Taming the Cycles of Finance? by Matthias Thiemann

Taming the Cycles of Finance? by Matthias Thiemann

Macroprudential regulation is a set of economic and policy tools that aim to mitigate risk in the financial and banking systems. It was largely developed in response to the financial crisis of 2007-08, turning central banks into de facto financial policemen. Taming the Cycles of Finance traces the post-crisis rise of macroprudential regulation and argues that, despite its original aims, it typically supports finance in times of crisis but fails to curb it in times of booms. Investigating how different macroprudential frameworks developed in the UK, the USA and the Eurozone, the book explains how central bank economists went about building early warning systems to identify fragilities in the financial system. It then shows how administrative and political constraints limited the effects of this shift, as central banks were wary of intervening in a discretionary manner and policymakers were opposed to measures to limit credit growth.

'By building a political-economic narrative that is empirically authoritative, well written, superimposed on successive events, and linked to policy responses in a world of big stakes and powerful interests, the author has made a welcome contribution… Highly recommended.' I. Walter, Choice

Matthias Thiemann is associate professor of European public policy at sciences po's center for European studies. His work focuses on the ideational underpinnings of financial regulation and its policy effects. He published The Growth of Shadow Banking: A Comparative Institutional Analysis (2018) with Cambridge University Press.

SKU	Unavailable
ISBN 13	9781009233132
ISBN 10	1009233130
Title	Taming the Cycles of Finance?
Author	Matthias Thiemann
Condition	Unavailable
Publisher	Cambridge University Press
Year published	2024-02-22
Number of pages	352
Cover note	Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
Note	Unavailable