NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Macroprudential Policies in Open Emerging Economies

Joon-Ho Hahm, Frederic S. Mishkin, Hyun Song Shin, Kwanho Shin

NBER Working Paper No. 17780
Issued in January 2012
NBER Program(s):   EFG   ME

This paper examines macroprudential policies in open emerging economies. It discusses how the recent financial crisis has provided a rationale for macroprudential policies to help manage the economy and the need for policymakers to monitor the financial cycle and systemic risks. It also discusses one particularly promising measure of the state of the financial cycle, the growth of non-core liabilities of the financial sector, and evaluates macroprudential policy frameworks. The paper uses Korea as an example and conducts an empirical evaluation of non-core liabilities of Korean banks as a measure of the financial cycle.

You may purchase this paper on-line in .pdf format from SSRN.com ($5) for electronic delivery.

Information about Free Papers

You should expect a free download if you are a subscriber, a corporate associate of the NBER, a journalist, an employee of the U.S. federal government with a ".GOV" domain name, or a resident of nearly any developing country or transition economy.

If you usually get free papers at work/university but do not at home, you can either connect to your work VPN or proxy (if any) or elect to have a link to the paper emailed to your work email address below. The email address must be connected to a subscribing college, university, or other subscribing institution. Gmail and other free email addresses will not have access.

E-mail:

Acknowledgments and Disclosures

Machine-readable bibliographic record - MARC, RIS, BibTeX

Published: Hahm, Joon-Ho & Mishkin, Frederic S. & Shin, Hyun Song & Shin, Kwanho, 2011. "Macroprudential policies in open emerging economies," Proceedings, Federal Reserve Bank of San Francisco, issue Nov, pages 63-114.

Users who downloaded this paper also downloaded these:
Bruno and Shin w19084 Assessing Macroprudential Policies: Case of Korea
Mishkin w16755 Monetary Policy Strategy: Lessons from the Crisis
Shin and Shin w16836 Procyclicality and Monetary Aggregates
Hahm, Shin, and Shin w18428 Non-Core Bank Liabilities and Financial Vulnerability
Gorton and Metrick w17778 Getting up to Speed on the Financial Crisis: A One-Weekend-Reader's Guide
 
Publications
Activities
Meetings
Data
People
About

Support
National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us