...This chapter provides a definition of macroprudential policy as a regime under which policymakers can dynamically adjust regulatory parameters to maintain a desired degree of resilience in the financial system. It list some desirable features of macroprudential policy: it should encompass both...

... Norway Reinhart Carmen Rogoff Kenneth Singapore This Time Is Different Reinhart and Rogoff Basel Committee on Banking Supervision Financial stability Financial Stability Board FSB Lehman Brothers Macroprudential policies tools instruments and supervision SIFI systemically important financial...

...Macroprudential policy, its toolbox and interactions with other policies are not completely established yet. Spain's ten-year experience with its dynamic provision provides a key reference. The analysis shows that dynamic provisions have proved useful to mitigate —to a limited extent— the buildup...

..., there is a strong case for using them as an instrument of macroprudential policy. Current account Emerging market economies EMEs Financial crises Financial liberalization and deregulation and crises Financial system or sector Heisenberg's uncertainty principle Liberalization financial Reform initiatives...

... of inflation rate Transmission Financial stability Fiscal policy Ireland Lehman Brothers Macroprudential policies tools instruments and supervision Resolution regimes Spain Central bank s Czech National Bank Interest rates New Zealand Reserve Bank of New Zealand Transparency Uncertainty...

..., and a renewed debate on capital controls. Preventive policies for reducing the risk of a crisis were also reconsidered, notably macroprudential policies, and stronger regulation of financial markets and institutions. The volume is policy oriented and presents the experience of various countries − advanced...

... policy is increasingly constrained by global financial conditions, especially in emerging markets. The chapter warns that while most macroprudential policies are aimed at the banking sector, future bouts of disruptions may happen elsewhere in the financial system, which would limit the effectiveness...

... of the crisis are very small and overwhelmed by the much larger costs in terms of increased unemployment. The paper concludes that monetary policy is not the right tool to deal with financial stability, and that macroprudential policies are much better suited to this task. Financial stability Monetary policy...