Template-type: ReDIF-Article 1.0
Author-Name: Henry Penikas
Author-Email: penikasgi@mail.cbr.ru
Author-Workplace-Name: Bank of Russia, Higher School of Economics, Lebedev Physical Institute
Title: Review of Bank of Russia – NES Workshop 'Identification and Measurement of Macroprudential Policies Effects'
Abstract: In the first week of June 2021, the Bank of Russia and the New Economic School hosted a joint international online workshop titled 'Identification and Measurement of Macroprudential Policies Effects'. Participants' presentations suggest that macroprudential policy measures against high-risk lending produce their intended effects, but also, as a rule, bring about side effects. These effects may include a reduction in low-risk loan disbursements, if such measures are disincentivising in nature (as in Russia), or, vice versa, significant growth in the portfolio of low-risk loans, if the macroprudential tools are of a restrictive nature (as in Switzerland and Ireland).
Classification-JEL: E44, G28, O10, O16
Keywords: macroprudential policy, risk weights, capital adequacy ratio, transmission mechanism, LTV, LTI, difference in differences
Journal: Russian Journal of Money and Finance
Pages: 94-104
Volume: 80
Issue: 3
Year: 2021
Month: September
DOI: 10.31477/rjmf.202103.94
File-URL: https://rjmf.econs.online/upload/iblock/902/Review_of_Bank_of_Russia_NES_Workshop_Identification_and_Measurement_of_Macroprudential_Policies_Effects.pdf
Handle: RePEc:bkr:journl:v:80:y:2021:i:3:p:94-104