Sunday, February 20, 2011

Word Watch: Macroprudential

For "Macroprudential Analysis," The OECD offers:
The assessment and monitoring of the strengths and vulnerabilities of financial systems. It encompasses quantitative information from both FSIs and macroeconomic indicators that provide (1) a broader picture of economic and financial circumstances such as GDP growth and inflation, along with information on the structure of the financial system, and (2) qualitative information on the institutional and regulatory framework—particularly through assessments of compliance with international financial sector standards and codes—and the outcome of stress tests. 
...all with a 2004 source. The Economist's search base (extending to 1997) brings up a total of 15 instances, the earliest 2003, two last week.  Anna Gelpern leads off with it this weekend at Credit Slips.  Google reports "about 120,000" hits, 70,000 in the last year, 10,300 in the past week.  I see that the Bank of England is looking for an economist on its Macroprudential Policy Design Team (salary,£40 - 45,000).   We may look forward to a Journal of Macroprudential Studies, a Center for Macroprudential Policy, a masters' in Macroprudentialistics.

So far, no sightings for "microprofligate."

1 comment:

Ken Houghton said...

Micro is always profligate. The need for a journal of that name is negated by the continued publication of the QJE.