The role of macro-prudential policy in the prevention and correction of imbalances in the euro area
The euro area suffers from economic and financial imbalances between its members. Macro-prudential policy can help remedy this in as much as it can be deployed both at euro area level and Member State level. A macro-prudential policy framework to regulate financial cycles at Member State level and improve the resilience of systemic groups at euro area level would improve the economic and financial stability of the euro area and each of its members. Drawing on an inventory of the current practices and the teachings of recent academic work, we have formulated 15 proposals which aim to identify effective macro-prudential instruments to achieve this stability and, in a context of institutional transformation (Banking Union, Brexit, etc.) likely to facilitate changes, to streamline the institutional framework.
Estudio
Autor externo
Jézabel Couppey-Soubeyran, Salim Dehmej
Acerca de este documento
Tipo de publicación
Palabra clave
- análisis económico
- ASUNTOS FINANCIEROS
- banco central
- control financiero
- cooperación económica
- ECONOMÍA
- economía monetaria
- entidad de crédito
- estabilidad financiera
- estabilización económica
- finanzas de la Unión Europea
- instituciones financieras y de crédito
- instrumento financiero de la UE
- INTERCAMBIOS ECONÓMICOS Y COMERCIALES
- libre circulación de capitales
- macroeconomía
- mercado financiero
- política comercial
- política de cooperación
- presupuesto
- RELACIONES INTERNACIONALES
- relaciones monetarias
- situación económica
- unión bancaria de la UE
- UNIÓN EUROPEA
- vigilancia del mercado
- zona euro