This working paper was written by Soyoung Kim (Seoul National University), Seri Shim (Bank of Korea) and Hongyi Chen (Hong Kong Institute for Monetary and Financial Research).This paper investigates the effects and conduct of macroprudential policies in China in comparison with those of monetary...

Estimating heterogeneous panel VAR models, this paper empirically investigates how effective macroprudential policy is in curbing mortgage loans and house prices. The sign restriction approach is used to identify two fundamental policy shocks - monetary policy and macroprudential policy shocks....

This study investigates whether and how financial technologies (FinTech) influence the effectiveness of monetary policy transmission. We use an interacted panel vector autoregression model to explore how the effects of monetary policy shocks change with regional-level FinTech adoption. Results...

Korean Abstract: 본 연구는 중국 사례를 통해 핀테크 서비스 이용 확대가 통화정책의 파급효과에 미치는 영향을 실증적으로 분석하였다. 중국의 통화정책 충격에 따른 성(省)별(province level) 경제변수들의 반응이 핀테크 이용량에...

This study investigates whether and how financial technologies (FinTech) influence the effectiveness of monetary policy transmission. We use an interacted panel vector autoregression model to explore how the effects of monetary policy shocks change with regional-level FinTech adoption. Results...

We investigate U.S. monetary and fiscal policy interactions in a regime-switching model of monetary and fiscal policy rules where policy mixes are determined by a latent bivariate autoregressive process consisting of monetary and fiscal policy regime factors, each determining a respective policy...