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Commentary: Policies for Crises Prevention and Management

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  • Arvind Krishnamurthy

    (Stanford University, Graduate School of Business and National Bureau of Economic Research)

Abstract

I discuss the role of debt in financial crises and macroprudential tools to manage debt. A principal conclusion is that changes in mortgage contract designs, an ex ante measure aimed at the household sector, can deliver significant welfare benefits.

Suggested Citation

  • Arvind Krishnamurthy, 2017. "Commentary: Policies for Crises Prevention and Management," International Journal of Central Banking, International Journal of Central Banking, vol. 13(3), pages 277-285, September.
  • Handle: RePEc:ijc:ijcjou:y:2017:q:3:a:7
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