Review of Bank of Russia – NES Workshop ‘Identification and Measurement of Macroprudential Policies Effects’
Russian Journal of Money and Finance, 2021, vol. 80, issue 3, 94–104
In the first week of June 2021, the Bank of Russia and the New Economic School hosted a joint international online workshop titled ‘Identification and Measurement of Macroprudential Policies Effects’. Participants’ presentations suggest that macroprudential policy measures against high-risk lending produce their intended effects, but also, as a rule, bring about side effects. These effects may include a reduction in low-risk loan disbursements, if such measures are disincentivising in nature (as in Russia), or, vice versa, significant growth in the portfolio of low-risk loans, if the macroprudential tools are of a restrictive nature (as in Switzerland and Ireland).
Keywords: macroprudential policy; risk weights; capital adequacy ratio; transmission mechanism; LTV; LTI; difference in differences (search for similar items in EconPapers)
JEL-codes: E44 G28 O10 O16 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:bkr:journl:v:80:y:2021:i:3:p:94-104
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