Macroprudential Policy and Credit Supply

Artikel

In this paper we analyze financial crises, and the interactions of macroprudential policy and credit. Financial crises are recurrent systemic phenomena, often-triggering deep and long-lasting recessions with large reductions in aggregate welfare, output and employment. Importantly for policy, systemic financial crises are typically not random events triggered by exogenous events, but they tend to occur after periods of rapid, strong credit growth. Moreover, a credit crunch tends to follow in a financial crisis with negative aggregate real effects. Macroprudential policy softens the credit supply cycles, with important positive effects on the aggregate real economy in crisis times.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Swiss Journal of Economics and Statistics ; ISSN: 2235-6282 ; Volume: 152 ; Year: 2016 ; Issue: 4 ; Pages: 305-318 ; Heidelberg: Springer

Classification and Topics

• Classification: Wirtschaft ; Central Banks and Their Policies ; Financial Crises ; Banks; Depository Institutions; Micro Finance Institutions; Mortgages ; Financial Institutions and Services: Government Policy and Regulation
• Subject: financial crises ; macroprudential policy ; credit supply ; risk-taking ; capital ; liquidity

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Peydró, José-Luis
• Event: Veröffentlichung
• (who): Springer
• (where): Heidelberg
• (when): 2016

Further information

• DOI: doi:10.1007/BF03399430
• Handle: http://hdl.handle.net/10419/186064
• Last update: 10.03.2025, 11:41 AM CET