On the Effectiveness of Macroprudential Policy
42 Pages Posted: 1 Jun 2021
Date Written: May 1, 2021
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