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Monetary Policy and Macroprudential Regulation : Whither Emerging Markets / Otaviano Canuto
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Canuto, Otaviano
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Banks & Banking Reform.
- Currencies and Exchange Rates.
- Debt Markets.
- Economic Theory & Research.
- Emerging economies.
- Emerging Markets.
- Inflation targeting.
- Macroeconomics and Economic Growth.
- Macroprudential regulation.
- Monetary policy.
- Poverty Reduction.
- Local Subjects:
- Banks & Banking Reform.
- Currencies and Exchange Rates.
- Debt Markets.
- Economic Theory & Research.
- Emerging economies.
- Emerging Markets.
- Inflation targeting.
- Macroeconomics and Economic Growth.
- Macroprudential regulation.
- Monetary policy.
- Poverty Reduction.
- Physical Description:
- 1 online resource (38 pages)
- Other Title:
- Monetary Policy and Macroprudential Regulation
- Place of Publication:
- Washington, D.C., The World Bank, 2013
- System Details:
- data file
- Summary:
- Confidence in combining inflation-targeting-cum-flexible-exchange-rate regimes with isolated microprudential regulation as a means to guarantee both macroeconomic and financial stability has been shattered by the scale and synchronization of asset price booms and busts that preceded the current global financial crisis. This paper has a two-fold purpose. On the one hand, it explores the implications and challenges of acknowledging the need for coordination between monetary policies and macroprudential regulation. On the other, it points out specific challenges currently faced by central bankers in emerging economies, as they cope with policy and regulatory coordination in a context of debt overhang and unconventional monetary policies in advanced economies.
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