to the tail of gross domestic product (GDP) growth. By combining a quantile regression of GDP growth with a vector … autoregression, we show that monetary and macroprudential policy shocks can reduce credit growth and thus GDP tail risk. So … policymakers concerned about GDP tail risk would choose a tighter policy stance at the expense of macroeconomic stability. Using …

shocks and the internal policy measures/responses; besides, GVA/GDP, credit, exports, external transactions, interest and … on overestimation of GDP/GVA growth estimates over the years from 2011-12 to about 2016-17 comprehensively. There is …