New evidence on the effectiveness of macroprudential measures
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T1 - New evidence on the effectiveness of macroprudential measures
AU - Altunbas, Yener
AU - Binici, Mahir
AU - Gambacorta, Leonardo
AU - Murcia, Andres
PY - 2017/12/5
Y1 - 2017/12/5
N2 - The main objective of macroprudential tools is to reduce systemic risks – in particular, the frequency and depth of financial crises. Most studies look at the impact of macroprudential measures on credit growth, focusing on country-wide data or bank-level information. This column presents new evidence using credit registry data at the bank-firm level to evaluate the impact on bank risk measures. Results show that macroprudential tools help stabilise credit cycles and contain bank risk.
AB - The main objective of macroprudential tools is to reduce systemic risks – in particular, the frequency and depth of financial crises. Most studies look at the impact of macroprudential measures on credit growth, focusing on country-wide data or bank-level information. This column presents new evidence using credit registry data at the bank-firm level to evaluate the impact on bank risk measures. Results show that macroprudential tools help stabilise credit cycles and contain bank risk.
M3 - Web publication/site
PB - VOXEU.org
ER -