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  • 1
    Online Resource
    Online Resource
    Leakages from Macroprudential Regulations: The Case of Household-Specific Tools and Corporate Credit. (2021)
    Washington, D.C. :International Monetary Fund,
    Details
    UID:
    edoccha_9960178600002883
    Format: 1 online resource (35 pages)
    ISBN: 1-5135-8862-1
    Series Statement: IMF Working Papers
    Content: Sector-specific macroprudential regulations increase the riskiness of credit to other sectors. Using firm-level data, this paper computed the measures of the riskiness of corporate credit allocation for 29 advanced and emerging economies. Consistently across these measures, the paper finds that during credit expansions, an unexpected tightening of household-specific macroprudential tools is followed by a rise in riskier corporate lending. Quantitatively, such unexpected tightening during a period of rapid credit growth increases the riskiness of corporate credit by around 10 percent of the historical standard deviation. This result supports early policy interventions when credit vulnerabilities are still low, since sectoral leakages will be less important at this stage. Further evidence from bank lending standards surveys suggests that the leakage effects are stronger for larger firms compared to SMEs, consistent with recent evidence on the use of personal real estate as loan collateral by small firms.
    Additional Edition: ISBN 1-5135-7373-X
    Language: English
    DOI: 10.5089/9781513573731.001
    Library Location Call Number Volume/Issue/Year Availability
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    Online Resource
    Open Access Request
    Charité
  • 2
    Online Resource
    Online Resource
    Leakages from Macroprudential Regulations: The Case of Household-Specific Tools and Corporate Credit. (2021)
    Washington, D.C. :International Monetary Fund,
    Details
    UID:
    edocfu_9960178600002883
    Format: 1 online resource (35 pages)
    ISBN: 1-5135-8862-1
    Series Statement: IMF Working Papers
    Content: Sector-specific macroprudential regulations increase the riskiness of credit to other sectors. Using firm-level data, this paper computed the measures of the riskiness of corporate credit allocation for 29 advanced and emerging economies. Consistently across these measures, the paper finds that during credit expansions, an unexpected tightening of household-specific macroprudential tools is followed by a rise in riskier corporate lending. Quantitatively, such unexpected tightening during a period of rapid credit growth increases the riskiness of corporate credit by around 10 percent of the historical standard deviation. This result supports early policy interventions when credit vulnerabilities are still low, since sectoral leakages will be less important at this stage. Further evidence from bank lending standards surveys suggests that the leakage effects are stronger for larger firms compared to SMEs, consistent with recent evidence on the use of personal real estate as loan collateral by small firms.
    Additional Edition: ISBN 1-5135-7373-X
    Language: English
    DOI: 10.5089/9781513573731.001
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Open Access Request
    FU Berlin
  • 3
    Online Resource
    Online Resource
    Capital Controls in Times of Crisis – Do They Work? / (2023)
    Washington, D.C. :International Monetary Fund,
    Details
    UID:
    edoccha_9961112705202883
    Format: 1 online resource (37 pages)
    ISBN: 979-84-00-23937-3
    Series Statement: IMF Working Papers
    Content: This paper provides an analysis of the use and effects of capital controls in 27 AEs and EMDEs which experienced at least one financial crisis between 1995 and 2017. Countries often turn to using capital controls in crisis: some ease inflow controls while others tighten controls on outflows. A key finding is that countries with pervasive controls before the start of the crisis are shielded compared to countries with more open capital accounts, which see a significant decline in capital flows during crises. In contrast, the effectiveness of capital controls introduced during crises appears to be weak and difficult to identify. There is also some evidence that the introduction of outflow controls during crises is negatively associated with sovereign debt ratings, but that investors may actually forgive with time.
    Additional Edition: ISBN 979-84-00-23623-5
    Language: English
    Library Location Call Number Volume/Issue/Year Availability
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    Online Resource
    Charité
  • 4
    Online Resource
    Online Resource
    Do Capital Controls Limit Inflow Surges? / (2023)
    Washington, D.C. :International Monetary Fund,
    Details
    UID:
    edocfu_9961112701402883
    Format: 1 online resource (40 pages)
    ISBN: 979-84-00-24232-8
    Series Statement: IMF Working Papers
    Content: With rising financial integration, the magnitude and swings in capital flows have increased in the past two decades, intensifying the policy debate on how best to deal with these flows. This paper assesses the use and effectiveness of capital controls in limiting inflow surges. Using a novel dataset on capital control changes across 40 advanced and emerging market and developing economies over 1995-2018, we find that the tightening of capital controls reduces the probability of future surges both at the aggregate and the asset flow levels. The results are robust to various definitions of surges and are stronger when controls are matched to the asset class they target. Finally, we also find significant multilateral spillovers from capital control actions, pointing towards the need for international cooperation in the use of these policies.
    Additional Edition: ISBN 979-84-00-23509-2
    Language: English
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    FU Berlin
  • 5
    Online Resource
    Online Resource
    Do Capital Controls Limit Inflow Surges? / (2023)
    Washington, D.C. :International Monetary Fund,
    Details
    UID:
    edoccha_9961112701402883
    Format: 1 online resource (40 pages)
    ISBN: 979-84-00-24232-8
    Series Statement: IMF Working Papers
    Content: With rising financial integration, the magnitude and swings in capital flows have increased in the past two decades, intensifying the policy debate on how best to deal with these flows. This paper assesses the use and effectiveness of capital controls in limiting inflow surges. Using a novel dataset on capital control changes across 40 advanced and emerging market and developing economies over 1995-2018, we find that the tightening of capital controls reduces the probability of future surges both at the aggregate and the asset flow levels. The results are robust to various definitions of surges and are stronger when controls are matched to the asset class they target. Finally, we also find significant multilateral spillovers from capital control actions, pointing towards the need for international cooperation in the use of these policies.
    Additional Edition: ISBN 979-84-00-23509-2
    Language: English
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Charité
  • 6
    Online Resource
    Online Resource
    Capital Controls in Times of Crisis – Do They Work? / (2023)
    Washington, D.C. :International Monetary Fund,
    Details
    UID:
    edocfu_9961112705202883
    Format: 1 online resource (37 pages)
    ISBN: 979-84-00-23937-3
    Series Statement: IMF Working Papers
    Content: This paper provides an analysis of the use and effects of capital controls in 27 AEs and EMDEs which experienced at least one financial crisis between 1995 and 2017. Countries often turn to using capital controls in crisis: some ease inflow controls while others tighten controls on outflows. A key finding is that countries with pervasive controls before the start of the crisis are shielded compared to countries with more open capital accounts, which see a significant decline in capital flows during crises. In contrast, the effectiveness of capital controls introduced during crises appears to be weak and difficult to identify. There is also some evidence that the introduction of outflow controls during crises is negatively associated with sovereign debt ratings, but that investors may actually forgive with time.
    Additional Edition: ISBN 979-84-00-23623-5
    Language: English
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    FU Berlin
  • 7
    Online Resource
    Online Resource
    Some alternative monetary facts (2021)
    [Washington, DC] : International Monetary Fund
    Details
    UID:
    gbv_1751880869
    Format: 1 Online-Ressource (circa 40 Seiten) , Illustrationen
    ISBN: 9781513566429
    Series Statement: IMF working paper WP/21, 6
    Content: In this paper, we discuss the modern history of monetarism and its alternatives, as well as the changing empirical relationship of various measures of money and inflation. After demonstrating that previous naïve correlations between money and inflation as established in the 20th century literature have largely disappeared, we explain why this cannot be taken as support for an increased reliance on permanent monetary finance. Rather, we argue that rapid technological innovation in payments systems-both public and private-including in global pledged collateral markets, portends a declining demand for central bank liabilities
    Additional Edition: Erscheint auch als Druck-Ausgabe Some Alternative Monetary Facts Washington, D.C. : International Monetary Fund, 2021 ISBN 9781513566429
    Language: English
    Keywords: Graue Literatur
    DOI: 10.5089/9781513566429.001
    URL: kostenfrei
    URL: kostenfrei
    URL: kostenfrei
    Author information: Kumar, Manmohan S.
    Library Location Call Number Volume/Issue/Year Availability
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    Online Resource
    Open Access Request
    Stabi Berlin
  • 8
    Online Resource
    Online Resource
    Leakages from macroprudential regulations : the case of household-specific tools and corporate credit (2021)
    [Washington, D.C.] : International Monetary Fund
    Details
    UID:
    gbv_1767737416
    Format: 1 Online-Ressource (circa 35 Seiten) , Illustrationen
    ISBN: 9781513573731
    Series Statement: IMF working paper WP/21, 113
    Content: Sector-specific macroprudential regulations increase the riskiness of credit to other sectors. Using firm-level data, this paper computed the measures of the riskiness of corporate credit allocation for 29 advanced and emerging economies. Consistently across these measures, the paper finds that during credit expansions, an unexpected tightening of household-specific macroprudential tools is followed by a rise in riskier corporate lending. Quantitatively, such unexpected tightening during a period of rapid credit growth increases the riskiness of corporate credit by around 10 percent of the historical standard deviation. This result supports early policy interventions when credit vulnerabilities are still low, since sectoral leakages will be less important at this stage. Further evidence from bank lending standards surveys suggests that the leakage effects are stronger for larger firms compared to SMEs, consistent with recent evidence on the use of personal real estate as loan collateral by small firms
    Additional Edition: Erscheint auch als Druck-Ausgabe Leakages from Macroprudential Regulations: The Case of Household-Specific Tools and Corporate Credit Washington, D.C. : International Monetary Fund, 2021 ISBN 9781513573731
    Language: English
    Keywords: Graue Literatur
    DOI: 10.5089/9781513573731.001
    URL: kostenfrei
    URL: kostenfrei
    URL: kostenfrei
    URL: kostenfrei
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Open Access Request
    Stabi Berlin
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