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Financial stability - major objective of the central banks

Author

Listed:
  • Jenica POPESCU

    (University of Craiova)

  • Mircea Gabriel CIOLPAN

    (Financial and Banking University, Bucharest)

Abstract

In terms of economic and financial globalization, central banks functions are to ensure not only monetary stability but also financial stability. The international financial crisis of 2007-2008, has shown that financial stability should be considered a priority objective, and the fact that monetary stability is a necessary and sufficient condition for the existence of financial stability is not always valid. The paper-work shows the links between monetary stability and financial stability, as well as the instruments of a macro-prudential adjustment aimed to stabilize the monetary and financial system in its macroeconomic dimension.

Suggested Citation

  • Jenica POPESCU & Mircea Gabriel CIOLPAN, 2012. "Financial stability - major objective of the central banks," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(14), pages 95-98, December.
    • Handle: RePEc:aio:fpvfcf:v:1:y:2012:i:14:p:95-98
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    File URL: http://feaa.ucv.ro/FPV/014-13.pdf
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    More about this item

    Keywords

    financial stability; monetary policy; price stability;
    All these keywords.

    JEL classification:

    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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