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Externalities and Macroprudential Policy

Author

Listed:
  • Gianni De Nicolo
  • Giovanni Favara
  • Lev Ratnovski

Abstract

This note overviews macroprudential policy options that have been proposed to address the systemic risks experienced during the recent financial crisis. It contributes to the policy debate by providing a taxonomy of macroprudential policies in terms of the specific negative externalities in the financial system that these policies are meant to address, and discusses their interrelations and some key implementation issues.

Suggested Citation

  • Gianni De Nicolo & Giovanni Favara & Lev Ratnovski, 2012. "Externalities and Macroprudential Policy," IMF Staff Discussion Notes 12/05, International Monetary Fund.
  • Handle: RePEc:imf:imfsdn:12/05
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