Optimal Time-Consistent Macroprudential Policy

By Javier Bianchi, Enrique G. Mendoza. Journal of Political Economy, 2017

303 citations recorded by the source corpus.

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Managing credit booms and busts: A Pigouvian taxation approach (2019, unknown): “Bianchi and Mendoza (2018) also analyze pecuniary externalities in a dynamic model with price-dependent collateral constraints.”
Wholesale Banking and Bank Runs in Macroeconomic Modeling of Financial Crises (2016, background): “There is now a significant literature that analyzes the impact of capital requirements on banks for macroeconomic stability (eg, Christiano and Ikeda, 2014; Begenau, 2015; Bianchi and Mendoza, 2013; Chari and Kehoe, 2015; Gertler et al., 2012).”
A Fisherian approach to financial crises: Lessons from the Sudden Stops literature (2020, unknown): “…on discriminating foreign from domestic credit sources (Bianchi, 2011; Mendoza and Rojas, 2019).6 It is worth noting also that leakages in capital controls do not necessarily call for softer regulation, and in fact, optimal policy may call for even stronger regulation (Bengui and Bianchi, 2018).”