Download This PaperOn the Effectiveness of Macroprudential Policy
42 Pages Posted: 1 Jun 2021
Date Written: May 1, 2021
Abstract
Since the global financial crises, many countries have implemented macroprudential policies with the aim to render the financial system more resilient to shocks and limit the procyclicality of the financial system. We present theoretical and empirical evidence on the effectiveness of macroprudential policy, on both, financial stability and economic growth focussing on capital measures and borrower-based measures.
JEL Classification: G21
Suggested Citation: Suggested Citation
Ampudia, Miguel and Lo Duca, Marco and Farkas, Mátyás and Perez-Quiros, Gabriel and Rünstler, Gerhard and Tereanu, Eugen, On the Effectiveness of Macroprudential Policy (May 1, 2021). ECB Working Paper No. 2021/2559, Available at SSRN: https://ssrn.com/abstract=3855931 or http://dx.doi.org/10.2139/ssrn.3855931
Miguel Ampudia (Contact Author)
European Central Bank (ECB) - Directorate General Research ( email )
Kaiserstrasse 29
D-60311 Frankfurt am Main
Germany
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