Merler, Silvia, (2016), “The political economy of macroprudential policy”, Bruegel, 12 December
What’s at stake: the emergence of renewed interest in macroprudential policy has characterised the aftermath of the great recession. There is not yet full agreement on what the tasks of macroprudential policy is or how it should be carried out, but there is a clear understanding that there is an important political economy dimension to it. We review some of the recent contribution on this.
- Tressel, Thierry, Sophia Zhang, Yuanyan, (2016), “Effectiveness and Channels of Macroprudential Instruments : Lessons from the Euro Area”, IMF Publications, 12 January
- European Central Bank, (2016), “Addressing market failures in the resolution of nonperforming loans in the euro area”, ECB, 22 November