Effectiveness and Channels of Macroprudential Instruments : Lessons from the Euro Area /

The crisis has highlighted the importance of setting up macro-prudential oversightframeworks, having effective macro-prudential instruments in place to be called upon tomitigate growing financial imbalances as needed. We develop a new approach using the euroarea Bank Lending Survey to assess the eff...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Tressel, Thierry, Zhang, Yuanyan Sophia (Autor)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C.] : International Monetary Fund, [2016]
Colección:IMF working paper ; WP/16/4.
Temas:
Financial risk management > European Union countries > Econometric models.
Bank capital > European Union countries > Econometric models.
Bank loans > European Union countries > Econometric models.
Bank capital > Econometric models.
Bank loans > Econometric models.
European Union countries.
Acceso en línea:Texto completo
Tabla de Contenidos:
  • Cover
  • CONTENTS
  • ABSTRACT
  • I. INTRODUCTION
  • II. LITERATURE
  • III. METHODOLOGY AND DATA
  • A. Data
  • B. Framework
  • C. Methodology
  • IV. EMPIRICAL RESULTS
  • A. The Impact of Shocks to Banks' Balance Sheets on Credit and House Prices
  • B. The Impact of Balance Sheet Factors on Price and Non-Price Lending Standard
  • C. Interactions Between Monetary Policy and LTV Set by the Banking System
  • D. Evidence from Panel VARs
  • V. CONCLUSIONS
  • VI. REFERENCES
  • FIGURES
  • 1. The Eurosystem Bank Lending Survey
  • 2. Cumulative Net Tightening of LTVs since 2003/1
  • 3. Evolution of Price and non-Price Lending Standard, By Country
  • 4. Impulse-Responses of the Panel VAR Analysis
  • TABLES
  • 1. Pairwise Correlation Among Components of Lending Standards and Credit Demand
  • 2. Impact of Balance Sheet Contributions of Lending on Mortgage Loan Growth and on House Price Appreciation
  • 3. Impact of Balance Sheet Factors on Price and non-Price Components of Lending Standards for Mortgage
  • 4. Impact of Balance Sheet Factors on Price and non-Price Components of Lending Standards for Mortgage
  • 5. Lending Standards and Mortgage Loan Growth
  • 6. Lending Standards and House Price Appreciation
  • 7. Interaction Between Monetary Policy and Lending Standards.

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