UID:
edoccha_9958108235402883
Format:
1 online resource (44 p.)
ISBN:
1-4983-5888-8
,
1-4843-7317-0
Series Statement:
IMF Working Papers
Content:
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 advanced countries use borrower-based policies more. Usage is generally associated with lower growth in credit, notably in household credit. Effects are less in financially more developed and open economies, however, and usage comes with greater cross-border borrowing, suggesting some avoidance. And while macroprudential policies can help manage financial cycles, they work less well in busts.
Note:
Description based upon print version of record.
,
Cover; Contents; I. Introduction; II. Data; III. Empirical Analysis; A. Main Regression Results; B. Extensions and Robustness; IV. Conclusions; Tables:; 1. Variables Definitions and Sources; 1b. Regression Variables; 1c. Country Subgroup Classification; 2. Macroprudential Policy Variables; 3. Descriptive Statistics of Main Regression Variables; 4. Macroprudential Policies and Credit Growth: Main Regression Results; 5. Effects of Instrument by Subgroups; 6. Effects of Individual Instruments on Several Variables; 7. Effects on Cross-Border Credit Ratio
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8. Interactions with Country Control Variables9. Interactions with the Financial Cycle; Figures:; 1. The Macroprudential Policy Index by Income Level; 2. The Relative use of Macroprudential Policies over Time, by Income Group; Annex:; 1. Macro-Prudential Dataset
Additional Edition:
ISBN 1-4983-2105-4
Language:
English
