Macroprudential Policy [electronic resource] : Taming the wild gyrations of credit flows, debt stocks and asset prices /
Barwell, R.author.
The financial crisis of 2008 is probably the single most important economic event in post-war history. Macroprudential policy is the response to that crisis - a determined attempt to stabilize the financial system. This book explains why it is necessary, who will be responsible for executing this responsibility and how they will go about doing it.
Description based upon print version of record.
""Cover""; ""Contents""; ""Introduction""; ""Key Recommendations""; ""Acknowledgements""; ""Part I: The Practice of Macroprudential Policy""; ""1 Preliminaries""; ""1. The incalculable costs of financial crises""; ""2. Defining financial stability . . .""; ""3. Explaining the failure to act""; ""4. A whistle-stop tour of the microprudential reform agenda""; ""2 The Design of Macroprudential Policy""; ""1. Enter macroprudential policy""; ""2. Resilience versus credit smoothing""; ""3. A costâ€?benefit analysis of macroprudential policy""; ""4. Managing the contradictions""
""3 The Institutions of Macroprudential Policy""""1. Macroprudential policy in the United Kingdom""; ""2. It ainâ€?t what you do, itâ€?s the reason that you do it""; ""3. The European dimension""; ""4. The global macroprudential agenda""; ""4 The Instruments of Macroprudential Policy""; ""1. The transmission of policy""; ""2. Capital surcharges""; ""3. Contingent capital""; ""4. Regulating the liquidity cycle""; ""5. The lender of last resort ""; ""6. The marker maker of last resort""; ""5 The Conduct of Macroprudential Policy""; ""1. Canaries in the coalmine""
""2. Macroprudential policy from 30,000 feet""""3. The Sherlock Holmes approach to macroprudential policy""; ""4. Thinking the thinkable: systemic stress tests and Bayesian nets""; ""5. Macroprudential regulation of the SIFIs: separating science fact from science fiction""; ""Part II The Theory of Macroprudential Policy""; ""6 The Conventional Wisdom""; ""1. Meet the conventional wisdom""; ""2. The key pillars of the classical edifice""; ""3. Walrasian auctioneers: nothing worth shouting about""; ""4. The representative agent assumption""; ""5. The irrelevance of capital structure""
""7 An Unstable System""""1. The mavericks""; ""2. Following the herd""; ""3. Introducing institutions""; ""4. Credit, balance sheets and asset prices""; ""5. The family tree of financial crises""; ""6. The hysteresis loop""; ""7. The liquidity cycle""; ""8 Final Thoughts""; ""1. Are financial markets worth the heartache?""; ""2. The way ahead""; ""Bibliography""; ""Index""
Includes bibliographical references and index.
The financial crisis of 2008 is probably the single most important economic event in post-war history. Macroprudential policy is the response to that crisis - a determined attempt to stabilize the financial system. This book explains why it is necessary, who will be responsible for executing this responsibility and how they will go about doing it.
Risk management.
Macroeconomics.
Accounting.
Bookkeeping .
Banks and banking.
Finance, Public.
Risk Management.
Macroeconomics/Monetary Economics//Financial Economics.
Accounting/Auditing.
Banking.
Public Finance.