NIESR Conference: Financial Regulation: Dirk Schoenmaker

Governments around the world have embraced macroprudential policies but there is still no consensus on which indicators it should focus on. In this video, Dirk Schoenmaker suggests using credit growth and housing prices as key indicators to follow for macro-prudential policy. Given that macro-prudential policies are highly unpopular, they can’t be in the hands of politicians but should be in the hands of an independent body such as the central bank. This video was recorded at the 18^th March 2016 conference on Financial Regulation organized by NIESR and held at the Bank of England.