Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/296885 
Year of Publication: 
2022
Series/Report no.: 
IES Occasional Paper No. 1/2022
Publisher: 
Charles University in Prague, Institute of Economic Studies (IES), Prague
Abstract: 
We surveyed experts from academia, central banks and other regulatory institutions on the preferred institutional setup of macroprudential policy and the underlying interactions stemming from the conduct of monetary and macroprudential policy. We find substantial support for the integration setup, under which macroprudential policy is entrusted to the central bank and not to a separate institution. The most significant factors driving the respondents' views are the large degree of interdependence of the two policies, the potential information gains from keeping them 'under one roof', and a greater capability to resolve strategic conflicts. We identify non-negligible heterogeneity in the responses, especially in terms of respondents' age, managerial position and research orientation.
Subjects: 
central banking
expert survey
institutional arrangement
macroprudential policy
monetary policy
JEL: 
C83
E52
E58
G21
G28
Document Type: 
Working Paper

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