Paul Tucker is the author of Unelected Power, a Fellow at the Harvard Kennedy School, and a former central banker.

LONG BIO

Macroprudential policy as part of a broader financial stability regime: does it exist, what should it be?

Macroprudential policy is (supposedly) the dynamic component of financial stability policy. Leading researchers recently described its purpose as being to “moderate the procyclicality of the financial system and thereby secure the resilience and stability of the financial system as a whole.” READ THE FULL ARTICLE