Danielsson, Jon 
ORCID: 0009-0006-9844-7960 and Macrae, Robert
(2016)
The fatal flaw in macropru: it ignores political risk.
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Abstract
Political risk is a major cause of systemic financial risk. This column argues that both the integrity and the legitimacy of macroprudential policy, or ‘macropru’, depends on political risk being included with other risk factors. Yet it is usually excluded from macropru, and that could be a fatal flaw.
| Item Type: | Article |
|---|---|
| Official URL: | http://www.voxeu.org/ |
| Additional Information: | © 2016 VoxEU.org |
| Divisions: | Finance Systemic Risk Centre Financial Markets Group |
| Subjects: | H Social Sciences > HB Economic Theory |
| JEL classification: | E - Macroeconomics and Monetary Economics > E0 - General |
| Date Deposited: | 24 Mar 2017 15:08 |
| Last Modified: | 12 Dec 2024 01:18 |
| Projects: | ES/K002309/1 |
| Funders: | Economic and Social Research Council |
| URI: | http://eprints.lse.ac.uk/id/eprint/70703 |
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