Evaluating the Net Benefits of Macroprudential Policy : A Cookbook /

The paper proposes a simple, new, analytical framework for assessing the cost and benefits of macroprudential policies. It proposes a measure of net benefits in terms of parameters that can be estimated: the probability of crisis, the loss in output given crisis, policy effectiveness in bringing dow...

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Detalles Bibliográficos
Autor principal: Arregui, Nicolas
Otros Autores: Benes, Jaromir, Krznar, Ivo, Mitra, Srobona
Formato: Revista
Lenguaje:English
Publicado: Washington, D.C. : International Monetary Fund, 2013.
Colección:IMF Working Papers; Working Paper ; No. 2013/167
Acceso en línea:Full text available on IMF
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100 1 |a Arregui, Nicolas. 
245 1 0 |a Evaluating the Net Benefits of Macroprudential Policy :   |b A Cookbook /  |c Nicolas Arregui, Jaromir Benes, Ivo Krznar, Srobona Mitra. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2013. 
300 |a 1 online resource (73 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a The paper proposes a simple, new, analytical framework for assessing the cost and benefits of macroprudential policies. It proposes a measure of net benefits in terms of parameters that can be estimated: the probability of crisis, the loss in output given crisis, policy effectiveness in bringing down both the probability and damage during crisis, and the output-cost of a policy decision. It discusses three types of policy leakages and identifies instruments that could best minimize the leakages. Some rules of thumb for policymakers are provided. 
538 |a Mode of access: Internet 
700 1 |a Benes, Jaromir. 
700 1 |a Krznar, Ivo. 
700 1 |a Mitra, Srobona. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2013/167 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2013/167/001.2013.issue-167-en.xml  |z IMF e-Library