| Description |
1 online resource (40 pages) |
| Series |
IMF Working Papers, 2227-8885 ; Working Paper No. 13/166 |
|
IMF Working Papers ; Working Paper no. 13/166
|
| Contents |
Cover; Contents; Abstract; I. Introduction; II. Measuring Institutional Arrangements; III. Measuring Response Time; IV. Response Time and Institutional Indices; V. Response Time In A Multivariate Analysis; VI. Conclusion; TABLES; 1. Institutional Arrangement Indices; 2. Response Time and Institutional Arrangements; 3. Response Time and Dummy Variables; 4. Institutional Arrangement Indices; FIGURES; 1. Break-in-Trend Analysis; 2. Distance-from Peak/Trough Analysis; 3. Threshold Analysis; 4. Calculated Response Time; 5. Response Time for Credit in Different Institutional Arrangements; APPENDIX |
| Summary |
This paper gauges if, and how, institutional arrangements are correlated with the use of macroprudential policy instruments. Using data from 39 countries, the paper evaluates policy response time in various types of institutional arrangements for macroprudential policy and finds that the macroprudential framework that gives the central bank an important role is associated with more timely use of macroprudential policy instruments. Policymakers may also tend to use macroprudential instruments more quickly if the ability to conduct monetary policy is somehow constrained. This finding points to the importance of coordination between macroprudential and monetary policy |
| Notes |
Available in PDF, ePUB, and Mobi formats on the Internet |
| Bibliography |
Includes bibliographical references |
| Subject |
Monetary policy -- Econometric models
|
|
Macroeconomics.
|
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Macroeconomics
|
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Monetary policy -- Econometric models
|
| Form |
Electronic book
|
| Author |
Wu, Xiaoyong
|
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Lim, Cheng Hoon
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Krznar, Ivo
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Lipinsky, Fabian
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Otani, Akira
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International Monetary Fund.
|
| ISBN |
1484349040 |
|
9781484349045 |
|
9781484377819 |
|
1484377818 |
|
