The interaction between macroprudential and monetary policies: The cases of Norway and Sweden

Arbeitspapier

To shed light on the interaction between macroprudential and monetary policies, we study the inward transmission of foreign monetary policy in conjunction with domestic macroprudential and monetary policies in Norway and Sweden. Using detailed bank-level data we show how Norwegian and Swedish banks' lending reacts to monetary policy surprises arising abroad, controlling for the domestic macroprudential stance and the interaction between monetary and macroprudential policies. In both countries, the domestic macroprudential policy helps mitigate the effects arising after foreign monetary surprises.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Sveriges Riksbank Working Paper Series ; No. 392

Classification and Topics

• Classification: Wirtschaft ; Interest Rates: Determination, Term Structure, and Effects ; Monetary Policy ; Central Banks and Their Policies ; International Lending and Debt Problems ; International Policy Coordination and Transmission ; Banks; Depository Institutions; Micro Finance Institutions; Mortgages ; Financial Institutions and Services: Government Policy and Regulation
• Subject: monetary policy ; macroprudential policy ; policy interactions ; bank lending ; inward transmission ; international bank lending channel

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Cao, Jin ; Dinger, Valeriya ; Grodecka-Messi, Anna ; Juelsrud, Ragnar Enger ; Zhang, Xin
• Event: Veröffentlichung
• (who): Sveriges Riksbank
• (where): Stockholm
• (when): 2020

Further information

• Handle: http://hdl.handle.net/10419/232595
• Last update: 10.03.2025, 11:42 AM CET