G2TT
来源类型Discussion paper
规范类型论文
来源IDDP9875
DP9875 Macroprudential Policies in a Global Perspective
Olivier Jeanne
发表日期2014-03-09
出版年2014
语种英语
摘要This paper analyzes the case for the international coordination of macroprudential policies in the context of a simple theoretical framework. Both domestic macroprudential policies and prudential capital controls have international spillovers through their impact on capital flows. The uncoordinated use of macroprudential policies may lead to a "capital war" that depresses global interest rates. International coordination of macroprudential policies is not warranted, however, unless there is unemployment in some countries. There is scope for Pareto-improving international policy coordination when one part of the world is in a liquidity trap while the rest of the world accumulates reserves for prudential reasons.
主题International Macroeconomics
关键词Capital controls Capital flows International policy coordination International reserves Liquidity trap Macroprudential policy
URLhttps://cepr.org/publications/dp9875
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/538709
推荐引用方式
GB/T 7714
Olivier Jeanne. DP9875 Macroprudential Policies in a Global Perspective. 2014.
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