Arregui, Nicolas
[Verfasser:in]
;
Beneš, Jaromír
[Sonstige Person, Familie und Körperschaft];
Krznar, Ivo
[Sonstige Person, Familie und Körperschaft];
Mitra, Srobona
[Sonstige Person, Familie und Körperschaft]
Evaluating the Net Benefits of Macroprudential Policy
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 2013 erstellt
Beschreibung:
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