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Taming the Cycles of Finance?

Taming the Cycles of Finance? : Central Banks and the Macro-prudential Shift in Financial Regulation. 金融規制における中央銀行とマクロプルーデンシャル・シフト

・ISBN 978-1-009-23313-2 2023 hard GB£ 100.00

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電子版あり 大学・学術機関向け電子ブック(eBook)ISBN 978-1-009-23312-5

著者・編者Thiemann, Matthias,
出版社(Cambridge U. Pr., UK)
出版年月2023.12
ページ数352 pp.
言語ENG
ニュース番号<703-238>

解説

Macroprudential regulation is a set of economic and policy tools that aim to mitigate risk in the financial and banking systems. It was largely developed in response to the financial crisis of 2007-08, turning central banks into de facto financial policemen. Taming the Cycles of Finance traces the post-crisis rise of macroprudential regulation and argues that, despite its original aims, it typically supports finance in times of crisis but fails to curb it in times of booms. Investigating how different macroprudential frameworks developed in the UK, the USA and the Eurozone, the book explains how central bank economists went about building early warning systems to identify fragilities in the financial system. It then shows how administrative and political constraints limited the effects of this shift, as central banks were wary of intervening in a discretionary manner and policymakers were opposed to measures to limit credit growth.