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dc.contributor.author Peydró, José-Luis
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
dc.date.accessioned 2020-05-25T09:26:50Z
dc.date.available 2020-05-25T09:26:50Z
dc.date.issued 2016-01-01
dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=1700
dc.identifier.citation Swiss Journal of Economics and Statistics, 152(4), October 2016, pp. 305-318
dc.identifier.uri http://hdl.handle.net/10230/44698
dc.description.abstract In this paper we analyze financial crises and the interactions of macroprudential policy and credit. Financial crises are recurrent systemic phenomena, often triggering deep and long-lasting recessions with large reductions in aggregate welfare, output and employment. Importantly for policy, systemic financial crises are typically not random events triggered by exogenous events, but they tend to occur after periods of rapid, strong credit growth. Moreover, a credit crunch tends to follow in a financial crisis with negative aggregate real effects. Macroprudential policy softens the credit supply cycles, with important positive effects on the aggregate real economy in crisis times.
dc.format.mimetype application/pdf
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 1700
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.title Macroprudential policy and credit supply
dc.title.alternative
dc.type info:eu-repo/semantics/workingPaper
dc.date.modified 2020-05-25T09:26:22Z
dc.subject.keyword financial crises
dc.subject.keyword macroprudential policy
dc.subject.keyword credit supply
dc.subject.keyword risk-taking
dc.subject.keyword capital
dc.subject.keyword liquidity
dc.subject.keyword Finance and Accounting
dc.rights.accessRights info:eu-repo/semantics/openAccess

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