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Managing Non-Core Liabilities and Leverage of the Banking System; A Building Block for Macroprudential Policy Making in Korea

  • Ali Alichi
  • Cheol Hong
  • Sang Chul Ryoo
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    Korea has been active in implementing targeted macroprudential policies to address specific financial stability concerns. In this paper, we develop a conceptual model that could serve as a building block for the broader framework of macroprudential policy making in Korea. It is assumed that the policy maker imposes taxes on key aggregate financial ratios in the banking system to mitigate excessive leverage over the economic cycle. The model is calibrated for Korea. The results illustrate how countercyclical tools, such as simple taxes on key financial ratios, could be incorporated to enrich the broader macroprudential policy framework in the Korean context.

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    Paper provided by International Monetary Fund in its series IMF Working Papers with number 12/27.

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    Length: 20
    Date of creation: 01 Jan 2012
    Date of revision:
    Handle: RePEc:imf:imfwpa:12/27
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    1. Burcu Aydin & Engin Volkan, 2011. "Incorporating Financial Stability in Inflation Targeting Frameworks," IMF Working Papers 11/224, International Monetary Fund.
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