| Description |
1 online resource (47 pages) : color illustrations |
| Series |
IMF working paper ; WP/16/94 |
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IMF working paper ; WP/16/94.
|
| Summary |
Macroprudential policy is increasingly being implemented worldwide. Its effectiveness in influencing bank credit and its substitution effects beyond banking have been a key subject of discussion. Our empirical analysis confirms the expected effects of macroprudential policies on bank credit, both for advanced economies and emerging market economies. Yet we also find evidence of substitution effects towards nonbank credit, especially in advanced economies, reducing the policies' effect on total credit. Quantity restrictions are particularly potent in constraining bank credit but also cause the strongest substitution effects. Policy implications indicate a need to extend macroprudential policy beyond banking, especially in advanced economies. Abstract |
| Notes |
"Prepared by Janko Cizel, Jon Frost, Aerdt Houben, and Peter Wierts--page 2." |
|
"April 2016." |
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"Monetary and Capital Markets Department." |
| Bibliography |
Includes bibliographical references (pages 23-26) |
| Notes |
Description based on online resource; title from pdf title page (IMF.org Web site, viewed May 23, 2016) |
| Subject |
Financial risk management.
|
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Bank loans.
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Banks and banking -- Risk management
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Financial institutions.
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financial institutions (institutions)
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Bank loans
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Financial institutions
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Financial risk management
|
| Form |
Electronic book
|
| Author |
Cizel, Janko, author
|
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Frost, Jon, author
|
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Houben, Aerdt C. F. J., author
|
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Wierts, Peter J., author
|
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International Monetary Fund. Monetary and Capital Markets Department, publisher.
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| ISBN |
1484337735 |
|
9781484337738 |
| ISSN |
1018-5941 |
|
