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001470159 001__ 1470159
001470159 003__ OCoLC
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001470159 019__ $$a1388492369$$a1389610558
001470159 020__ $$a9783031335761$$q(electronic bk.)
001470159 020__ $$a3031335767$$q(electronic bk.)
001470159 020__ $$z3031335759
001470159 020__ $$z9783031335754
001470159 0247_ $$a10.1007/978-3-031-33576-1$$2doi
001470159 035__ $$aSP(OCoLC)1388637461
001470159 040__ $$aYDX$$beng$$cYDX$$dEBLCP$$dGW5XE
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001470159 049__ $$aISEA
001470159 050_4 $$aHG939.5
001470159 08204 $$a338.94100905
001470159 1001_ $$aKaprinis, Kosmas,$$d1983-
001470159 24514 $$aThe institutional structure of macroprudential policy in the UK /$$cKosmas Kaprinis.
001470159 260__ $$aCham, Switzerland :$$bSpringer,$$c2023.
001470159 300__ $$a1 online resource.
001470159 336__ $$atext$$btxt$$2rdacontent
001470159 337__ $$acomputer$$bc$$2rdamedia
001470159 338__ $$aonline resource$$bcr$$2rdacarrier
001470159 4901_ $$aStudies in European Economic Law and Regulation ;$$vv.26
001470159 504__ $$aIncludes bibliographical references.
001470159 5050_ $$aIntro -- The Institutional Structure of Macroprudential Policy in the UK: Accountability Between Brexit and Economic Connection with the Internal Market -- Acknowledgements -- Contents -- Abbreviations -- Chapter 1: Introduction -- 1.1 Background of the Book -- 1.2 Research Inquiry -- 1.3 Book Outline -- 1.3.1 Chapter 2: Financial Crisis: The Impact on the UK Economy -- 1.3.2 Chapter 3: The Macroprudential Shift: A Policy Pillar in the Making -- 1.3.3 Chapter 4: The Political Economy of MPP: Delegation and Accountability -- 1.3.4 Chapter 5: FPC: The Institutional Framework
001470159 5058_ $$a1.3.5 Chapter 6: Transparency Requirements of the FPC: The Accountability-Efficiency Trade-off -- 1.3.6 Chapter 7: The NEDs of the Court of the Bank of England: Non-executive Directors as Guardians of the Public Interest -- 1.3.7 Chapter 8: The Role of the Treasury Select Committee -- 1.3.8 Chapter 9: The Limits of Judicial Review -- 1.3.9 Chapter 10: International Bodies as an Extra-Legal Accountability Mechanism -- 1.3.10 Epilogue -- References -- Chapter 2: The Crisis Impact on the UK Economy -- 2.1 Introduction -- 2.2 The UK Financial Services Debate -- 2.3 Trajectory of the 2007-2009 Crisis
001470159 5058_ $$a2.4 Assessing the Domestic Consequences of the Crisis -- References -- Chapter 3: The Macroprudential Shift: A Policy Pillar in the Making -- 3.1 Introduction -- 3.2 The Limitations of Microprudential Regulation -- 3.3 Towards an Operational Definition of MPP -- 3.3.1 Financial Stability -- 3.3.2 Systemic Risk -- 3.3.3 Macroprudential Policy -- 3.4 An Overview of Systemic Risk Metrics and MPP Tools -- 3.4.1 Systemic Risk Metrics -- 3.4.2 Overview of MPP Tools -- 3.5 The Major Analytical Challenges Ahead: Ten Years After the Crisis -- References
001470159 5058_ $$aChapter 4: The Political Economy of MPP: Delegation and Accountability -- 4.1 Delegation of MPP as an 'Ulysses Pact' -- 4.1.1 Exploring the Technical Competences of Central Banks -- 4.1.2 Monetary Policy: A Prime Example of Time Inconsistent Policy -- 4.1.3 Time-Inconsistency in MPP as 'Inaction Bias' -- 4.1.4 The Interests of the Finance Industry -- 4.2 Public Interest vs. Regulatory Capture in MPP -- 4.2.1 Defining Public Interest in MPP -- 4.2.2 Regulatory Capture in MPP -- 4.3 An Accountability Framework for MPP Authorities -- 4.3.1 Theoretical Considerations
001470159 5058_ $$a4.3.2 Accountability in Central Banking -- 4.3.3 Compounding Challenges Towards an Accountability Framework for MPP -- 4.3.4 A Complementary Reputational Approach to Institutional Accountability -- References -- Chapter 5: FPC: The Institutional Framework -- 5.1 Introduction -- 5.2 The Lack of Institutional Focus Over Financial Stability -- 5.3 The Financial Services Act 2012 -- 5.3.1 PRA, FCA and Resolution Regime Reforms -- 5.3.2 The Institutional Framework of FPC -- 5.3.3 FPC: The First Ten Years, 2011-2020 -- 5.4 FPC: With Great Power Comes Great Accountability -- References
001470159 506__ $$aAccess limited to authorized users.
001470159 520__ $$aMacroprudential policy (MPP) has been one of the major initiatives in the post-2008 crisis restructuring of financial regulation. Under the macroprudential mandate, the regulator monitors and judiciously controls systemic risk in the financial system, in an attempt to minimise the probability and severity of a future financial crisis. The book reveals why MPP authorities are rightfully at the centre of a highly sensitive policy debate, as MPP necessitates the allocation of significant regulatory power to technocrats, while the highly technical nature of MPP makes policy evaluation challenging. Specific issues examined include: the importance of financial stability as a public policy goal; the political economy issues stemming from the delegation of MPP to an independent authority; and the definition of accountability in the context of MPP. Focusing on a case study on the Financial Policy Committee of the Bank of England, the macroprudential authority in the UK, the book develops the normative grounds to justify the need for accountability in the conduct of MPP, while also formulating the necessary institutional framework to ensure the accountability of MPP authorities.
001470159 588__ $$aOnline resource; title from PDF title page (SpringerLink, viewed July 11, 2023).
001470159 650_0 $$aMonetary policy$$zGreat Britain$$xHistory$$y21st century.
001470159 651_0 $$aGreat Britain$$xEconomic policy$$y1997-
001470159 655_0 $$aElectronic books.
001470159 77608 $$iPrint version: $$z3031335759$$z9783031335754$$w(OCoLC)1376741437
001470159 830_0 $$aStudies in European economic law and regulation ;$$vv. 26.
001470159 852__ $$bebk
001470159 85640 $$3Springer Nature$$uhttps://univsouthin.idm.oclc.org/login?url=https://link.springer.com/10.1007/978-3-031-33576-1$$zOnline Access$$91397441.1
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001470159 980__ $$aBIB
001470159 980__ $$aEBOOK
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