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| Tekijä: | Goodhart, C. Schoenmaker, D. |
| Otsikko: | Should the functions of monetary policy and banking supervision be separated? |
| Lehti: | Oxford Economic Papers
1995 : OCT, VOL. 47:4, p. 539-560 |
| Asiasana: | MONETARY POLICY BANKING NIMEXE |
| Kieli: | eng |
| Tiivistelmä: | The paper investigates whether monetary policy and banking supervision should be separated. The main argument for separation is that the combination of functions might lead to a conflict of interest. An argument against is that separation is inconsistent with the central bank's concern for the systemic stability of the financial system. In a cross-country survey of 104 bank failures, the authors observe a trend towards using taxpayers' money for bank rescues which strengthens the case for hiving off the supervisory function to a government agency. |
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