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It is well known that a tightening or easing of the United States' monetary policy affects financial markets in emerging economies. This paper argues that uncertainty about future monetary policy is a separate transmission channel. We focus on the taper tantrum episode in 2013, a period with an...
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How to conduct macro-prudential regulation? How to coordinate monetary policy and macro-prudential policy? To address these questions, I develop a continuous-time New Keynesian economy in which a financial intermediary sector is subject to a leverage constraint. Coordination between monetary and...
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the role of macroprudential policy as an integral part of the central bank policy mix and financial stability in Indonesia … macroprudential policy measures have been implemented in Indonesia, including loan-to-value (LTV) ratios, reserve requirements and a … stability, Indonesia has underpinned its crisis management protocol for prevention and resolution of the financial system crisis …
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