Procyclicality in the financial system: do we need a new macrofinancial stabilisation framework?

By W. R. White. 2006

133 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/19db5d6f3969e274a52452e934cad023ef75b3e2

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Citations in the corpus

The global credit boom: Challenges for macroeconomics and policy (2009, background): “As Turner (2009) and others have 35See, for example, White (2006a, 2006b).”
Monetary policy and financial (in)stability (2011, background): “This could impart a degree of asymmetry to the conduct of domestic monetary policy in the face of such disturbances„(White, 2006: 11).”
The New Political Economy of the Macroprudential Ideational Shift (2013, unknown): “First, Claudio Borio, William White and other BIS officials, examined how risk evolved over time with reference to the credit cycle, identifying the inherent ‘procyclicality’ of the financial system, or a tendency for lending and transacting to inflate asset prices and create financial booms (Borio,”
Capital Market Liberalization and Development (2008, background): “A similar explanation has been suggested by White (2005), who underscores how the ‘search for yield’ characteristic of low interest rate environments generates incentives for credit creation, carry trade, and leverage that easily build up asset bubbles.9 In developing countries with thin or small…”
What Can (Macro-) Prudential Policy do to Support Monetary Policy? (2007, unknown): “The risk is that, paradoxically, excessive resistance to “good deflations” can, over time, lead to “bad deflations”, if it supports the build-up of financial imbalances that eventually unwind (Borio and Filardo (2004), White (2006a)).”
Macro-Prudential Policies to Mitigate Financial System Vulnerabilities (2013, background): “2 In particular, the many works authored by Borio and White, including Borio and White (2003) and White (2006), highlighted the boom and bust patterns in financial markets and the need for broader tools.”