Macroprudential Policy: Silver Bullet or Refighting the Last War?

In the wake of the global financial crisis, policymakers, investors, and lenders analyzed the lead-up to the meltdown to see what changes could prevent another near-collapse. The result: a new focus on how macroprudential policy can reduce systemic risk. In this report we explore the emerging macroprudential policy discussion and the implications for broader monetary policy.

Updated/Published December 2, 2019