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Modelling Approaches To Assess The Effectiveness Of Macro-Prudential Policy

Author

Listed:
  • CUHAL, Radu

    (National Bank of Moldova, Chișinău, Republic of Moldova)

  • STARIŢÎNA, Ludmila

    (National Bank of Moldova, Chișinău, Republic of Moldova)

  • SADOVEANU, Diana

    (National Bank of Moldova, Chișinău, Republic of Moldova)

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.

Suggested Citation

  • CUHAL, Radu & STARIŢÎNA, Ludmila & SADOVEANU, Diana, 2015. "Modelling Approaches To Assess The Effectiveness Of Macro-Prudential Policy," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 2(1), pages 67-75.
    • Handle: RePEc:vls:rojfme:v:2:y:2015:i:1:p:67-75
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    References listed on IDEAS

    as
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    3. Sami Alpanda & Gino Cateau & Césaire Meh, 2018. "A policy model to analyze macroprudential regulations and monetary policy," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 51(3), pages 828-863, August.
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    More about this item

    Keywords

    macro-prudential policy; effectiveness; DSGE model; emprical models;
    All these keywords.

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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