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220928 ||| eng |
020 |
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|a 9781513545400
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100 |
1 |
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|a Araujo, Juliana
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245 |
0 |
0 |
|a Effects of Macroprudential Policy: Evidence from Over 6,000 Estimates
|c Juliana Araujo, Manasa Patnam, Adina Popescu, Fabian Valencia, Weijia Yao
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260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2020
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300 |
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|a 48 pages
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651 |
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4 |
|a Greenland
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653 |
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|a Economic policy
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653 |
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|a Depository Institutions
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653 |
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|a Consumer credit
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653 |
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|a Credit
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653 |
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|a Real Estate
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653 |
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|a Banks
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653 |
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|a Financial sector policy and analysis
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653 |
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|a Monetary economics
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653 |
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|a Housing Supply and Markets
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653 |
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|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
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653 |
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|a Micro Finance Institutions
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653 |
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|a Financial Aspects of Economic Integration
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653 |
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|a Housing; Prices
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653 |
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|a Mortgages
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653 |
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|a Money
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653 |
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|a Property & real estate
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653 |
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|a Financial Markets and the Macroeconomy
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653 |
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|a Prices
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653 |
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|a Macroeconomics
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653 |
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|a Macroprudential policy
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653 |
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|a Money and Monetary Policy
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653 |
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|a Macroprudential policy instruments
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653 |
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|a Housing prices
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700 |
1 |
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|a Patnam, Manasa
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700 |
1 |
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|a Popescu, Adina
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700 |
1 |
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|a Valencia, Fabian
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041 |
0 |
7 |
|a eng
|2 ISO 639-2
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989 |
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|b IMF
|a International Monetary Fund
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490 |
0 |
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|a IMF Working Papers
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028 |
5 |
0 |
|a 10.5089/9781513545400.001
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856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2020/067/001.2020.issue-067-en.xml?cid=49440-com-dsp-marc
|x Verlag
|3 Volltext
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082 |
0 |
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|a 330
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520 |
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|a 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
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