Macro-Prudential Policies (MPP)

Course details

Target Audience:

Central bank and government agency economists and regulators with macroeconomic and supervisory responsibilities.

Qualification:

Participants are expected to have an advanced degree in economics or equivalent experience.

Language:

The course is conducted in English with simultaneous interpretation into Arabic.

Course Description:

This course, presented by IMF-CEF and the IMF’s Institute for Capacity Development (ICD) staff, starts with a motivation of the need for macro-prudential policies, and defines their objectives and instruments. After a brief review of macro-financial linkages in theory and some country experiences, the course focuses on the two main dimensions of macroprudential policies: time dimension (pro-cyclicality of financial systems); and cross section dimension (systemic risk). Two workshops offer hands-on exercises on measures of systemic risk using the network approach and Co-VaR. The course concludes with a discussion of issues related to the architecture of macroprudential policies (the roles of central banks and regulatory agencies, rules-versus-discretion, and others).