Macroprudential Policy

Abstract

..................................................................................................................................................... ix Macroprudential regulation: history, theory and policy Turalay Kenç .............................................................................................................................................. 1 Session 1: "Macroprudential policy and its interactions with other policies" Credit cycles and macroprudential policy framework in emerging countries Salih Fendoğlu and Mustafa Kılınç ................................................................................................ 17 Monetary and macroprudential policies – exploring interactions Erlend Nier and Heedon Kang ........................................................................................................ 27 Session 2: "Spillover effects of macroprudential policy tools" Macroprudential policies and the Lucas Critique Bálint Horváth and Wolf Wagner .................................................................................................... 39 Cross-border spillovers from macroprudential policy in the euro area Luca Nocciola and Dawid Żochowski ........................................................................................... 45 Banking de-globalisation: a consequence of monetary and regulatory policies? Kristin Forbes, Dennis Reinhardt and Tomasz Wieladek ....................................................... 49 Session 3: "External shocks and macroprudential policy" External shocks, the exchange rate and macroprudential policy Philip Turner ............................................................................................................................................ 57 Capital Flows, credit cycles and macroprudential policy Yusuf Soner Baskaya, Julian di Giovanni, Sebnem Kalemli-Ozcan, Jose-Luis Peydro and Mehmet Fatih Ulu ....................................................................................................................... 63 Macroprudential policies in a commodity exporting economy Andrés González, Franz Hamann and Diego Rodríguez ........................................................ 69 Session 4: "Country experiences with macroprudential policies (I)" Managing systemic risks in the Croatian economy Boris Vujčić and Mirna Dumičić. ...................................................................................................... 75 Macroprudential policy regulation: some continuing challenges Manuel Ramos-Francia and Santiago García-Verdú ............................................................... 85