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A framework for macroprudential regulation that defines systemic risk and macroprudential policy, describes … macroprudential tools, and surveys the effectiveness of existing macroprudential regulation. … FinancialCrises -- 7 Measuring Systemic Risk -- 8 Systemic Risk and Microprudential Regulation -- 9 Systemic Risk and Macroprudential …
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Using a new dataset on sectoral credit exposures covering financial and non-financial sectors in 115 economies over the period 1940-2014, we document the following evidence that corporate debt plays a key role in explaining boom-bust cycles, financial crises, and slow macroeconomic recoveries:...
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Macroprudential policies − such as caps on loan-to-value and debt-to-income ratios, limits on credit growth and other balance sheet restrictions, (countercyclical) capital and reserve requirements and surcharges, and Pigouvian levies − have become part of the policy paradigm in emerging...
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October 2000 - Financial liberalization reduces imperfections in financial markets by reducing the agency costs of financial leverage. Small firms gain most from liberalization, because the favoritism of preferential credit directed to large firms tends to disappear under liberalization. Laeven...
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