European Parliament Library

Taming the cycles of finance?, central banks and the macro-prudential shift in financial regulation, Matthias Thiemann.

Summary
Macroprudential regulation is a set of economic and policy tools that aim to mitigate risk in the financial and banking systems. It was largely developed in response to the financial crisis of 2007-08, turning central banks into de facto financial policemen. Taming the Cycles of Finance traces the post-crisis rise of macroprudential regulation and argues that, despite its original aims, it typically supports finance in times of crisis but fails to curb it in times of booms. Investigating how different macroprudential frameworks developed in the UK, the USA and the Eurozone, the book explains how central bank economists went about building early warning systems to identify fragilities in the financial system. It then shows how administrative and political constraints limited the effects of this shift, as central banks were wary of intervening in a discretionary manner and policymakers were opposed to measures to limit credit growth
Language
eng
Literary Form
non fiction
Edition
First edition.
Note
Title from publisher's bibliographic system (viewed on 15 Feb 2024)
Physical Description
1 online resource (xv, 335 pages), digital, PDF file(s).
Specific Material Designation
remote
Form Of Item
online
Isbn
9781009233125

Classification

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