As the pace of financial crises quickens and the volatility of economic shocks intensifies, we need new ways to understand and respond to instability. This program coordinates our research efforts on finance, macroeconomics, and monetary economics.
The subject matter of the financial stability research program is broad ranging from technical matters like the shadow banking system to broad policy debates such as the reform of the international monetary system. It is organized into task forces and smaller specialized research groups to investigate particular areas of research. The task forces include macroeconomic externalities and stability, Shadow banking, money and macroeconomics and RMB internationalization.
