Macro-prudential policies to contain the effect of structural risks on financial downturns
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F23%3A10253465" target="_blank" >RIV/61989100:27510/23:10253465 - isvavai.cz</a>
Alternative codes found
RIV/49777513:23510/23:43969639
Result on the web
<a href="https://www.sciencedirect.com/science/article/pii/S0161893823000959?via%3Dihub" target="_blank" >https://www.sciencedirect.com/science/article/pii/S0161893823000959?via%3Dihub</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.jpolmod.2023.08.001" target="_blank" >10.1016/j.jpolmod.2023.08.001</a>
Alternative languages
Result language
angličtina
Original language name
Macro-prudential policies to contain the effect of structural risks on financial downturns
Original language description
We investigate the extent to which various structural risks exacerbate the materialization of credit risk and affect financial cycle downturns. We use a large database covering all sorts of cyclical and structural features of the financial sector and the real economy for a panel of 30 countries over the period 2006Q1-2019Q4. We show that elevated levels of structural risks may have an important role in explaining the severity of credit risk materialization during financial cycle contractions. Among these risks, private and public sector indebtedness, banking sector resilience and concentration of real estate exposures stand out. Moreover, we show that the elevated levels of some of the structural risks identified may be related to long-standing accommodative economic policy. Our evidence implies a stronger role for macroprudential policy, especially in countries with higher levels of structural risks. (C) 2023 The Society for Policy Modeling
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50202 - Applied Economics, Econometrics
Result continuities
Project
—
Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2023
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Journal of Policy Modeling
ISSN
0161-8938
e-ISSN
1873-8060
Volume of the periodical
45
Issue of the periodical within the volume
6
Country of publishing house
US - UNITED STATES
Number of pages
18
Pages from-to
1204-1222
UT code for WoS article
001125253700001
EID of the result in the Scopus database
2-s2.0-85171352082