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regulation did not take the "big picture" of the system suffciently into account and, subsequently, financial supervision mainly … "missed the forest for the trees". As a result, the need for macroprudential aspects of regulation emerged, which has recently … macroprudential regulation in creating stable, yet effcient financial systems. At the same time, I emphasize the importance of …
Persistent link: https://www.econbiz.de/10011477338
sector fragility, bank stability, activity restrictions, capital regulation stringency, and banking supervision independence … capital regulation stringency and the independence of banking supervisory authorities weakened in countries where an increase …
Persistent link: https://www.econbiz.de/10013404488
This paper documents the features of a new database that focuses on changes in the intensity in the usage of several widely used prudential tools, taking into account both macro-prudential and microprudential objectives. The database coverage is broad, spanning 64 countries, and with quarterly...
Persistent link: https://www.econbiz.de/10011563021
thorny issues.Full publication: "http://ssrn.com/abstract=2002004" Financial Sector Regulation for Growth, Equity and …
Persistent link: https://www.econbiz.de/10013091279
Today policymakers in all the countries, shocked by the financial crisis of the 2007-2008, are reconsidering carefully the features of their supervisory regimes. This paper reviews the changing face of the financial supervisory regimes introducing new indicators to measure the level of...
Persistent link: https://www.econbiz.de/10013152103
This paper introduces a new comprehensive database of macroprudential policies, which combines information from various sources and covers 134 countries from January 1990 to December 2016. Using these data, we first confirm that loan-targeted instruments have a significant impact on household...
Persistent link: https://www.econbiz.de/10012888757
This paper uses the initial phase of the COVID-19 pandemic to examine how macroprudential frameworks developed over the past decade performed during a period of heightened financial and economic stress. It discusses a new measure of the macroprudential stance that better captures the intensity...
Persistent link: https://www.econbiz.de/10012818277
This paper documents the features of a new database that focuses on changes in the intensity in the usage of several widely used prudential tools, taking into account both macro-prudential and micro-prudential objectives.The database coverage is broad, spanning 64 countries, and with quarterly...
Persistent link: https://www.econbiz.de/10012977860
We integrate banks and the coexistence of bank and bond financing into an otherwise standard New Keynesian framework. There are two policy-makers: a central banker, who can decide on short-term nominal interest rates, and a macroprudential policy-maker, who can vary aggregate capital...
Persistent link: https://www.econbiz.de/10012851473
Using a recent IMF survey and expanding on previous studies, we document the use of macroprudential policies for 119 countries over the 2000-13 period, covering many instruments. Emerging economies use macroprudential policies most frequently, especially foreign exchange related ones, while...
Persistent link: https://www.econbiz.de/10013024432