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This paper provides the most comprehensive empirical study of the effectiveness of macroprudential instruments to date. Using data from 49 countries, the paper evaluates the effectiveness of macroprudential instruments in reducing systemic risk over time and across institutions and markets. The...
Persistent link: https://www.econbiz.de/10009369434
actions for crisis prevention and resolution. …
Persistent link: https://www.econbiz.de/10005605385
global crisis has been markedly different both among advanced and emerging economies. The steady improvement in the labor …
Persistent link: https://www.econbiz.de/10011243850
Panama’s extensive trade and financial linkages make it vulnerable to adverse external shocks, and this would have a sizable impact on Panama’s real activity. In the absence of monetary policy, macroprudential policy tools could usefully complement microprudential tools. A...
Persistent link: https://www.econbiz.de/10011244475
This Selected Issues paper considers the case of Poland to analyze global financial spillovers to emerging market (EM …-currency sovereign bond markets by increasing yield volatility and, beyond a certain threshold, amplifying these spillovers. …
Persistent link: https://www.econbiz.de/10011244926
Persistent link: https://www.econbiz.de/10011245810
The 2008 crisis underscored the interconnectedness of the international business cycle, with U.S. shocks leading to the … VAR (SVAR) using pre-crisis data. Our new method freely estimates the contemporaneous correlation matrix for underlying … commodity prices. Other advanced economic regions play a much smaller and regional role in growth spillovers. Our findings are …
Persistent link: https://www.econbiz.de/10008727802
This paper uses VAR models to examine the magnitude and sources of growth spillovers to the Baltics from key trading …-country spillovers to the Baltics with those from the EU outweighing spillovers from Russia. Shocks to the REER generally depress growth … of spillovers to the region which partly explains the realization of downside risks to the Baltics from the global …
Persistent link: https://www.econbiz.de/10008528644
Persistent link: https://www.econbiz.de/10011242526
This Selected Issues paper analyzes the key features of the Japanese business cycle, and investigates whether the current recovery differs from past recoveries. In particular, this paper poses the following questions: what are the main characteristics of Japanese business cycles since 1980, and...
Persistent link: https://www.econbiz.de/10005768608