Front Matter Page

Research Department

Contents

  • I. Introduction

  • II. Data

  • III. Empirical Analysis

    • A. Main Regression Results

    • B. Extensions and Robustness

  • IV. Conclusions

  • Tables

  • 1. Variables Definitions and Sources

  • 1b. Regression Variables

  • 1c. Country Subgroup Classification

  • 2. Macroprudential Policy Variables

  • 3. Descriptive Statistics of Main Regression Variables

  • 4. Macroprudential Policies and Credit Growth: Main Regression Results

  • 5. Effects of Instrument by Subgroups

  • 6. Effects of Individual Instruments on Several Variables

  • 7. Effects on Cross-Border Credit Ratio

  • 8. Interactions with Country Control Variables

  • 9. Interactions with the Financial Cycle

  • Figures:

  • 1. The Macroprudential Policy Index by Income Level

  • 2. The Relative use of Macroprudential Policies over Time, by Income Group

  • Annex:

  • 1. Macro-Prudential Dataset

The Use and Effectiveness of Macroprudential Policies: New Evidence
Author: Mr. Eugenio M Cerutti, Mr. Stijn Claessens, and Mr. Luc Laeven