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Countercyclical macro prudential policies in a supporting role to monetary policy /

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...

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Détails bibliographiques
Cote:Libro Electrónico
Auteur principal: N'Diaye, Papa M'B. P. (Papa M'Bagnick Paté) (Auteur)
Collectivité auteur: International Monetary Fund. Asia and Pacific Department
Format: Électronique eBook
Langue:Inglés
Publié: [Washington, D.C.] : International Monetary Fund, ©2009.
Collection:IMF working paper ; WP/09/257.
Sujets:
Accès en ligne:Texto completo
Table des matières:
  • 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.