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Now showing items 11-13 of 13
Monetary policy and macro-prudential regulation: the risk-sharing paradigm
Economic history is replete with episodes of financial crises creating havoc for the real economy. These episodes typically have three important ingredients. First there are large financial flows to finance a bubbling asset class such as sovereigns or housing with 'safe' debt. Second there is a sharp ...
Financial stability monetary policy and Central Banking: an overview
The financial developments of the last decade had a large impact on the management of risk providing more diversified portfolios to investors. Based on these complex financial contracts investors were able to shift the investment possibilities frontier outward however that movement generated intricate ...
Trilemmas and tradeoffs: living with financial globalization
This paper evaluates the capacity of emerging market economies (EMEs) to moderate the domestic impact of global financial and monetary forces through their own monetary policies. I present the case that those EMEs able to exploit a flexible exchange rate are far better positioned than those that devote ...