Table of contents alert
Do you want to receive an email alert about new issue?


Volume 71, Issue 4


Corporate Governance of Financial Stability

Tůma, Zdeněk

Year: 2021   Volume: 71   Issue: 4   Pages: 268-281

Abstract: Financial stability has attracted the attention of central banks and policymakers for decades. The emphasis on the issue substantially increased after the global financial crisis. It led to new developments in the analytical field, as well as in the institutional area. This paper focuses on various aspects of institutional setups and compares two streams; one related to countries with separated supervision from the central bank, the other focusing on integrated supervision into the central bank. Institutional setups differ between these two regimes with the implications to internal corporate governance of central banks. We evaluate pros and cons of both systems and assess the impact on monetary policy and the inflation targeting framework.

JEL classification: E31, E52, E58, E61, G38

Keywords: monetary policy, supervision, financial stability, inflation targeting, macroprudential policy, central bank

DOI: https://doi.org/10.32065/CJEF.2021.04.01

RePEc: https://ideas.repec.org/a/fau/fauart/v71y2021i4p268-281.html

pdf Attachment [PDF] print Print   Recommend to others Recommend to others