Fed Chair Bernanke: Research into Financial Crisis Essential
Research into the causes of the recent financial crisis and on systemic risk more broadly is critical in formulating macroprudential regulations and policies, Federal Reserve Chairman Ben Bernanke said in opening a Sept. 15 conference in Washington, DC.
Furthering research into policymaking
The nine papers presented at the conference focused on various aspects of the central bank's duty to maintain financial stability and contain systemic risk, as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The papers examined topics such as the rise and fall of mortgage securitization and related fluctuations in real estate lending, the causes and indicators of systemic risk and how well macroprudential regulations might address those causes, and specific regulations from a macroprudential perspective.
Working with an eye on the future
The conference proceedings will be published in special issues of the Journal of Money, Credit, and Banking and disseminated to researchers at central banks and academic institutions worldwide.
September 23, 2011