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Central banks’ economic and political importance has grown in advanced economies since the start of the Great Financial Crisis in 2007. An unwillingness or inability of governments to use countercyclical fiscal policy has made monetary policy the only stabilization tool in town. However, much...
Persistent link: https://www.econbiz.de/10011084413
Central banks’ economic and political importance has grown in advanced economies since the start of the Great Financial Crisis in 2007. An unwillingness or inability of governments to use countercyclical fiscal policy has made monetary policy the only stabilization tool in town. However, much...
Persistent link: https://www.econbiz.de/10011114270
To be effective, programs of regulatory reform must address the incentive conflicts that intensify financial risk-taking and undermine government insolvency detection and crisis management. Subsidies to risk taking that large institutions extract from the financial safety net encourage managers...
Persistent link: https://www.econbiz.de/10010895758
legislative framework. This article looks into the claim that the FSA model has improved in terms of accountability in comparison …, reports and other sources, an assessment can be made as to whether the FSA provides more accountability. Evidence provided … here supports the conclusion that the FSA is both equipped with better accountability mechanisms and executes its functions …
Persistent link: https://www.econbiz.de/10005621440
In the decade following the 1998 financial crisis Russia’s banking system grew much larger and stronger – indeed, growth rates were dangerously high – but even before the onset of the current global crisis it continued to play a limited role in intermediating savings and investment,...
Persistent link: https://www.econbiz.de/10008498037
capable of conferring greater flexibility, compliance, enforcement and accountability. The setting of standards with „an …
Persistent link: https://www.econbiz.de/10009207095
El presente estudio evalúa los sitios web de transparencia de los gobiernos de 18 países Latinoamericanos por medio de la búsqueda en Internet, con el propósito de identificar tres tipos de requisitos relacionados con: (i) la revelación del contenido de la gestión de las finanzas...
Persistent link: https://www.econbiz.de/10010653212
those of shareholders. Introducing an institutionalized accountability mechanism consisting in the requirement for … accountability thus seem a promising direction for reining in excessive risk taking by executives. …
Persistent link: https://www.econbiz.de/10008515805
This study investigates the influence of macroprudential policies (MaPs) on corporate investment, employing firm-bank level microdata from the European Investment Bank Investment Survey (EIBIS) for the period 2015-2022. We initially document that MaP tightening, particularly through supply-based...
Persistent link: https://www.econbiz.de/10015194736
We examine the issue of the appropriate selection of macroprudential instruments according to the vulnerabilities identified and the policymakers' objectives using a version of the 3D DSGE model following Mendicino et al. (2020) and Hinterschweiger et al. (2021) calibrated for the euro area. We...
Persistent link: https://www.econbiz.de/10015199504