Monetary Policy and Financial Stability

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F26138077%3A_____%2F12%3A%230000312" target="_blank" >RIV/26138077:_____/12:#0000312 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Monetary Policy and Financial Stability
Original language description
The article deals with the interaction between monetary policy and financial stability. The discussion is focused on the impact of the world financial crisis on monetary policy orientation. The question is raised whether the established consensus on thegoals and instruments of monetary policy still holds. In the pre-crisis period the mainstream approach considered price stability and financial stability as two separated goals to be achieved through different policies and instruments. Monetary policy safeguards price stability whereas regulatory and supervisory framework is responsible for financial stability. The instruments of monetary policy were expected to cope only with the consequences of financial imbalances and asset price bubbles, ex post correcting their negative impact on the economy. Lessons from the financial crisis heed to a reassessment of that approach. In the article the ways towards a more active engagement of monetary policy in preserving financial stability are exa
Czech name
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Czech description
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Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Publication year
2012
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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