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Lecture 3: How prudent are macro-prudential policies?

lseVenue: LSE, Financial Markets Group, Thursday 14th November 2013
Central banks and international financial organisations are working to create or resurrect a range of macro-prudential policies to supplement monetary policy.

Some of the arguments buttressing the contribution that macro prudential policies can make to financial stabilisation appear plausible.

This lecture draws on the historical record to examine whether we should
expect these policies to work in stabilising the financial system and/or asset markets, and examines what fish-hooks may arise with their application.

The experience of New Zealand which, prior to 1984, heavily utilised macro-prudential policies provides a warning not to expect too much from some of these instruments.

Chair: Professor Charles Goodhart, Respondent LSE, Professor David C. Webb, LSE

This event has now taken place.  Slideshow images by Nicola Tree.

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This lecture is now available as a video podcast: