Stronger macro-prudential intervention may be needed – Minneapolis Fed paper
Shadow banking sector takes greater risks in times of stringent macro-prudential policy for banks, researcher finds
A recent paper examines how limited regulation enforcement can affect the design of optimal regulatory policy.
Julien Bengui looks to understand how significant “leakages” are – whether due to shadow banking, regulatory arbitrage, or other regulation circumvention schemes – to the limits and design of macro-prudential policy.
The method he uses characterises the optimal policy for different degrees of enforcement and then examines the extent to which leakages undermine the effectiveness of
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