Abstract

http://ssrn.com/abstract=2198779
 


 



Monetary Policy and Macroprudential Regulation: Whither Emerging Markets


Otaviano Canuto


World Bank - Poverty Reduction and Economic Management (PREM)

Matheus Cavallari


affiliation not provided to SSRN

January 1, 2013

World Bank Policy Research Working Paper No. 6310

Abstract:     
Confidence in combining inflation-targeting-cum-flexible-exchange-rate regimes with isolated microprudential regulation as a means to guarantee both macroeconomic and financial stability has been shattered by the scale and synchronization of asset price booms and busts that preceded the current global financial crisis. This paper has a two-fold purpose. On the one hand, it explores the implications and challenges of acknowledging the need for coordination between monetary policies and macroprudential regulation. On the other, it points out specific challenges currently faced by central bankers in emerging economies, as they cope with policy and regulatory coordination in a context of debt overhang and unconventional monetary policies in advanced economies.

Number of Pages in PDF File: 38

Keywords: Currencies and Exchange Rates, Debt Markets, Emerging Markets, Economic Theory & Research, Banks & Banking Reform

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Date posted: January 10, 2013  

Suggested Citation

Canuto, Otaviano and Cavallari, Matheus, Monetary Policy and Macroprudential Regulation: Whither Emerging Markets (January 1, 2013). World Bank Policy Research Working Paper No. 6310. Available at SSRN: http://ssrn.com/abstract=2198779

Contact Information

Otaviano Canuto (Contact Author)
World Bank - Poverty Reduction and Economic Management (PREM) ( email )
1818 H Street, NW
Washington, DC 20433
United States
Matheus Cavallari
affiliation not provided to SSRN
No Address Available
Feedback to SSRN


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