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Macroprudential Policies and The Covid-19 Pandemic: Risks and Challenges For Emerging Markets / Sebastian Edwards.
- Format:
- Book
- Author/Creator:
- Edwards, Sebastian.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w29441.
- NBER working paper series no. w29441
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2021.
- Summary:
- This paper deals with COVID and macroprudential regulations in emerging markets. I document the build-up of a sturdy macroprudential structure during 2009-2019, and the relaxation of regulations in 2020-2021, as part of the effort to deal with the sanitary emergency. I show that in every country, regulatory forbearance played a key role in the response to COVID. I discuss capital controls as macroprudential instruments. I argue that rebuilding the macroprudential fabric is important to reduce the costs of future systemic shocks. I maintain that post-COVID regulations should incorporate the risks associated with digital currencies.
- Notes:
- Print version record
- October 2021.
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