regulation did not take the "big picture" of the system suffciently into account and, subsequently, financial supervision mainly … "missed the forest for the trees". As a result, the need for macroprudential aspects of regulation emerged, which has recently … macroprudential regulation in creating stable, yet effcient financial systems. At the same time, I emphasize the importance of …

The recent financial crisis has highlighted the need to go beyond a purely micro approach to financial regulation and … financial regulation has grown considerably. The policy debate is focusing in particular on macroprudential tools and their …

The recent financial crisis has highlighted the need to go beyond a purely micro approach to financial regulation and … financial regulation has grown considerably. The policy debate is focusing in particular on macroprudential tools and their …

How does macroprudential regulation affect financial stability in the presence of non-bank financial intermediaries? We …-prudential regulation, generally, decreases systemic risk among traditional banks, it has the opposite effect on systemic risk in the non …

sector fragility, bank stability, activity restrictions, capital regulation stringency, and banking supervision independence … capital regulation stringency and the independence of banking supervisory authorities weakened in countries where an increase …

This paper examines the macroprudential roles of bank capital regulation and monetary policy in a Dynamic Stochastic … toolkit. Following credit shocks, countercyclical bank capital regulation is more effective than monetary policy in promoting … financial, price and overall macroeconomic stability. For supply shocks, macroprudential regulation combined with a strong …

There is increasing recognition that prior to the global financial crisis financial regulation had lacked a … be their mandate? Third, how can governance arrangements ensure that macroprudential policies are pursued effectively …