Some Concluding Remarks
Understanding the main components of macroprudential and monetary policy under the realm of the law provides a speculative basis upon which lawyers may discuss the current interplay between the two policies. Lawyers can play a role in this architectural construction by decomposing macroeconomic concepts and reconstructing them under a legal perspective. The understanding of how aggregate phenomena are supposed to work can allow lawyers to propose a menu of policy and regulatory options that may likely mitigate negative spillovers and inconsistent interactions. Where these interactions are recognized, sound legal arrangements should be put in place as to ensure a coherent system of checks and balance in the conduct of monetary policy and macroprudential banking supervision.
KeywordsPolicy Regulation Monetary policy Macroprudential banking supervision Macroeconomic concepts
- Svensson, Lars E.O. (2015). Monetary Policy and Macroprudential Policy: Different and Separate, Federal Reserve Bank of Boston’s 59th Economic Conference, Federal Reserve Bank of Boston, October 2–3, 2015.Google Scholar