Policy Frameworks in the Post-Crisis Environment:
The financial crisis revealed flaws in pre-crisis policy frameworks. Particular gaps included the failure of monetary and financial policies to incorporate fully the implications of the rapid pro-cyclical growth in financial leverage and risk-taking, especially across national borders, and the failu...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Weitere Verfasser: | |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2011
|
| Schriftenreihe: | OECD Economics Department Working Papers
no.857 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | The financial crisis revealed flaws in pre-crisis policy frameworks. Particular gaps included the failure of monetary and financial policies to incorporate fully the implications of the rapid pro-cyclical growth in financial leverage and risk-taking, especially across national borders, and the failure of fiscal policy to create sufficient space for policy manoeuvre in event of a crisis. During the crisis, the clear pre-crisis assignments of policy instruments to objectives became blurred, and the effectiveness of separate policy instruments became increasingly interdependent. In the early stages of the exit from the crisis, policy decisions continue to be made in an environment of high uncertainty. In the near term, important policy priorities are to support the recovery, to keep projected inflation close to target and to pursue internationally co-ordinated financial and structural reforms to enhance financial market resilience and strengthen the prospects for macroeconomic stability. In the medium term, the priority is to ensure that the overall policy framework is more robust than prior to the crisis, which may also require institutional reforms. There are good arguments for restoring a clear assignment of policy instruments to policy objectives and policy institutions, but for this to occur it will be especially important that well-founded and internationally consistent reforms to financial regulation and supervision are put in place. |
| Beschreibung: | 1 Online-Ressource (47 p.) 21 x 29.7cm. |
| DOI: | 10.1787/5kgdpn1w9lkb-en |
Internformat
MARC
| LEADER | 00000cam a22000002 4500 | ||
|---|---|---|---|
| 001 | ZDB-13-SOC-061261203 | ||
| 003 | DE-627-1 | ||
| 005 | 20231204120959.0 | ||
| 007 | cr uuu---uuuuu | ||
| 008 | 210204s2011 xx |||||o 00| ||eng c | ||
| 024 | 7 | |a 10.1787/5kgdpn1w9lkb-en |2 doi | |
| 035 | |a (DE-627-1)061261203 | ||
| 035 | |a (DE-599)KEP061261203 | ||
| 035 | |a (FR-PaOEC)5kgdpn1w9lkb-en | ||
| 035 | |a (EBP)061261203 | ||
| 040 | |a DE-627 |b ger |c DE-627 |e rda | ||
| 041 | |a eng | ||
| 084 | |a G28 |2 jelc | ||
| 084 | |a E58 |2 jelc | ||
| 084 | |a E52 |2 jelc | ||
| 084 | |a E62 |2 jelc | ||
| 084 | |a H12 |2 jelc | ||
| 100 | 1 | |a Pain, Nigel |e VerfasserIn |4 aut | |
| 245 | 1 | 0 | |a Policy Frameworks in the Post-Crisis Environment |c Nigel, Pain and Oliver, Röhn = Le cadre de la politique économique après la crise / Nigel, Pain et Oliver, Röhn |
| 246 | 3 | 3 | |a Le cadre de la politique économique après la crise |
| 264 | 1 | |a Paris |b OECD Publishing |c 2011 | |
| 300 | |a 1 Online-Ressource (47 p.) |c 21 x 29.7cm. | ||
| 336 | |a Text |b txt |2 rdacontent | ||
| 337 | |a Computermedien |b c |2 rdamedia | ||
| 338 | |a Online-Ressource |b cr |2 rdacarrier | ||
| 490 | 0 | |a OECD Economics Department Working Papers |v no.857 | |
| 520 | |a The financial crisis revealed flaws in pre-crisis policy frameworks. Particular gaps included the failure of monetary and financial policies to incorporate fully the implications of the rapid pro-cyclical growth in financial leverage and risk-taking, especially across national borders, and the failure of fiscal policy to create sufficient space for policy manoeuvre in event of a crisis. During the crisis, the clear pre-crisis assignments of policy instruments to objectives became blurred, and the effectiveness of separate policy instruments became increasingly interdependent. In the early stages of the exit from the crisis, policy decisions continue to be made in an environment of high uncertainty. In the near term, important policy priorities are to support the recovery, to keep projected inflation close to target and to pursue internationally co-ordinated financial and structural reforms to enhance financial market resilience and strengthen the prospects for macroeconomic stability. In the medium term, the priority is to ensure that the overall policy framework is more robust than prior to the crisis, which may also require institutional reforms. There are good arguments for restoring a clear assignment of policy instruments to policy objectives and policy institutions, but for this to occur it will be especially important that well-founded and internationally consistent reforms to financial regulation and supervision are put in place. | ||
| 650 | 4 | |a Economics | |
| 700 | 1 | |a Röhn, Oliver |e MitwirkendeR |4 ctb | |
| 856 | 4 | 0 | |l FWS01 |p ZDB-13-SOC |q FWS_PDA_SOC |u https://doi.org/10.1787/5kgdpn1w9lkb-en |3 Volltext |
| 912 | |a ZDB-13-SOC | ||
| 912 | |a ZDB-13-SOC | ||
| 951 | |a BO | ||
| 912 | |a ZDB-13-SOC | ||
| 049 | |a DE-863 | ||
Datensatz im Suchindex
| DE-BY-FWS_katkey | ZDB-13-SOC-061261203 |
|---|---|
| _version_ | 1804748658184290304 |
| adam_text | |
| any_adam_object | |
| author | Pain, Nigel |
| author2 | Röhn, Oliver |
| author2_role | ctb |
| author2_variant | o r or |
| author_facet | Pain, Nigel Röhn, Oliver |
| author_role | aut |
| author_sort | Pain, Nigel |
| author_variant | n p np |
| building | Verbundindex |
| bvnumber | localFWS |
| collection | ZDB-13-SOC |
| ctrlnum | (DE-627-1)061261203 (DE-599)KEP061261203 (FR-PaOEC)5kgdpn1w9lkb-en (EBP)061261203 |
| discipline | Wirtschaftswissenschaften |
| doi_str_mv | 10.1787/5kgdpn1w9lkb-en |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>02844cam a22004212 4500</leader><controlfield tag="001">ZDB-13-SOC-061261203</controlfield><controlfield tag="003">DE-627-1</controlfield><controlfield tag="005">20231204120959.0</controlfield><controlfield tag="007">cr uuu---uuuuu</controlfield><controlfield tag="008">210204s2011 xx |||||o 00| ||eng c</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1787/5kgdpn1w9lkb-en</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-627-1)061261203</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)KEP061261203</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(FR-PaOEC)5kgdpn1w9lkb-en</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(EBP)061261203</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-627</subfield><subfield code="b">ger</subfield><subfield code="c">DE-627</subfield><subfield code="e">rda</subfield></datafield><datafield tag="041" ind1=" " ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">G28</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">E58</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">E52</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">E62</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">H12</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Pain, Nigel</subfield><subfield code="e">VerfasserIn</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Policy Frameworks in the Post-Crisis Environment</subfield><subfield code="c">Nigel, Pain and Oliver, Röhn = Le cadre de la politique économique après la crise / Nigel, Pain et Oliver, Röhn</subfield></datafield><datafield tag="246" ind1="3" ind2="3"><subfield code="a">Le cadre de la politique économique après la crise</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Paris</subfield><subfield code="b">OECD Publishing</subfield><subfield code="c">2011</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (47 p.)</subfield><subfield code="c">21 x 29.7cm.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="a">Text</subfield><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="a">Computermedien</subfield><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="a">Online-Ressource</subfield><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">OECD Economics Department Working Papers</subfield><subfield code="v">no.857</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">The financial crisis revealed flaws in pre-crisis policy frameworks. Particular gaps included the failure of monetary and financial policies to incorporate fully the implications of the rapid pro-cyclical growth in financial leverage and risk-taking, especially across national borders, and the failure of fiscal policy to create sufficient space for policy manoeuvre in event of a crisis. During the crisis, the clear pre-crisis assignments of policy instruments to objectives became blurred, and the effectiveness of separate policy instruments became increasingly interdependent. In the early stages of the exit from the crisis, policy decisions continue to be made in an environment of high uncertainty. In the near term, important policy priorities are to support the recovery, to keep projected inflation close to target and to pursue internationally co-ordinated financial and structural reforms to enhance financial market resilience and strengthen the prospects for macroeconomic stability. In the medium term, the priority is to ensure that the overall policy framework is more robust than prior to the crisis, which may also require institutional reforms. There are good arguments for restoring a clear assignment of policy instruments to policy objectives and policy institutions, but for this to occur it will be especially important that well-founded and internationally consistent reforms to financial regulation and supervision are put in place.</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Economics</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Röhn, Oliver</subfield><subfield code="e">MitwirkendeR</subfield><subfield code="4">ctb</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="l">FWS01</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="q">FWS_PDA_SOC</subfield><subfield code="u">https://doi.org/10.1787/5kgdpn1w9lkb-en</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="951" ind1=" " ind2=" "><subfield code="a">BO</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-863</subfield></datafield></record></collection> |
| id | ZDB-13-SOC-061261203 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-16T15:07:22Z |
| institution | BVB |
| language | English |
| open_access_boolean | |
| owner | DE-863 DE-BY-FWS |
| owner_facet | DE-863 DE-BY-FWS |
| physical | 1 Online-Ressource (47 p.) 21 x 29.7cm. |
| psigel | ZDB-13-SOC |
| publishDate | 2011 |
| publishDateSearch | 2011 |
| publishDateSort | 2011 |
| publisher | OECD Publishing |
| record_format | marc |
| series2 | OECD Economics Department Working Papers |
| spelling | Pain, Nigel VerfasserIn aut Policy Frameworks in the Post-Crisis Environment Nigel, Pain and Oliver, Röhn = Le cadre de la politique économique après la crise / Nigel, Pain et Oliver, Röhn Le cadre de la politique économique après la crise Paris OECD Publishing 2011 1 Online-Ressource (47 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.857 The financial crisis revealed flaws in pre-crisis policy frameworks. Particular gaps included the failure of monetary and financial policies to incorporate fully the implications of the rapid pro-cyclical growth in financial leverage and risk-taking, especially across national borders, and the failure of fiscal policy to create sufficient space for policy manoeuvre in event of a crisis. During the crisis, the clear pre-crisis assignments of policy instruments to objectives became blurred, and the effectiveness of separate policy instruments became increasingly interdependent. In the early stages of the exit from the crisis, policy decisions continue to be made in an environment of high uncertainty. In the near term, important policy priorities are to support the recovery, to keep projected inflation close to target and to pursue internationally co-ordinated financial and structural reforms to enhance financial market resilience and strengthen the prospects for macroeconomic stability. In the medium term, the priority is to ensure that the overall policy framework is more robust than prior to the crisis, which may also require institutional reforms. There are good arguments for restoring a clear assignment of policy instruments to policy objectives and policy institutions, but for this to occur it will be especially important that well-founded and internationally consistent reforms to financial regulation and supervision are put in place. Economics Röhn, Oliver MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/5kgdpn1w9lkb-en Volltext |
| spellingShingle | Pain, Nigel Policy Frameworks in the Post-Crisis Environment Economics |
| title | Policy Frameworks in the Post-Crisis Environment |
| title_alt | Le cadre de la politique économique après la crise |
| title_auth | Policy Frameworks in the Post-Crisis Environment |
| title_exact_search | Policy Frameworks in the Post-Crisis Environment |
| title_full | Policy Frameworks in the Post-Crisis Environment Nigel, Pain and Oliver, Röhn = Le cadre de la politique économique après la crise / Nigel, Pain et Oliver, Röhn |
| title_fullStr | Policy Frameworks in the Post-Crisis Environment Nigel, Pain and Oliver, Röhn = Le cadre de la politique économique après la crise / Nigel, Pain et Oliver, Röhn |
| title_full_unstemmed | Policy Frameworks in the Post-Crisis Environment Nigel, Pain and Oliver, Röhn = Le cadre de la politique économique après la crise / Nigel, Pain et Oliver, Röhn |
| title_short | Policy Frameworks in the Post-Crisis Environment |
| title_sort | policy frameworks in the post crisis environment |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/5kgdpn1w9lkb-en |
| work_keys_str_mv | AT painnigel policyframeworksinthepostcrisisenvironment AT rohnoliver policyframeworksinthepostcrisisenvironment AT painnigel lecadredelapolitiqueeconomiqueapreslacrise AT rohnoliver lecadredelapolitiqueeconomiqueapreslacrise |