Arbeitspapier
Effects of monetary and macro-prudential policies – evidence from inflation targeting economies in the Asia-Pacific region and potential implications for China
We examine the effects of monetary and macroprudential policies in the Asia-Pacific region, where many inflation targeting economies have adopted macroprudential policies in order to safeguard financial stability. Using structural panel vector autoregressions that identify both monetary and macro-prudential policy actions, we show that tighter macroprudential policies used to contain credit growth have also had a significant negative impact on macroeconomic aggregates such as real GDP and the price level. The similar effects of monetary and macroprudential policies may suggest a complementary use of the two policies at normal times. However, they could also create challenges for policy-makers, especially during times when low inflation coincides with buoyant credit growth.
- ISBN
-
978-952-323-155-9
- Sprache
-
Englisch
- Erschienen in
-
Series: BOFIT Discussion Papers ; No. 4/2017
- Klassifikation
-
Wirtschaft
Central Banks and Their Policies
Policy Objectives; Policy Designs and Consistency; Policy Coordination
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Kim, Soyoung
Mehrotra, Aaron
- Ereignis
-
Veröffentlichung
- (wer)
-
Bank of Finland, Institute for Economies in Transition (BOFIT)
- (wo)
-
Helsinki
- (wann)
-
2017
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Kim, Soyoung
- Mehrotra, Aaron
- Bank of Finland, Institute for Economies in Transition (BOFIT)
Entstanden
- 2017
Ähnliche Objekte (12)
Allocating macro-prudential powers
Macro-Prudential Policy: An Assessment
Financial Crises and Macro-Prudential Policies
Financial Innovation: Macro-economic and Macro-prudential Consequences
Financial Innovation: Macro-economic and Macro-prudential Consequences
Central Bank involvement in macro-prudential oversight
Rollover risk, liquidity, and macro-prudential regulation
Macro-prudential policies and financial cycle in Iran
Macro-prudential policies, moral hazard and financial fragility
The risk management approach to macro-prudential policy
Analysing banking sector conditions : how to use macro-prudential indicators
Benefits of macro-prudential policy in low interest rate environments
Allocating macro-prudential powers
Macro-Prudential Policy: An Assessment
Financial Crises and Macro-Prudential Policies
Financial Innovation: Macro-economic and Macro-prudential Consequences
Financial Innovation: Macro-economic and Macro-prudential Consequences
Central Bank involvement in macro-prudential oversight
Rollover risk, liquidity, and macro-prudential regulation
Macro-prudential policies and financial cycle in Iran
Macro-prudential policies, moral hazard and financial fragility
The risk management approach to macro-prudential policy
Analysing banking sector conditions : how to use macro-prudential indicators
Benefits of macro-prudential policy in low interest rate environments
Allocating macro-prudential powers
Macro-Prudential Policy: An Assessment
Financial Crises and Macro-Prudential Policies
Financial Innovation: Macro-economic and Macro-prudential Consequences
Financial Innovation: Macro-economic and Macro-prudential Consequences
Central Bank involvement in macro-prudential oversight
Rollover risk, liquidity, and macro-prudential regulation
Macro-prudential policies and financial cycle in Iran
Macro-prudential policies, moral hazard and financial fragility
The risk management approach to macro-prudential policy
Analysing banking sector conditions : how to use macro-prudential indicators