Liquidity, default and the interaction of financial stability and monetary policy
“Default is to macro-economics what sin is to theology: regrettable but central and essential”. The contemporaneous assessment of both liquidity and default within a framework of missing financial markets, multiple currencies, heterogeneous economic actors (i.e., investors, firms and intermediaries)...
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| Format: | Book section |
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Cambridge University Press
2018
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| _version_ | 1797084164236771328 |
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| author | Peiris, M Tsomocos, D Vardoulakis, A |
| author2 | Hartmann, P |
| author_facet | Hartmann, P Peiris, M Tsomocos, D Vardoulakis, A |
| author_sort | Peiris, M |
| collection | OXFORD |
| description | “Default is to macro-economics what sin is to theology: regrettable but central and essential”. The contemporaneous assessment of both liquidity and default within a framework of missing financial markets, multiple currencies, heterogeneous economic actors (i.e., investors, firms and intermediaries) and multiple externalities is warranted for analysing the interplay of financial and price stability. Thus, the complementarity and substitutability of regulatory and monetary policies can be identified and dissected. The optimal policy mix may be subsequently determined given the objectives of the fiscal and monetary authorities. |
| first_indexed | 2024-03-07T01:51:32Z |
| format | Book section |
| id | oxford-uuid:9a424b55-12c7-4952-9cd0-53e09823eb2b |
| institution | University of Oxford |
| last_indexed | 2024-03-07T01:51:32Z |
| publishDate | 2018 |
| publisher | Cambridge University Press |
| record_format | dspace |
| spelling | oxford-uuid:9a424b55-12c7-4952-9cd0-53e09823eb2b2022-03-27T00:20:12ZLiquidity, default and the interaction of financial stability and monetary policyBook sectionhttp://purl.org/coar/resource_type/c_3248uuid:9a424b55-12c7-4952-9cd0-53e09823eb2bSymplectic Elements at OxfordCambridge University Press2018Peiris, MTsomocos, DVardoulakis, AHartmann, PHuang, HSchoenmaker, D“Default is to macro-economics what sin is to theology: regrettable but central and essential”. The contemporaneous assessment of both liquidity and default within a framework of missing financial markets, multiple currencies, heterogeneous economic actors (i.e., investors, firms and intermediaries) and multiple externalities is warranted for analysing the interplay of financial and price stability. Thus, the complementarity and substitutability of regulatory and monetary policies can be identified and dissected. The optimal policy mix may be subsequently determined given the objectives of the fiscal and monetary authorities. |
| spellingShingle | Peiris, M Tsomocos, D Vardoulakis, A Liquidity, default and the interaction of financial stability and monetary policy |
| title | Liquidity, default and the interaction of financial stability and monetary policy |
| title_full | Liquidity, default and the interaction of financial stability and monetary policy |
| title_fullStr | Liquidity, default and the interaction of financial stability and monetary policy |
| title_full_unstemmed | Liquidity, default and the interaction of financial stability and monetary policy |
| title_short | Liquidity, default and the interaction of financial stability and monetary policy |
| title_sort | liquidity default and the interaction of financial stability and monetary policy |
| work_keys_str_mv | AT peirism liquiditydefaultandtheinteractionoffinancialstabilityandmonetarypolicy AT tsomocosd liquiditydefaultandtheinteractionoffinancialstabilityandmonetarypolicy AT vardoulakisa liquiditydefaultandtheinteractionoffinancialstabilityandmonetarypolicy |