The Conceptual Foundations of Macroprudential Policy : A Roadmap

This paper explores post-Lehman macroprudential regulation by interacting two types of market failures (principal-agent and collective action) with two cognition modes (unconstrained and constrained) in the context of aggregate risk. Four paradigms with orthogonal policy justifications are identifie...

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Bibliographic Details
Main Authors: de la Torre, Augusto, Ize, Alain
Format: Policy Research Working Paper
Language:English
en_US
Published: World Bank, Washington, DC 2013
Subjects:
TAX
Online Access:http://documents.worldbank.org/curated/en/2013/08/18112903/rhyme-reason-macroprudential-policy-four-guideposts-find-your-bearings-rhyme-reason-macroprudential-policy-four-guideposts-find-your-bearings
http://hdl.handle.net/10986/16009

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