Agenor, R. P.; Alper, K.; Silva, L. Pereira da - In: International Journal of Central Banking 9 (2013) 3, pp. 198-243
This paper examines the roles of bank capital regulation and monetary policy in mitigating procyclicality and promoting macroeconomic and financial stability. The analysis is based on a dynamic stochastic model with imperfect credit markets. Macroeconomic stability is defined in terms of a...