Macroprudential Policy: Taming the wild gyrations of credit flows, debt stocks and asset prices

Author:   R. Barwell
Publisher:   Palgrave Macmillan
ISBN:  

9781137274458


Pages:   378
Publication Date:   07 May 2013
Format:   Hardback
Availability:   In Print   Availability explained
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Macroprudential Policy: Taming the wild gyrations of credit flows, debt stocks and asset prices


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Overview

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.

Full Product Details

Author:   R. Barwell
Publisher:   Palgrave Macmillan
Imprint:   Palgrave Macmillan
Dimensions:   Width: 15.50cm , Height: 2.70cm , Length: 23.50cm
Weight:   7.214kg
ISBN:  

9781137274458


ISBN 10:   113727445
Pages:   378
Publication Date:   07 May 2013
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   In Print   Availability explained
This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us.

Table of Contents

PART I: THE PRACTICE OF MACROPRUDENTIAL POLICY 1. Preliminaries 2. The Incalculable Costs of Financial Crises 3. Defining Financial Stability 4. Explaining the Failure to Act 5. A Whistle-stop Tour of the Microprudential Reform Agenda 6. The Design of Macroprudential Policy 7. Enter Macroprudential Policy 8. Resilience versus Credit Smoothing 9. A Cost Benefit Analysis of Macroprudential Policy 10. Managing the Contradictions 11. The Institutions of Macroprudential Policy 12. Macroprudential Policy in the United Kingdom 13. It ain't what you do, it's the reason you do it 14. The European Dimension 15. The Global Macroprudential Agenda 16. The Instruments of Macroprudential Policy 17. The Transmission of Policy 18. Capital Surcharges 19. Contingent Capital 20. Regulating the Liquidity Cycle 21. Lender of Last Resort 22. Market Maker of Last Resort 23. The Conduct of Macroprudential Policy 24. Canaries in the Coalmine 25. Macroprudential Policy from 30,000 Feet 26. The Sherlock Holmes Approach to Macroprudential Policy 27. Systemic Stress Tests 28. Macroprudential Regulation of the SIFIs PART II: THE THEORY OF MACROPRUDENTIAL POLICY 29. The Conventional Wisdom 30. Meet the Conventional Wisdom 31. The Key Pillars of the Classical Edifice 32. Walrasian Auctioneers: Nothing Worth Shouting About 33. The Representative Agent Assumption 34. The Irrelevance of Capital Structure 35. An Unstable System 36. The Mavericks 37. Following the Herd 38. Introducing Institutions 39. Credit Balance Sheets and Asset Prices 40. The Family Tree of Financial Crises 41. The Hysteresis Loop 42. The Liquidity Cycle 43. Final Thoughts 44. Are Financial Markets Worth the Heartache 45. The Way Ahead

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Author Information

Richard Barwell is currently senior European Economist at RBS Markets; previously he was a senior economist at the Bank of England, working on issues of both monetary and financial stability. However, the opinions and analysis presented in this book represent his personal views and his alone, not those of his current or former employer.

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