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The macro-micro conflict

Danielsson, Jon and Fouché, Morgane and Macrae, Robert (2015) The macro-micro conflict. VoxEU.org (20 Oct 2015). Opinion Piece.

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Abstract

There has always been conflict between macro- and microeconomic regulation. Microeconomic policy reigns supreme during good times, and macro during bad. This column explains that while the macro and micro objectives have always been present in regulatory design, their relative importance has varied according to the changing requirements of economic, financial and political cycles. The conflict between the two seems set to deepen and so, regardless of which ‘wins’, policymakers must not undermine the central bank's execution of monetary policy.

Item Type: Website (Opinion Piece)
Official URL: http://www.voxeu.org/
Additional Information: © 2015 The Author
Divisions: Finance
Systemic Risk Centre
Financial Markets Group
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management
H Social Sciences > HG Finance
Sets: Departments > Finance
Research centres and groups > Systemic Risk Centre
Research centres and groups > Financial Markets Group (FMG)
Date Deposited: 21 Jan 2016 17:25
Last Modified: 21 Jan 2016 17:34
URI: http://eprints.lse.ac.uk/id/eprint/65112

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