Countercyclical macro prudential policies in a supporting role to monetary policy /
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| Author / Creator: | N'Diaye, Papa M'B. P. (Papa M'Bagnick Paté), author. |
|---|---|
| Imprint: | [Washington, D.C.] : International Monetary Fund, ©2009. |
| Description: | 1 online resource (22 pages) : illustrations (some color) |
| Language: | English |
| Series: | IMF working paper ; WP/09/257 IMF working paper ; WP/09/257. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12498356 |
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| 100 | 1 | |a N'Diaye, Papa M'B. P. |q (Papa M'Bagnick Paté), |e author. |0 http://id.loc.gov/authorities/names/no2005036380 | |
| 245 | 1 | 0 | |a Countercyclical macro prudential policies in a supporting role to monetary policy / |c prepared by Papa N'Diaye. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2009. | ||
| 300 | |a 1 online resource (22 pages) : |b illustrations (some color) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 340 | |g polychrome. |2 rdacc |0 http://rdaregistry.info/termList/RDAColourContent/1003 | ||
| 347 | |a data file | ||
| 490 | 1 | |a IMF working paper ; |v WP/09/257 | |
| 504 | |a Includes bibliographical references (page 22). | ||
| 520 | 3 | |a This paper explores how prudential regulations can support monetary policy in reducing output fluctuations while maintaining financial stability. It uses a new framework that blends a standard model for monetary policy analysis with a contingent claims model of financial sector vulnerabilities. The results suggest that binding countercyclical prudential regulations can help reduce output fluctuations and lessen the risk of financial instability. More specifically, countercyclical rules such as countercyclical capital adequacy rules, can allow monetary authorities to achieve the same output and inflation objectives but with smaller adjustments in interest rates. The countercyclical rules can help stem swings in asset prices, lean against a financial accelerator process, and thereby help to lower risks of macroeconomic and financial instability. In economies with fixed exchange rates, where countercyclical monetary policy is not possible, prudential regulations can provide a useful mechanism for mitigating a run-up in asset prices and for promoting output stability. | |
| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a I. Introduction; II. Overview of the CCA; III. Model Overview; A. Aggregate Demand Equation; B. Inflation; C. Core Inflation-Phillips curve; D. Okun's Law Relationship; E. Labor Income; F. Exchange Rate; G. Monetary Policy Rule; H. Yield Curve and Term Structure; I. Spreads and Balance Sheets; J. Uncertainty; K. Debt Dynamics; L. Financial Regulations; M. Equity; N. The Supply Side; IV. Illustrative Model Simulations; V. Conclusion; References. | |
| 650 | 0 | |a Monetary policy. |0 http://id.loc.gov/authorities/subjects/sh85086787 | |
| 650 | 0 | |a Fiscal policy. |0 http://id.loc.gov/authorities/subjects/sh85048601 | |
| 650 | 6 | |a Politique monétaire. | |
| 650 | 6 | |a Politique fiscale. | |
| 650 | 7 | |a Fiscal policy. |2 fast |0 (OCoLC)fst00925806 | |
| 650 | 7 | |a Monetary policy. |2 fast |0 (OCoLC)fst01025230 | |
| 655 | 7 | |a Electronic books. |2 gtlm | |
| 710 | 2 | |a International Monetary Fund. |b Asia and Pacific Department. |0 http://id.loc.gov/authorities/names/no97006778 | |
| 776 | 0 | 8 | |i Print version: |a Ndiaye, Papa. |t Countercyclical macro prudential policies in a supporting role to monetary policy. |d [Washington, DC] : International Monetary Fund (IMF), ©2009 |w (OCoLC)587446153 |
| 830 | 0 | |a IMF working paper ; |v WP/09/257. |0 http://id.loc.gov/authorities/names/no89010263 | |
| 856 | 4 | 0 | |u http://elibrary.imf.org/view/journals/001/2009/257/001.2009.issue-257-en.xml |y INTERNATIONAL MONETARY FUND |
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