E-mail alert  |  Contact  
Search:       Go  
Background  |   Sponsoring institutions  |   Editorial board   |   Advisory board   |   Associate editors
Call for papers  |   Submission guidelines  |   Editorial process
Current issue  |   Past issues  |  
March 2013 issue
List of authors
 
Li, Wei
Rai
Lustig
Maddalonia, Peydró
Martín-Oliver, Ruano, Salas-Fumás
Unsal
Benigno
He
IJCB Home   Read the journal   Past issue
Past issues
2017
 
December
September
June
March
February
2016
 
December
September
June
March
2015
 
December
September
June
March
January
2014
 
December
September
June
March
2013
 
December
September
June
March
January
2012
 
December
September
June
March
January
2011
 
December
September
June
March
2010
 
December
September
June
March
2009
 
December
September
June
March
2008
 
December
September
June
March
2007
 
December
September
June
March
2006
 
December
September
June
March
2005
 
December
September
May

Commentary on Macroprudential Policies

by Gianluca Benigno
London School of Economics

Abstract

This commentary is motivated by the papers “Banks’ Equity Capital Frictions, Capital Ratios, and Interest Rates: Evidence from Spanish Banks” by Alfredo Martin-Oliver, Sonia Ruano, and Vicente Salas-Fum´as (this issue) and “Capital Flows and Financial Stability: Monetary Policy and Macroprudential Responses” by D. Filiz Unsal (this issue): both papers focus on the implications of macroprudential policy measures. Indeed, recent events in macroeconomics and financial markets have shifted the attention towards the role and the consequences of policies aimed at preventing the occurrence of crisis events. The aforementioned papers are of topical interest and present insightful results from both a theoretical and empirical perspective. In my commentary I will first summarize the contributions of the two papers and then provide an overview of the fast-growing theoretical literature on macroprudential policy and briefly discuss some issues and future directions.

 
Full article (PDF, 11 pages 197 kb)