Rules, Discretion, and Macro-Prudential Policy /

The paper examines the implementation of macro-prudential policy. Given the coordination, flow of information, analysis, and communication required, macro-prudential frameworks will have weaknesses that make it hard to implement policy. And dealing with the political economy is also likely to be cha...

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Bibliografske podrobnosti
Glavni avtor: Agur, Itai
Drugi avtorji: Sharma, Sunil
Format: Revija
Jezik:English
Izdano: Washington, D.C. : International Monetary Fund, 2013.
Serija:IMF Working Papers; Working Paper ; No. 2013/065
Online dostop:Full text available on IMF
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245 1 0 |a Rules, Discretion, and Macro-Prudential Policy /  |c Itai Agur, Sunil Sharma. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2013. 
300 |a 1 online resource (32 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a The paper examines the implementation of macro-prudential policy. Given the coordination, flow of information, analysis, and communication required, macro-prudential frameworks will have weaknesses that make it hard to implement policy. And dealing with the political economy is also likely to be challenging. But limiting discretion through the formulation of macro-prudential rules is complicated by the difficulties in detecting and measuring systemic risk. The paper suggests that oversight is best served by having a strong baseline regulatory regime on which a time-varying macro-prudential policy can be added as conditions warrant and permit. 
538 |a Mode of access: Internet 
700 1 |a Sharma, Sunil. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2013/065 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2013/065/001.2013.issue-065-en.xml  |z IMF e-Library