Macroprudential Policy: What We’ve Learned, Don’t Know, and Need to Do
Name
pandp.20191056.pdf
Description
Published version
Size
463.13 KB
Format
Unknown
Checksum (MD5)
24ca46330ac87c20fed6fb9c2057b6e3
Author(s)
Forbes, Kristin J.
Date Issued
May 2019
Journal
American Economic Association Papers and Proceedings
Publisher
American Economic Association
Citation
2019. "Macroprudential Policy: What We’ve Learned, Don’t Know, and Need to Do." American Economic Association Papers and Proceedings, 109.
Version
Final published version
Abstract
Over the last decade, macroprudential policy has made important advances and become more widely used. We have a better understanding of its goals and tools, and are accumulating evidence that it can be effective on its direct targets, albeit often with unintended leakages and spillovers. There has been less progress, however, in terms of understanding: the ramifications of these leakages and spillovers, the optimal calibration of various tools, and how to identify the next risks as the financial system evolves. A top priority is better understanding the new vulnerabilities developing as risks shift outside the perimeter of existing regulations.
MIT Department
Sloan School of Management
Terms of Use
Article is made available in accordance with the publisher's policy and may be subject to US copyright law. Please refer to the publisher's site for terms of use.
Persistent DSpace Link
DOI of Published Version
https://doi.org/10.1257/PANDP.20191056
