Mitigating the Cost of Stricter Macroprudential Policies

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dc.contributor.authorDadashova, Pervin
dc.contributor.authorJonsson, Magnus
dc.date.accessioned2020-07-24T13:47:43Z
dc.date.available2020-07-24T13:47:43Z
dc.date.issued2019
dc.description.abstractWe examine how to implement macroprudential policies – stricter capital requirements and loan-tovalue limits – in order to mitigate the output loss of corporate debt deleveraging. The analysis is performed in a dynamic general equilibrium model calibrated to fit the U.S. economy. Stricter capital requirements are generally costlier in terms of output losses than stricter loan-to-value limits. For both instruments, the output loss is a convex function of the debt-to-GDP ratio. Finally, the output loss can be significantly reduced by implementing the requirements gradually, and by activating a countercyclical capital buffer.en_US
dc.identifier.citationDadashova P. A. Mitigating the Cost of Stricter Macroprudential Policies : [working papers] / P. Dadashova, M. Jonsson ; National Bank of Ukraine - Kyiv : [National Bank of Ukraine], 2019. - 20 p.en_US
dc.identifier.urihttps://ekmair.ukma.edu.ua/handle/123456789/17725
dc.language.isoenen_US
dc.relation.sourceNational Bank of Ukraineen_US
dc.statusfirst publisheden_US
dc.subjectcapital requirementsen_US
dc.subjectloan-to-value requirementsen_US
dc.subjectoutput lossen_US
dc.subjectgradual implementationen_US
dc.subjectworking papersen_US
dc.titleMitigating the Cost of Stricter Macroprudential Policiesen_US
dc.typeWorking Paperen_US
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Лабораторія фінансово-економічних досліджень