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The Conceptual Foundations of Macroprudential Policy : A Roadmap

This paper explores post-Lehman macroprudential regulation by interacting two types of market failures (principal-agent and collective action) with two cognition modes (unconstrained and constrained) in the context of aggregate risk. Four paradigms with orthogonal policy justifications are identifie...

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Bibliographic Details
Main Authors: de la Torre, Augusto, Ize, Alain
Language:English
en_US
Published: World Bank, Washington, DC 2013
Subjects:
ACCELERATOR
ADVANCED ECONOMIES
ADVERSE EFFECTS
ADVERSE IMPACT
ADVERSE SELECTION
AGENCY COSTS
ARBITRAGE
ASSET PRICE
ASSET PRICES
BAILOUTS
BANK CREDIT
BANK FAILURES
BANK OF ENGLAND
BANK PANICS
BANK REGULATION
BANKING CRISES
BANKING CRISIS
BANKING PANICS
BORROWING
BOUNDED RATIONALITY
BUSINESS CYCLE
BUSINESS CYCLES
CAPITAL REGULATION
CAPITAL REQUIREMENTS
CENTRAL BANKS
COLLATERAL
COLLECTIVE ACTION
COLLECTIVE ACTION PROBLEMS
COMMERCIAL BANKING
COMPARATIVE ADVANTAGE
COMPARATIVE ADVANTAGES
COMPENSATION SYSTEMS
CONSUMER PROTECTION
COORDINATION FAILURES
CREDIT EXPANSION
CREDIT POLICIES
CREDITORS
DEBT
DEPOSIT
DEPOSIT INSURANCE
DEPOSITORS
DEVELOPMENT BANK
DEVELOPMENT POLICY
DISCLOSURE REQUIREMENTS
DRIVERS
ECONOMETRICS
ECONOMIC PERFORMANCE
ECONOMIC RESEARCH
ECONOMIC SURVEYS
ECONOMIC THEORY
ECONOMICS
EXCESS LIQUIDITY
EXPECTED UTILITY
EXPOSURE
EXTERNALITIES
EXTERNALITY
FAILURE RESOLUTION
FEDERAL RESERVE
FEDERAL RESERVE BANK
FINANCIAL AUTHORITIES
FINANCIAL CONTAGION
FINANCIAL CONTRACTS
FINANCIAL CRISES
FINANCIAL CRISIS
FINANCIAL DEVELOPMENT
FINANCIAL FRAGILITY
FINANCIAL INNOVATION
FINANCIAL INSTABILITY
FINANCIAL INSTITUTION
FINANCIAL INSTITUTIONS
FINANCIAL INTERMEDIARIES
FINANCIAL MARKET
FINANCIAL MARKET PARTICIPANTS
FINANCIAL MARKETS
FINANCIAL REGULATION
FINANCIAL SAFETY NET
FINANCIAL SECTOR
FINANCIAL STABILITY
FINANCIAL STRUCTURE
FINANCIAL STUDIES
FINANCIAL SYSTEM
FINANCIAL SYSTEMS
FINANCIAL VOLATILITY
GENERAL EQUILIBRIUM
GENERAL EQUILIBRIUM ANALYSIS
HOLDING
INDIVIDUAL MARKET
INFORMATION ASYMMETRIES
INFORMATION ASYMMETRY
INFORMATION PROCESSING
INFORMATION TECHNOLOGY
INNOVATION
INTEREST RATES
INTERNATIONAL BANK
INTERNATIONAL FINANCE
INVESTMENT CHOICES
INVESTMENT DECISIONS
IRRATIONAL EXUBERANCE
LENDER
LENDER OF LAST RESORT
LIQUID ASSETS
LIQUIDITY
LIQUIDITY PROBLEMS
LIQUIDITY RISK
LOAN
MACROECONOMIC CONTEXT
MACROECONOMIC POLICY
MACROECONOMICS
MARK-TO-MARKET
MARK-TO-MARKET ACCOUNTING
MARKET DISCIPLINE
MARKET FAILURE
MARKET FAILURES
MARKET LIQUIDITY
MARKET PARTICIPANT
MARKET PARTICIPANTS
MARKET PLAYERS
MARKET PRICES
MARKET PRICING
MARKET REQUIREMENTS
MATURITY
MATURITY MISMATCH
MONETARY POLICY
MORAL HAZARD
NEGATIVE EXTERNALITIES
PAYMENT SYSTEM
PAYMENT SYSTEMS
PECUNIARY EXTERNALITIES
POLICY RESPONSE
POLICY RESPONSES
POLITICAL ECONOMY
PORTFOLIO
PRIVATE CAPITAL
PRUDENTIAL REGULATION
PRUDENTIAL REQUIREMENTS
PUBLIC DEBT
PUBLIC GOOD
PUBLIC INVESTMENT
PUT OPTION
RATING AGENCIES
REGULATOR
REGULATORS
REGULATORY FRAMEWORK
REGULATORY REQUIREMENTS
RESERVE
RESERVE REQUIREMENTS
RETURN
RETURNS
RISK MANAGEMENT
RISK TAKING
SAFETY
SAFETY NET
SHAREHOLDERS
SIDE EFFECTS
SOCIAL BENEFITS
SOCIAL COSTS
SOLVENCY
SYSTEMIC RISK
SYSTEMIC RISKS
TAX
TAXATION
TRADING
UTILITY MAXIMIZATION
UTILITY THEORY
VOLATILITY
WEALTH
WHOLESALE FUNDING
Online Access:http://documents.worldbank.org/curated/en/2013/08/18112903/rhyme-reason-macroprudential-policy-four-guideposts-find-your-bearings-rhyme-reason-macroprudential-policy-four-guideposts-find-your-bearings
http://hdl.handle.net/10986/16009

Internet

http://documents.worldbank.org/curated/en/2013/08/18112903/rhyme-reason-macroprudential-policy-four-guideposts-find-your-bearings-rhyme-reason-macroprudential-policy-four-guideposts-find-your-bearings
http://hdl.handle.net/10986/16009

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