Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/183337
Authors: 
Van der Ghote, Alejandro
Year of Publication: 
2018
Series/Report no.: 
ECB Working Paper No. 2155
Abstract: 
How to conduct macro-prudential regulation? How to coordinate monetary policy and macro-prudential policy? To address these questions, I develop a continuous-time New Keynesian economy in which a financial intermediary sector is subject to a leverage constraint. Coordination between monetary and macro-prudential policies helps to reduce the risk of entering into a financial crisis and speeds up exit from the crisis. The downside of coordination is variability in inflation and in the employment gap.
Subjects: 
Monetary Policy
Macro-prudential Policy
Policy Coordination
JEL: 
E31
E32
E44
E52
E61
G01
Persistent Identifier of the first edition: 
ISBN: 
978-92-899-3260-8
Document Type: 
Working Paper

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