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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP9875 |
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 |
URL | https://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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