The SEACEN Centre is pleased to announce the release of policy brief on Governing Supply Shocks: Central Bank Instruments, Fiscal Space and Financial Resilience, co-authored by Ashutosh Jaiswal, Senior Financial Sector Specialist at the SEACEN Centre, together with Julia Bingler (Council on Economic Policies) and Laura Britt Fermo (ASEAN+3 Macroeconomic Research Office).
The policy brief draws on discussions from a roundtable convened in June 2026 by the ASEAN+3 Macroeconomic Research Office (AMRO), the Council on Economic Policies (CEP) and the SEACEN Centre. It examines the growing challenges posed by increasingly frequent and complex supply-side shocks and their implications for monetary policy, fiscal space and financial stability. The brief highlights the limitations of conventional monetary policy responses and explores the need for more differentiated policy instruments, coordinated policy approaches and preventive measures to strengthen economic and financial resilience. It also underscores the importance of addressing emerging vulnerabilities arising from eroding fiscal space, widening insurance protection gaps, technological developments and financial instability.
This collaborative publication reflects the SEACEN Centre’s commitment to fostering regional research partnerships and advancing policy-oriented research on emerging challenges facing central banks and financial authorities, thereby supporting knowledge sharing and strengthening the capacity of its Member Institutions on issues of strategic relevance.