Farah Daniela Mugrabi Otero - Macroprudential Policies: Pursuing Effective Coordination in an Evolving Financial Landscape

Le Recteur de l'Université catholique de Louvain fait savoir que

Farah Daniela Mugrabi Otero

soutiendra publiquement sa dissertation pour l'obtention du titre de Docteur en sciences économiques et de gestion

“Macroprudential Policies: Pursuing Effective Coordination in an Evolving Financial Landscape”

Abstract

After the Global Financial Crisis (GFC), Macroprudential Policies (MPP) have emerged as critical tools for safeguarding financial stability. MPP represent a shift from focusing solely on individual institutions to a systemic approach addressing vulnerabilities across the increasingly interconnected financial system and broader financial inclusion. The thesis addresses gaps in recent literature on MPP, such as advancing our knowledge of the interaction between Monetary Policy and MPP, cross-border contagion detection techniques, and the financial inclusion – financial stability (FI-FS) nexus

Its findings offer valuable insights for policymakers and researchers alike. First, inflation-targeting regimes appear to strengthen the effectiveness of MPP in mitigating banking systemic risks. Second, a novel method allows for the identification of multiple breaks in volatility and correlation parameters, a crucial aspect for improving cross-border contagion detection and optimizing the activation of MPP, e.g., limits on foreign exchange exposures. Lastly, MPP appear to be crucial in the context of broader financial inclusion driven by banks and non-banking financial institutions to mitigate banking systemic risk.

Mermbres du jury

Prof. Bertrand Candelon (UCLouvain), co-promoteur
Prof. Férdéric Vrins (UCLouvain), co-promoteur, secrétaire du jury
Prof. Francesca Monti (UCLouvain), présidente du jury
Prof. Paula Margaretic (Adolfo Ibañez University), évaluateur externe
Prof. Sami Ben Naceur (International Monetary Fund), évaluateur externe