Countercyclical macro prudential policies in a supporting role to monetary policy

Countercyclical macro prudential policies in a supporting role to monetary policy / prepared by Papa N'Diaye.

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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Bibliographic Details
Main Author: N'Diaye, Papa M'B. P. (Papa M'Bagnick Paté) (Author)
Corporate Author: International Monetary Fund. Asia and Pacific Department
Format: eBook
Language:English
Published: [Washington, D.C.] : International Monetary Fund, ©2009.
Series:IMF working paper ; WP/09/257.
Subjects:
Monetary policy.
Fiscal policy.
Fiscal policy
Monetary policy
Online Access:Click for online access
Table of Contents:
  • 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.

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