'There was a world BC (Before Crisis) and there will be a world AD (After Deleveraging) the challenge is to create an effective, efficient yet stable and sustainable financial system for this "new world". This book provides the most comprehensive and thought-provoking basis for action I have...

This paper examines the interactions of macroprudential and monetary policies. We find, using a range of macroeconomic models used at the European Central Bank, that in the long run, a 1% bank capital requirement increase has a small impact on GDP. In the short run, GDP declines by 0.15-0.35%....

The recent Great Recession has renewed interest in the role of financial markets and credit in the economy, as well as in the boundaries of monetary, macroprudential and fiscal policies that impact macroeconomic developments and may influence business cycles. In the first two chapters of this...