|
|
|
|
| LEADER |
01977nma a2200241 u 4500 |
| 001 |
EB002074505 |
| 003 |
EBX01000000000000001214595 |
| 005 |
00000000000000.0 |
| 007 |
cr||||||||||||||||||||| |
| 008 |
220928 ||| eng |
| 100 |
1 |
|
|a Lepers, Etienne
|
| 245 |
0 |
0 |
|a The broad policy toolkit for financial stability
|h Elektronische Ressource
|b Foundations, fences, and fire doors
|c Etienne, Lepers and Caroline, Mehigan
|
| 260 |
|
|
|a Paris
|b OECD Publishing
|c 2019
|
| 300 |
|
|
|a 41 p
|
| 653 |
|
|
|a Finance and Investment
|
| 700 |
1 |
|
|a Mehigan, Caroline
|
| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
|
| 989 |
|
|
|b OECD
|a OECD Books and Papers
|
| 490 |
0 |
|
|a OECD Working Papers on International Investment
|
| 024 |
8 |
|
|a /10.1787/9188f06a-en
|
| 856 |
4 |
0 |
|a oecd-ilibrary.org
|u https://doi.org/10.1787/9188f06a-en
|x Verlag
|3 Volltext
|
| 082 |
0 |
|
|a 330
|
| 520 |
|
|
|a The post financial crisis period has been associated with increased countercyclical use of various financial policies, including residency-based measures. This paper analyses in a single analytical framework the relative effectiveness of three types of financial policies - macroprudential (foundations), currency-based (fences), and residency-based measures (fire doors). The findings in this paper are based on a granular quarterly database of adjustments in these policies that covers both advanced and emerging economies from 2000 to 2015. The results show that residency-based measures on bonds and credit reduce capital inflows but provide limited support for a credit-mitigation role. While no evidence emerges that macroprudential measures alter capital inflows, most appear effective in reducing credit growth. Currency-based measures may reduce both inflows and credit growth (particularly FX reserve requirements and FX lending regulations). These results indicate that the impact of policies needs to be analysed at a granular level and that policy makers should adopt an integrated view of the financial policy toolkit
|