European Parliament Library

Towards Effective Macroprudential Policy Frameworks :, An Assessment of Stylized Institutional Models, Erlend Nier, Luis Jácome, Jacek Osinski, Pamela Madrid

Abstract
A number of countries are reviewing their institutional arrangements for financial stability to support the development of a macroprudential policy function. In some cases, this involves a rethink of the appropriate institutional boundaries between central banks and financial regulatory agencies, or the setting up of dedicated policymaking committees. In others, efforts are underway to enhance cooperation within the existing institutional structure. Against this background, this paper provides basic guidance for the design of effective arrangements, in a manner that can provide a framework for country-specific advice. After reviewing briefly the main institutional elements of existing and emerging macroprudential policy frameworks across countries, the paper identifies stylized institutional models based on key features that distinguish institutional arrangements. It develops criteria to assess the effectiveness of models, examines the strengths and weaknesses of models against these criteria, and explores ways to improve existing setups. The paper finally distills lessons and sets out desired principles for effective macroprudential policy arrangements
Table Of Contents
Cover Page; Title Page; Copyright Page; Abstract; Contents; I. Introduction; 1. Key Desirables for Macroprudential Policy Arrangements; II. Existing Institutional Arrangements Across Countries: A Snapshot; 1. Stylized Models for Macroprudential Policy; 2. Institutional Arrangements for Macroprudential Policies in the Aftermath of the Crisis: Recent Trends; 1. Institutional Responsibility for Banking Supervision; 2. Macroprudential Mandate in Advanced and Emerging Market Countries; III. Institutional Models for Macroprudential Policy; IV. Assessment of Models
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (90 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9780146394683

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