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variable for measuring financial imbalances. The cycle can be curbed by leverage restrictions that might vary across countries …
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How does monetary policy impact upon macroprudential regulation? This paper models monetary policy's transmission to …, a leverage ratio, to maintain financial stability, while taking account of the impact on credit provision. A change in …, monetary policy affects financial stability, even in the presence of macroprudential regulation …
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This document analyzes the patterns of fiscal and monetary policy in five economies of the Latin American Southern Cone (Argentina, Brazil, Chile, Paraguay and Uruguay) during four episodes of international crises: 1994, 1997-1999, 2001 and 2008. In contrast with earlier episodes when most...
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unemployment dynamics. The findings point to potential gains from policy complementarities between macroprudential regulation and …
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raising capital buffers during leverage expansions can reduce the frequency of crises by more than half. Second, I show that …
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