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1 Financia Editor Renata Karkowska - I Towards the Financial Stability - Macroprudential Policy and Perspective
2 Challenges Volume to Financial II, From Stability the Editor I Manager of ASERS PhD ASERS Laura Ștefănescu, Publishing Responsible for A&I in related databases PhD Rajmund Mirdala, Responsible for A&I in Perspective, WoS, WoK in ISI Models Thomson and Policies PhD Volume Laura Ungureanu, I Responsible for rewieving Scientific Board of Brikend Aziri, East European University, Macedonia Domenico Nicoló, University of Reggio Calabria, Italy Russell Pittman, Economic Analysis Group, Antitrust Division, U.S. Department of Justice, USA Copyright 2014 by, a business Copyright 2014 All Rights Reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except under the terms of the Romanian Copyright, Designs and Patents Law, without the permission in writing of the Publisher, Requests to the Publisher should be addressed to the Permissions Department. II. 2 vol. ISBN Vol. 1 Typeset in Arial Narrow by Printed and bound in Romania. How to order for orders and customer service enquiries: Books Collections are the initiative of Association of Sustainable Education, Research and Science to publish a series of books in many fields of knowledge with a special focus on emerging and frontier areas of scientific research. The books in these collections are based on relevant, authoritative and thought-provoking chapters written by experts to meet the requirements of executives, research scholars, academicians and students of master programs. Anonymous peer reviewers selected by the publisher provided many helpful comments and suggestions during the preparation of the manuscript for this book. They have also furnished a general assessment of the book's approach, coverage, organization, writing style and competitiveness.
3 Perspective, Challenges Models and to Financial Policies Stability Manager of PhD Laura Gavrilă (Ștefănescu), Responsible for A&I ASERS in related Publishing databases PhD Rajmund Mirdala, Responsible for A&I in WoS, WoK in ISI Thomson PhD Perspective, Laura Ungureanu, Models Responsible and Policies for rewieving Scientific Board of Brikend Aziri, East European University, Macedonia Domenico Nicoló, University of Reggio Calabria, Italy Russell Pittman, Economic Analysis Group, Antitrust Division, U.S. Department of Justice, USA Copyright by, a business Copyright 2014 All Rights Reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except under the terms of the Romanian Copyright, Designs and Patents Law, without the permission in writing of the Publisher, Requests to the Publisher should be addressed to the Permissions Department. Title:, I Editor: Reviewers: Renata Karkowska University of Warsaw, Faculty of Management, Poland Prof. Dr. Hans-Georg Petersen Pfeddersheimer Weg 33 D Berlin, Germany Douglas Gale Silver Professor, Department of Economics New York University, 19 West 4th Street New York, NY Andreas (Andy) Jobst International Monetary Fund (IMF) th Street NW Washington, DC Karsten Staehr Professor of International and Public Finance, Ph.D., Tallinn School of Economics and Business Administration Tallinn University of Technology Akadeemia tee 3-486, Tallinn, Estonia
4 Manager of PhD Laura Gavrilă (Ștefănescu), Responsible for A&I ASERS in related Publishing databases PhD Rajmund Mirdala, Responsible for A&I in WoS, WoK in ISI Thomson PhD Perspective, Laura Ungureanu, Models Responsible and Policies for rewieving Scientific Board of Brikend Aziri, East European University, Macedonia Domenico Nicoló, University of Reggio Calabria, Italy Russell Pittman, Economic Analysis Group, Antitrust Division, U.S. Department of Justice, USA Published by: Typesetting: Arial Narrow Edition: 1 st Printed by: Grafi Print Printing House, M. Kogălniceanu Street, 20, Number of pages: 199 Official webpage: /books.html Copyright 2014 by, a business unit of ASERS Ltd. Copyright 2014 by, a business 217
5 Financia Copyright 2014 by, a business 218
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