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Systemic Risk and Macroprudential Regulation

In: The Global Macro Economy and Finance

Author

Listed:
  • Franklin Allen

    (University of Pennsylvania)

  • Elena Carletti

    (European University Institute)

Abstract

During the recent crisis microprudential regulation of the banking system turned out to be unable to maintain financial stability largely because it did not recognize the problem of systemic risk. This chapter discusses in detail the sources of systemic risk, their importance for financial stability and the macroprudential policies that are necessary to address them.

Suggested Citation

  • Franklin Allen & Elena Carletti, 2012. "Systemic Risk and Macroprudential Regulation," International Economic Association Series, in: Franklin Allen & Masahiko Aoki & Jean-Paul Fitoussi & Nobuhiro Kiyotaki & Roger Gordon & Joseph E. S (ed.), The Global Macro Economy and Finance, chapter 10, pages 191-210, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-137-03425-0_11
    DOI: 10.1057/9781137034250_11
    as

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    Citations

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    Cited by:

    1. Matthew O. Jackson & Agathe Pernoud, 2021. "Systemic Risk in Financial Networks: A Survey," Annual Review of Economics, Annual Reviews, vol. 13(1), pages 171-202, August.
    2. Billio, Monica & Casarin, Roberto & Costola, Michele & Pasqualini, Andrea, 2016. "An entropy-based early warning indicator for systemic risk," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 45(C), pages 42-59.
    3. Dieter Gramlich & Mikhail V. Oet & Stephen J. Ong, 2013. "Policy in adaptive financial markets—the use of systemic risk early warning tools," Working Papers (Old Series) 1309, Federal Reserve Bank of Cleveland.
    4. Conrad F. J. Beyers & Allan Freitas & Kojo A. Essel-Mensah & Reyno Seymore & Dimitrios P. Tsomocos, 2020. "A computable general equilibrium model for banking sector risk assessment in South Africa," Annals of Finance, Springer, vol. 16(2), pages 195-218, June.

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