Effectiveness and Channels of Macroprudential Instruments :: Lessons from the Euro Area /
The crisis has highlighted the importance of setting up macro-prudential oversightframeworks, having effective macro-prudential instruments in place to be called upon tomitigate growing financial imbalances as needed. We develop a new approach using the euroarea Bank Lending Survey to assess the eff...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C.] :
International Monetary Fund,
[2016]
|
| Schriftenreihe: | IMF working paper ;
WP/16/4. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | The crisis has highlighted the importance of setting up macro-prudential oversightframeworks, having effective macro-prudential instruments in place to be called upon tomitigate growing financial imbalances as needed. We develop a new approach using the euroarea Bank Lending Survey to assess the effectiveness of macro-prudential policies incontaining credit growth and house price appreciation in mortgage markets. We findinstruments targeting the cost of bank capital most effective in slowing down mortgage creditgrowth, and that the impact is transmitted mainly through price margins, the same b. |
| Beschreibung: | 1 online resource (32 pages) |
| Bibliographie: | Includes bibliographical references (pages 30-32). |
| ISBN: | 1513564374 149836036X 9781498360364 9781513564371 1513547402 9781513547404 |
| ISSN: | 2227-8885 ; |
Internformat
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| 245 | 1 | 0 | |a Effectiveness and Channels of Macroprudential Instruments : |b Lessons from the Euro Area / |c By Thierry Tressel and Yuanyan Sophia Zhang. |
| 264 | 1 | |a [Washington, D.C.] : |b International Monetary Fund, |c [2016] | |
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| 504 | |a Includes bibliographical references (pages 30-32). | ||
| 520 | |a The crisis has highlighted the importance of setting up macro-prudential oversightframeworks, having effective macro-prudential instruments in place to be called upon tomitigate growing financial imbalances as needed. We develop a new approach using the euroarea Bank Lending Survey to assess the effectiveness of macro-prudential policies incontaining credit growth and house price appreciation in mortgage markets. We findinstruments targeting the cost of bank capital most effective in slowing down mortgage creditgrowth, and that the impact is transmitted mainly through price margins, the same b. | ||
| 505 | 0 | |a Cover -- CONTENTS -- ABSTRACT -- I. INTRODUCTION -- II. LITERATURE -- III. METHODOLOGY AND DATA -- A. Data -- B. Framework -- C. Methodology -- IV. EMPIRICAL RESULTS -- A. The Impact of Shocks to Banks' Balance Sheets on Credit and House Prices -- B. The Impact of Balance Sheet Factors on Price and Non-Price Lending Standard -- C. Interactions Between Monetary Policy and LTV Set by the Banking System -- D. Evidence from Panel VARs -- V. CONCLUSIONS -- VI. REFERENCES -- FIGURES -- 1. The Eurosystem Bank Lending Survey -- 2. Cumulative Net Tightening of LTVs since 2003/1 -- 3. Evolution of Price and non-Price Lending Standard, By Country -- 4. Impulse-Responses of the Panel VAR Analysis -- TABLES -- 1. Pairwise Correlation Among Components of Lending Standards and Credit Demand -- 2. Impact of Balance Sheet Contributions of Lending on Mortgage Loan Growth and on House Price Appreciation -- 3. Impact of Balance Sheet Factors on Price and non-Price Components of Lending Standards for Mortgage -- 4. Impact of Balance Sheet Factors on Price and non-Price Components of Lending Standards for Mortgage -- 5. Lending Standards and Mortgage Loan Growth -- 6. Lending Standards and House Price Appreciation -- 7. Interaction Between Monetary Policy and Lending Standards. | |
| 650 | 0 | |a Financial risk management |z European Union countries |x Econometric models. | |
| 650 | 0 | |a Bank capital |z European Union countries |x Econometric models. | |
| 650 | 0 | |a Bank loans |z European Union countries |x Econometric models. | |
| 650 | 6 | |a Finances |x Gestion du risque |z Pays de l'Union européenne |x Modèles économétriques. | |
| 650 | 6 | |a Banques |x Capital |z Pays de l'Union européenne |x Modèles économétriques. | |
| 650 | 6 | |a Prêts bancaires |z Pays de l'Union européenne |x Modèles économétriques. | |
| 650 | 7 | |a Bank capital |x Econometric models |2 fast | |
| 650 | 7 | |a Bank loans |x Econometric models |2 fast | |
| 651 | 7 | |a European Union countries |2 fast | |
| 700 | 1 | |a Zhang, Yuanyan Sophia, |e author. |0 http://id.loc.gov/authorities/names/no2011119217 | |
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| author | Tressel, Thierry Zhang, Yuanyan Sophia |
| author_GND | http://id.loc.gov/authorities/names/nr2001031493 http://id.loc.gov/authorities/names/no2011119217 |
| author_facet | Tressel, Thierry Zhang, Yuanyan Sophia |
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| callnumber-subject | HG - Finance |
| collection | ZDB-4-EBA |
| contents | Cover -- CONTENTS -- ABSTRACT -- I. INTRODUCTION -- II. LITERATURE -- III. METHODOLOGY AND DATA -- A. Data -- B. Framework -- C. Methodology -- IV. EMPIRICAL RESULTS -- A. The Impact of Shocks to Banks' Balance Sheets on Credit and House Prices -- B. The Impact of Balance Sheet Factors on Price and Non-Price Lending Standard -- C. Interactions Between Monetary Policy and LTV Set by the Banking System -- D. Evidence from Panel VARs -- V. CONCLUSIONS -- VI. REFERENCES -- FIGURES -- 1. The Eurosystem Bank Lending Survey -- 2. Cumulative Net Tightening of LTVs since 2003/1 -- 3. Evolution of Price and non-Price Lending Standard, By Country -- 4. Impulse-Responses of the Panel VAR Analysis -- TABLES -- 1. Pairwise Correlation Among Components of Lending Standards and Credit Demand -- 2. Impact of Balance Sheet Contributions of Lending on Mortgage Loan Growth and on House Price Appreciation -- 3. Impact of Balance Sheet Factors on Price and non-Price Components of Lending Standards for Mortgage -- 4. Impact of Balance Sheet Factors on Price and non-Price Components of Lending Standards for Mortgage -- 5. Lending Standards and Mortgage Loan Growth -- 6. Lending Standards and House Price Appreciation -- 7. Interaction Between Monetary Policy and Lending Standards. |
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| discipline | Wirtschaftswissenschaften |
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| id | ZDB-4-EBA-ocn941068840 |
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| indexdate | 2024-11-27T13:27:04Z |
| institution | BVB |
| isbn | 1513564374 149836036X 9781498360364 9781513564371 1513547402 9781513547404 |
| issn | 2227-8885 ; |
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| series2 | IMF working paper |
| spelling | Tressel, Thierry. http://id.loc.gov/authorities/names/nr2001031493 Effectiveness and Channels of Macroprudential Instruments : Lessons from the Euro Area / By Thierry Tressel and Yuanyan Sophia Zhang. [Washington, D.C.] : International Monetary Fund, [2016] 1 online resource (32 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier IMF working paper 2227-8885 ; WP/16/4 Print version record. Includes bibliographical references (pages 30-32). The crisis has highlighted the importance of setting up macro-prudential oversightframeworks, having effective macro-prudential instruments in place to be called upon tomitigate growing financial imbalances as needed. We develop a new approach using the euroarea Bank Lending Survey to assess the effectiveness of macro-prudential policies incontaining credit growth and house price appreciation in mortgage markets. We findinstruments targeting the cost of bank capital most effective in slowing down mortgage creditgrowth, and that the impact is transmitted mainly through price margins, the same b. Cover -- CONTENTS -- ABSTRACT -- I. INTRODUCTION -- II. LITERATURE -- III. METHODOLOGY AND DATA -- A. Data -- B. Framework -- C. Methodology -- IV. EMPIRICAL RESULTS -- A. The Impact of Shocks to Banks' Balance Sheets on Credit and House Prices -- B. The Impact of Balance Sheet Factors on Price and Non-Price Lending Standard -- C. Interactions Between Monetary Policy and LTV Set by the Banking System -- D. Evidence from Panel VARs -- V. CONCLUSIONS -- VI. REFERENCES -- FIGURES -- 1. The Eurosystem Bank Lending Survey -- 2. Cumulative Net Tightening of LTVs since 2003/1 -- 3. Evolution of Price and non-Price Lending Standard, By Country -- 4. Impulse-Responses of the Panel VAR Analysis -- TABLES -- 1. Pairwise Correlation Among Components of Lending Standards and Credit Demand -- 2. Impact of Balance Sheet Contributions of Lending on Mortgage Loan Growth and on House Price Appreciation -- 3. Impact of Balance Sheet Factors on Price and non-Price Components of Lending Standards for Mortgage -- 4. Impact of Balance Sheet Factors on Price and non-Price Components of Lending Standards for Mortgage -- 5. Lending Standards and Mortgage Loan Growth -- 6. Lending Standards and House Price Appreciation -- 7. Interaction Between Monetary Policy and Lending Standards. Financial risk management European Union countries Econometric models. Bank capital European Union countries Econometric models. Bank loans European Union countries Econometric models. Finances Gestion du risque Pays de l'Union européenne Modèles économétriques. Banques Capital Pays de l'Union européenne Modèles économétriques. Prêts bancaires Pays de l'Union européenne Modèles économétriques. Bank capital Econometric models fast Bank loans Econometric models fast European Union countries fast Zhang, Yuanyan Sophia, author. http://id.loc.gov/authorities/names/no2011119217 has work: Effectiveness and channels of macroprudential instruments (Text) https://id.oclc.org/worldcat/entity/E39PCG7w7Fyc9RQqyyP4c3QMdP https://id.oclc.org/worldcat/ontology/hasWork Print version: 1513547402 IMF working paper ; WP/16/4. 2227-8885 http://id.loc.gov/authorities/names/no89010263 FWS01 ZDB-4-EBA FWS_PDA_EBA https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1254356 Volltext |
| spellingShingle | Tressel, Thierry Zhang, Yuanyan Sophia Effectiveness and Channels of Macroprudential Instruments : Lessons from the Euro Area / IMF working paper ; Cover -- CONTENTS -- ABSTRACT -- I. INTRODUCTION -- II. LITERATURE -- III. METHODOLOGY AND DATA -- A. Data -- B. Framework -- C. Methodology -- IV. EMPIRICAL RESULTS -- A. The Impact of Shocks to Banks' Balance Sheets on Credit and House Prices -- B. The Impact of Balance Sheet Factors on Price and Non-Price Lending Standard -- C. Interactions Between Monetary Policy and LTV Set by the Banking System -- D. Evidence from Panel VARs -- V. CONCLUSIONS -- VI. REFERENCES -- FIGURES -- 1. The Eurosystem Bank Lending Survey -- 2. Cumulative Net Tightening of LTVs since 2003/1 -- 3. Evolution of Price and non-Price Lending Standard, By Country -- 4. Impulse-Responses of the Panel VAR Analysis -- TABLES -- 1. Pairwise Correlation Among Components of Lending Standards and Credit Demand -- 2. Impact of Balance Sheet Contributions of Lending on Mortgage Loan Growth and on House Price Appreciation -- 3. Impact of Balance Sheet Factors on Price and non-Price Components of Lending Standards for Mortgage -- 4. Impact of Balance Sheet Factors on Price and non-Price Components of Lending Standards for Mortgage -- 5. Lending Standards and Mortgage Loan Growth -- 6. Lending Standards and House Price Appreciation -- 7. Interaction Between Monetary Policy and Lending Standards. Financial risk management European Union countries Econometric models. Bank capital European Union countries Econometric models. Bank loans European Union countries Econometric models. Finances Gestion du risque Pays de l'Union européenne Modèles économétriques. Banques Capital Pays de l'Union européenne Modèles économétriques. Prêts bancaires Pays de l'Union européenne Modèles économétriques. Bank capital Econometric models fast Bank loans Econometric models fast |
| title | Effectiveness and Channels of Macroprudential Instruments : Lessons from the Euro Area / |
| title_auth | Effectiveness and Channels of Macroprudential Instruments : Lessons from the Euro Area / |
| title_exact_search | Effectiveness and Channels of Macroprudential Instruments : Lessons from the Euro Area / |
| title_full | Effectiveness and Channels of Macroprudential Instruments : Lessons from the Euro Area / By Thierry Tressel and Yuanyan Sophia Zhang. |
| title_fullStr | Effectiveness and Channels of Macroprudential Instruments : Lessons from the Euro Area / By Thierry Tressel and Yuanyan Sophia Zhang. |
| title_full_unstemmed | Effectiveness and Channels of Macroprudential Instruments : Lessons from the Euro Area / By Thierry Tressel and Yuanyan Sophia Zhang. |
| title_short | Effectiveness and Channels of Macroprudential Instruments : |
| title_sort | effectiveness and channels of macroprudential instruments lessons from the euro area |
| title_sub | Lessons from the Euro Area / |
| topic | Financial risk management European Union countries Econometric models. Bank capital European Union countries Econometric models. Bank loans European Union countries Econometric models. Finances Gestion du risque Pays de l'Union européenne Modèles économétriques. Banques Capital Pays de l'Union européenne Modèles économétriques. Prêts bancaires Pays de l'Union européenne Modèles économétriques. Bank capital Econometric models fast Bank loans Econometric models fast |
| topic_facet | Financial risk management European Union countries Econometric models. Bank capital European Union countries Econometric models. Bank loans European Union countries Econometric models. Finances Gestion du risque Pays de l'Union européenne Modèles économétriques. Banques Capital Pays de l'Union européenne Modèles économétriques. Prêts bancaires Pays de l'Union européenne Modèles économétriques. Bank capital Econometric models Bank loans Econometric models European Union countries |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1254356 |
| work_keys_str_mv | AT tresselthierry effectivenessandchannelsofmacroprudentialinstrumentslessonsfromtheeuroarea AT zhangyuanyansophia effectivenessandchannelsofmacroprudentialinstrumentslessonsfromtheeuroarea |