Table of Contents

Financial Cycles and the Real Economy

Financial Cycles and the Real Economy

Lessons for CESEE Countries

Edited by Ewald Nowotny, Doris Ritzberger-Grünwald and Peter Backé

What is the link between the financial cycle - financial booms, followed by busts - and the real economy? What is the direction of this link and how salient is this connection? This unique book examines these fundamental questions and offers a paramount contribution to the debate surrounding the recent financial and economic crisis.

Chapter 17: Financial cycles and macroprudential policy

Jan Willem van den End

Subjects: economics and finance, financial economics and regulation, money and banking

Extract

This chapter deals with macroprudential policy with regard to the financial cycle. It focuses on two key drivers of the financial cycle, namely credit risk and liquidity risk, and explains how authorities could deal with them with macroprudential policies.

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