01710cas a2200253 a 4500 AALejournalIMF013424 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475546699 1018-5941 BD-DhAAL BD-DhAAL Agur, Itai. Rules, Discretion, and Macro-Prudential Policy / Itai Agur, Sunil Sharma. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (32 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The paper examines the implementation of macro-prudential policy. Given the coordination, flow of information, analysis, and communication required, macro-prudential frameworks will have weaknesses that make it hard to implement policy. And dealing with the political economy is also likely to be challenging. But limiting discretion through the formulation of macro-prudential rules is complicated by the difficulties in detecting and measuring systemic risk. The paper suggests that oversight is best served by having a strong baseline regulatory regime on which a time-varying macro-prudential policy can be added as conditions warrant and permit. Mode of access: Internet Sharma, Sunil. IMF Working Papers; Working Paper ; No. 2013/065 Full text available on IMF http://elibrary.imf.org/view/journals/001/2013/065/001.2013.issue-065-en.xml IMF e-Library