPs of both specialized and non …
Persistent link: https://www.econbiz.de/10012458774
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Macroprudential Policy during COVID-19 : The Role of Policy Space
Bergant, Katharina; Forbes, Kristin - National Bureau of Economic Research - 2021
This paper uses the initial phase of the COVID-19 pandemic to examine how macroprudential frameworks developed over the past decade performed during a period of heightened financial and economic stress. It discusses a new measure of the macroprudential stance that better captures the intensity...
Persistent link: https://www.econbiz.de/10012660024
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Macroprudential Policies and The Covid-19 Pandemic : Risks and Challenges For Emerging Markets
Edwards, Sebastian - National Bureau of Economic Research - 2021
This paper deals with COVID and macroprudential regulations in emerging markets. I document the build-up of a sturdy macroprudential structure during 2009-2019, and the relaxation of regulations in 2020-2021, as part of the effort to deal with the sanitary emergency. I show that in every...
Persistent link: https://www.econbiz.de/10012660118
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Liquidity Traps, Prudential Policies, and International Spillovers
Bianchi, Javier; Coulibaly, Louphou - National Bureau of Economic Research - 2022
This paper studies the transmission channels of monetary and macroprudential policies in an open economy framework and evaluates the normative implications for international spillovers and global welfare. An analytical decomposition uncovers the prominent role of expenditure switching for...
Persistent link: https://www.econbiz.de/10013210066
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Credit Booms, Financial Crises and Macroprudential Policy
Gertler, Mark - 2020
We develop a model of banking crises which Is consistent with two important features of the data: First, banking crises are usually preceded by credit booms. Second, credit booms often do not result in a crisis. That is, there are "good" booms as well as "bad" booms in the language of Gorton and...
Persistent link: https://www.econbiz.de/10012481336
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Transparency, Risk Management and International Financial Fragility
Draghi, Mario - 2003
Discussions of financial risk often fail to distinguish between risks that are consciously borne and those that are not. To understand the breeding conditions for financial crises the prime focus of concern should not be simply on large risk-taking per se, but on the unintended, or unanticipated...
Persistent link: https://www.econbiz.de/10012468892
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Cross-Border Prudential Policy Spillovers : How Much? How Important? Evidence from the International Banking Research Network
Buch, Claudia M. - 2016
The development of macroprudential policy tools has been one of the most significant changes in banking regulation in recent years. In this multi-study initiative of the International Banking Research Network, researchers from fifteen central banks and two international organizations use...
Persistent link: https://www.econbiz.de/10012455806
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Necessity as the Mother of Invention : Monetary Policy after the Crisis
Blinder, Alan S. - 2016
We ask whether recent changes in monetary policy due to the financial crisis will be temporary or permanent. We present evidence from two surveys--one of central bank governors, the other of academic specialists. We find that central banks in crisis countries are more likely to have resorted to...
Persistent link: https://www.econbiz.de/10012455945
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Macroprudential Policy in a World of High Capital Mobility : Policy Implications from an Academic Perspective
Engel, Charles - 2015
The paper explicates the issues raised for macroprudential regulation in a global economy with high capital mobility. The study surveys the recent literature and aims to translate the academic rationale for such policies, in which market imperfections lead to external effects that require policy...
Persistent link: https://www.econbiz.de/10012457715
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Macroprudential Policies in a Global Perspective
Jeanne, Olivier - 2014
the world is in a liquidity trap while the rest of the world accumulates reserves for prudential reasons …
Persistent link: https://www.econbiz.de/10012458697