| Description |
1 online resource (48 p.) |
| Series |
IMF Working Papers |
|
IMF Working Papers; Working Paper ; No. 20/67
|
| Summary |
This paper builds a novel database on the effects of macroprudential policy drawing from 58 empirical studies, comprising over 6,000 results on a wide range of instruments and outcome variables. It encompasses information on statistical significance, standardized magnitudes, and other characteristics of the estimates. Using meta-analysis techniques, the paper estimates average effects to find i) statistically significant effects on credit, but with considerable heterogeneity across instruments; ii) weaker and more imprecise effects on house prices; iii) quantitatively stronger effects in emerging markets and among studies using micro-level data; and iii) statistically significant evidence of leakages and spillovers. Other findings include relatively stronger impacts for tightening than loosening actions and negative effects on economic activity in the near term |
| Notes |
Description based on print version record |
| Subject |
Financial Stability.
|
|
General.
|
|
Government Policy And Regulation.
|
|
Macroprudential Policy.
|
|
Meta-Analysis.
|
| Form |
Electronic book
|
| ISBN |
151354540X |
|
9781513545400 |
| ISSN |
1018-5941 |
|
