Volume 13, Issue 3 September 2017

Policies for Crises Prevention and Management

Abstract

I discuss the role of debt in financial crises and macroprudential tools to manage debt. A principal conclusion is that changes in mortgage contract designs, an ex ante measure aimed at the household sector, can deliver significant welfare benefits.

Authors

  • Arvind Krishnamurthy

JEL codes

  • G01
  • G21
  • G28
  • E44
  • E58
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Leaning Against the Wind: Costs and Benefits, Effects on Debt, Leaning in DSGE Models, and a Framework for Comparison of Results

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Monetary Policy, the Financial Cycle, and Ultra-Low Interest Rates

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Low Interest Rates: Causes and Consequences

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Macroprudential Policy under Uncertainty

Saleem Bahaj and Angus Foulis

Lower-Bound Beliefs and Long-Term Interest Rates

Christian Grisse and Signe Krogstrup and Silvio Schumacher

Capital Injection to Banks versus Debt Relief to Households

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Leaning Against the Wind When Credit Bites Back

Karsten R. Gerdrup and Frank Hansen and Tord Krogh

Monetary Policy, Private Debt and Financial Stability Risks

Gregory H. Bauer and Eleonora Granziera