169 Pages Posted: 5 Oct 2016
Date Written: September 2016
This volume contains 17 papers presented at the joint Central Bank of the Republic of Turkey (CBRT) - Bank for International Settlements (BIS) - International Monetary Fund (IMF) conference on "Macroprudential policy: effectiveness and implementation challenges" held in Istanbul, Turkey, during Turkey's presidency of the G20. They address the history, the theory and the practical implementation of macroprudential policies.
They analyse, inter alia: the nature of interactions with other policies (notably monetary policy and microprudential regulation); how macroprudential policies can cope with external shocks and what cross-border spillover effects arise; and the effectiveness of various macroprudential policy tools. Several country case studies are presented.
While the full publication can be downloaded using the above link, individual contributions are available separately.
Foreword to 'Macroprudential policy'
Macroprudential Policies and Integrated Inflation Targeting
Analysing the Effectiveness of Macroprudential Tools
Macroprudential Regulation: History, Theory and Policy
Session 1: "Macroprudential policy and its interactions with other policies"
Credit Cycles and Macroprudential Policy Framework in Emerging Countries
Monetary and Macroprudential Policies – Exploring Interactions
Session 2: "Spillover effects of macroprudential policy tools"
Macroprudential Policies and the Lucas Critique
Cross-Border Spillovers from Macroprudential Policy in the Euro Area
Banking De-Globalisation: A Consequence of Monetary and Regulatory Policies?
Session 3: "External shocks and macroprudential policy"
External Shocks, the Exchange Rate and Macroprudential Policy
Capital Flows, Credit Cycles and Macroprudential Policy
Macroprudential Policies in a Commodity Exporting Economy
Session 4: "Country experiences with macroprudential policies (I)"
Managing Systemic Risks in the Croatian Economy
Macroprudential Policy Regulation: Some Continuing Challenges
Session 5: "Effectiveness of macroprudential policy tools"
The Use and Effectiveness of Macroprudential Policies
Financial Development and the Effectiveness of Macroprudential Measures
Session 6: "Country experiences with macroprudential policies (II)"
Macroprudential Measures for Addressing Housing Sector Risks
Turkey's Experience with Macroprudential Policy
The Macroprudential Policy Framework in New Zealand
Session 7: "Microprudential and macroprudential links and policy frameworks"
JEL Classification: E43, E58, F41, F42, G28
Suggested Citation: Suggested Citation