MODELLING APPROACHES TO ASSESS THE EFFECTIVENESS OF MACRO-PRUDENTIAL POLICY

Radu Cuhal, Ludmila Stariţîna and Diana Sadoveanu
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Radu Cuhal: National Bank of Moldova, Chișinău, Republic of Moldova
Ludmila Stariţîna: National Bank of Moldova, Chișinău, Republic of Moldova
Diana Sadoveanu: National Bank of Moldova, Chișinău, Republic of Moldova

Journal of Financial and Monetary Economics, 2015, vol. 2, issue 1, 67-75

Abstract: In this paper was approached the problem of the effectiveness of the macro-prudential policy, which became an actual subject in scientific literature. We made a literature review of the applied methods to diagnose the effectiveness of the macro-prudential policy toolkit; explored the possible methodologies and frameworks which can be used to investigate the effectiveness of the implemented macro-prudential policies (Alpanda et al. (2014), CGFS (2012)); showed their advantages and drawbacks and proposed an empirical method. By this paper we aimed to develop a proper framework for policy-makers to follow for sustainable implementation of the macroprudential policy and assessment of its effectiveness.

Keywords: macro-prudential policy; effectiveness; DSGE model; emprical models (search for similar items in EconPapers)
JEL-codes: E5 G21 G28 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:vls:rojfme:v:2:y:2015:i:1:p:67-75

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