The question of whether central banks should target stock prices so as to prevent bubbles and crashes from occurring has been hotly debated. This paper analyses

Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the internation

Based on detailed research and consultation with experts, including the Bank of England, this book reviews theoretical and historical debates on the nature of m

This note provides guidance to facilitate the staff’s advice on macroprudential policy in Fund surveillance. It elaborates on the principles set out in the �

Central banks may operate perfectly well without capital as conventionally defined. A large negative net worth, however, is likely to compromise central bank in