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The economic crisis: Did supervision architecture and governance matter?
Masciandaro, Donato; Pansini, Rosaria Vega; Quintyn, Marc - In: Journal of Financial Stability 9 (2013) 4, pp. 578-596
modifications in the architecture and governance. Did these improvements mitigate the 2008–2009 Crisis? This paper brings the first … improving supervisory governance. The analysis employs a new and complex database on supervisory architecture and governance for …—supervisory consolidation and supervisory governance—were negatively correlated with resilience, while central bank involvement in supervision …
Persistent link: https://www.econbiz.de/10011046543
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Makroprudenzielle Regulierung : eine kurze Einführung und ein Überblick
Velauthapillai, Jeyakrishna - 2015
Obwohl die Idee der makroökonomischen Perspektive der Regulierung des Banken- und Finanzmarktes bereits in den 1970er und 1980er Jahren entstand, hat dieser Ansatz erst durch die Immobilien- und Finanzkrise dieses Jahrhunderts große Bedeutung erlangt. Aufgrund mangelnder Erfahrungen der...
Persistent link: https://www.econbiz.de/10011326318
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Loan-to-value policy as a macroprudential tool : the case of residential mortgage loans in Asia
Morgan, Peter J.; Regis, Paulo José; Salike, Nimesh - 2015
Credit creation in the housing market has been a key source of systemic financial risk, and therefore is at the center of the debate on macroprudential policies. The loan-to-value (LTV) ratio is a widely used macroprudential tool aimed at moderating mortgage loan creation, and its effectiveness...
Persistent link: https://www.econbiz.de/10010526757
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Macroprudential regulation and the role of monetary policy
Tayler, William; Zilberman, Roy - 2014
This paper examines the macroprudential roles of bank capital regulation and monetary policy in a Dynamic Stochastic … toolkit. Following credit shocks, countercyclical bank capital regulation is more effective than monetary policy in promoting … financial, price and overall macroeconomic stability. For supply shocks, macroprudential regulation combined with a strong …
Persistent link: https://www.econbiz.de/10010377051
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Interactions of monetary and macroprudential policies in a model of the Korean economy : conference paper
Afanasyeva, Elena; Karasulu, Meral - 2013 - This Version: February 2013
We use a microfounded dynamic stochastic general equilibrium (DSGE) model with banks to study interactions between monetary and macroprudential policies in a small open economy. The model is calibrated/estimated for Korea. Cooperation of monetary and macroprudential policies is optimal under a...
Persistent link: https://www.econbiz.de/10010340613
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Makroprudenzielle Politik
Buch, Claudia M.; Reich, Jens; Weigert, Benjamin - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 96 (2016) 8, pp. 557-562
Makroprudenzielle Politik hat das Ziel, die Stabilität des Finanzsystems zu überwachen und zu sichern. Systemrisiken entstehen, wenn Schieflagen in Teilen des Finanzsystems die Funktionsweise der Finanzmärkte und damit die realwirtschaftliche Entwicklung beeinträchtigen. Ziel dieser Politik...
Persistent link: https://www.econbiz.de/10011521486
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Changes in prudential policy instruments : a new cross-country database
Cerutti, Eugenio M.; Correa, Ricardo; Fiorentino, Elisabetta - 2016
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
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On the nexus of monetary policy and financial stability : effectiveness of macroprudential tools in building resilience and mitigating financial imbalances
Damar, Evren; Molico, Miguel - 2016
This paper reviews the Canadian and international evidence of the effectiveness of macroprudential policy measures in building resilience and mitigating financial imbalances. The analysis concludes that these measures have broadly achieved their goal of increasing the overall resilience of the...
Persistent link: https://www.econbiz.de/10011477323
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Central Banks and Macroprudential Policy : Some Reflections from the Spanish Experience
Alberola, Enrique - 2011
The view that central banks must play a greater role in preserving financial stability has gained considerable ground in the aftermath of the crisis and macroprudential policy has become a central pillar to deal with financial stability. The policy frame of macroprudential policy, its toolbox...
Persistent link: https://www.econbiz.de/10013121245