Monetary policies are among the causes of the crisis and amplify regulatory failures. Monetary and prudential measures have complementary roles in providing financial stability. The past and future of the relationship between monetary and prudential policies are discussed, leading to the concept of macroprudential controls. The concept is then analyzed and discussed together with the issues to be addressed for optimising the role of central banks as systemic regulators.
Rules for money and rules for finance: a new relationship after the crisis?
BRUNI, FRANCO
2011
Abstract
Monetary policies are among the causes of the crisis and amplify regulatory failures. Monetary and prudential measures have complementary roles in providing financial stability. The past and future of the relationship between monetary and prudential policies are discussed, leading to the concept of macroprudential controls. The concept is then analyzed and discussed together with the issues to be addressed for optimising the role of central banks as systemic regulators.
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