Incorporating Financial Stability in Inflation Targeting Frameworks

Aydın, Burcu; Volkan, Engin

doi:10.2139/ssrn.1940810

SSRN Journal

2011

DOI: 10.2139/ssrn.1940810

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Incorporating Financial Stability in Inflation Targeting Frameworks

Burcu Aydın

Engin Volkan²

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Cited by 4 publications

(2 citation statements)

References 6 publications

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“…(2011) addresses the cross-sectional dimension of systemic risk in the Korean banking system. 4 See the Selected Issues Paper titled "Formalizing Financial Stability Consideration in the Conduct of Monetary Policy in Korea", in IMF (2011b) and Aydin and Volkan (2011). 5 We acknowledge that the issue of whether MaPPs are needed in addition to macroeconomic policies is still under debate in the literature and policy circles.…”

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Managing Non-Core Liabilities and Leverage of the Banking System: A Building Block for Macroprudential Policy Making in Korea

Alichi

Hong²,

Ryoo³

2012

IMF Working Papers

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Korea has been active in implementing targeted macroprudential policies to address specific financial stability concerns. In this paper, we develop a conceptual model that could serve as a building block for the broader framework of macroprudential policy making in Korea. It is assumed that the policy maker imposes taxes on key aggregate financial ratios in the banking system to mitigate excessive leverage over the economic cycle. The model is calibrated for Korea. The results illustrate how countercyclical tools, such as simple taxes on key financial ratios, could be incorporated to enrich the broader macroprudential policy framework in the Korean context.

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confidence: 99%

Managing Non-Core Liabilities and Leverage of the Banking System: A Building Block for Macroprudential Policy Making in Korea

Alichi

Hong²,

Ryoo³

2012

IMF Working Papers

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“…For a model which investigates possible refinements to an inflation targeting framework by incorporating financial stability considerations focusing on Korea, seeAydin and Volkan (2011).©International Monetary Fund. Not for Redistribution…”

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confidence: 99%

Did Korean Monetary Policy Help Soften the Impact of the Global Financial Crisis of 2008–09?

2012

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Behind the scenes of abandoning a fixed exchange rate regime

Kang¹

2013

Journal of Banking & Finance

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Incorporating Financial Stability in Inflation Targeting Frameworks

Cited by 4 publications

References 6 publications

Managing Non-Core Liabilities and Leverage of the Banking System: A Building Block for Macroprudential Policy Making in Korea

Managing Non-Core Liabilities and Leverage of the Banking System: A Building Block for Macroprudential Policy Making in Korea

Did Korean Monetary Policy Help Soften the Impact of the Global Financial Crisis of 2008–09?

Behind the scenes of abandoning a fixed exchange rate regime

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