20286 - MONETARY POLICY AND FINANCIAL REGULATION
CLMG - M - IM - MM - AFC - CLAPI - CLEFIN-FINANCE - CLELI - ACME - DES-ESS - EMIT
Course taught in English
Go to class group/s: 31
The depth and breadth of the financial crisis motivates a reconsideration of financial regulation and within that the role of the central banks. The course analyzes the evolution of regulation and supervision of banking and financial markets with specific attention to Europe and US in order to identify main features, causes and effects. Regulation is considered as the outcome of interaction between the demand for rules, which responds to public needs, and the supply of regulation and supervision, which depends from the cost and benefits analysis of politicians, regulators and central bankers. The methodology uses recent results from economics, institutional and empirical analysis.
Part I: Central Banking and Supervision
- Monetary Policy, Banking and the Financial Crisis of 2008
- Public Goals. Lobbies, Politicians and Supervisors
- A Special Supervisor: the Central Bank
- Supervision: Theory and Institutions
- Supervision: Empirical Analysis
Part II: Regulation
- Regulation and the market mechanism in finance
- Re-regulation after the crisis: technical and political issues
- Monetary and financial macro-prudential rules
Textbooks will be available online starting from the beginning of the lessons.