Building on Incomplete Foundations: Financial Stability Policy since the Crash

Author:

Barwell Richard

Abstract

Economists understand that a fit for purpose policy regime requires a reliable general equilibrium model of the system in question and a well specified description of the objectives that the policymaker is trying to pursue. The current financial stability regime has neither and without these critical foundations the regime is fundamentally fragile and incomplete. There is no anchor on the conduct of policy, an absence in genuine accountability and, as a result, reputational risks for policy institutions.

Publisher

Cambridge University Press (CUP)

Subject

General Economics, Econometrics and Finance

Reference40 articles.

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Cited by 1 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

1. Monetary Policy Normals, Future and Past;National Institute Economic Review;2017-08

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