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Experiences with Macroprudential Policy — Five Case Studies

Author

Listed:
  • Salim M. Darbar

    (Monetary and Capital Markets Department, International Monetary Fund, 700 19th Street N.W., Washington, D.C., 20431, USA)

  • Xiaoyong Wu

    (Monetary and Capital Markets Department, International Monetary Fund, 700 19th Street N.W., Washington, D.C., 20431, USA)

Abstract

This paper presents case studies of macroprudential policy in five jurisdictions (Hong Kong SAR, the Netherlands, New Zealand, Singapore, and Sweden). The case studies describe the institutional framework, its evolution, the use of macroprudential tools, and the circumstances under which the tools have been used. The paper shows how macroprudential policy is conducted under a heterogeneous set of institutional frameworks. In all cases, macroprudential tools have been used to address risks in the housing market. In addition, some of them have moved to enhance the resilience of their banks to more general cyclical and structural risks.

Suggested Citation

  • Salim M. Darbar & Xiaoyong Wu, 2016. "Experiences with Macroprudential Policy — Five Case Studies," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 7(03), pages 1-34, October.
    • Handle: RePEc:wsi:jicepx:v:07:y:2016:i:03:n:s1793993316500149
    DOI: 10.1142/S1793993316500149
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    References listed on IDEAS

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    2. Jensen, Henrik & Ravn, Søren Hove & Santoro, Emiliano, 2018. "Changing credit limits, changing business cycles," European Economic Review, Elsevier, vol. 102(C), pages 211-239.

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