engleski

A Brief Introduction to the World of Macroprudential Policy

Notwithstanding the rapid growth in the popularity of and the increasing number of research papers on macroprudential policy, the general public still has a relatively unclear perception of this concept. The main purpose of this paper is to explain briefly the most important concepts related to macroprudential policy and describe its objectives. Emphasis is put on explaining the main stages of a macroprudential cycle, the relationship between macroprudential policy and other economic policies, and the costs and benefits of macroprudential regulations.

macroprudential policy, financial stability, systemic risks

Acknowledgment: This work has been fully supported by Croatian Science Foundation under the project STatistical Modelling for REspoNse to Crisis and Economic GrowTH in WeStern Balkan Countries -STRENGTHS (project no. IP-2013-9402)