Abstract
One of the main lessons from the financial crisis over the past three years has been the need for the establishment of a macroprudential supervisor that oversees the health and stability of the overall financial system. The principles, tools, and transmission channels of such a new macroprudential policy framework are, however, not yet fully understood. The second financial stability conference of the International Journal of Central Banking (IJCB), hosted by Banco de España in Madrid on June 17–18, 2010, dealt with the topic of “The Theory and Practice of Macroprudential Regulation.” This issue of the IJCB contains selected papers and commentaries presented at that conference.
Authors
- Douglas Gale
- Rafael Repullo
- Til Schuermann
- Frank Smets