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612-822-4611
Macro-Financial Stability Policy in a Globalised World

Macro-Financial Stability Policy in a Globalised World

Hardcover

AccountingEconomicsInvesting & Finance

ISBN10: 9811259429
ISBN13: 9789811259425
Publisher: World Scientific Publishing Company
Published: Jan 8 2023
Pages: 728
Weight: 2.49
Height: 1.50 Width: 6.00 Depth: 9.00
Language: English

Since at least the Great Financial Crisis, authorities around the world have increasingly relied on macroprudential policy to help secure financial stability and complement monetary policy as an integral element of a broader macro-financial stability framework. In today's interconnected global financial system, policy actions taken by the major advanced economies can have spillovers on the rest of the world through their impact on capital flows and exchange rates, potentially generating vulnerabilities across borders. Conversely, in emerging market economies, macroprudential policy as well as foreign exchange intervention and/or capital flow management policy can help mitigate the corresponding impact. This can in turn generate spillbacks on advanced economies - spillbacks that have become more sizeable as the emerging market economies' heft in the world has grown. Yet little is known about these interactions.

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