Evaluating the Net Benefits of Macroprudential Policy : A Cookbook

The paper proposes a simple, new, analytical framework for assessing the cost and benefits of macroprudential policies. It proposes a measure of net benefits in terms of parameters that can be estimated: the probability of crisis, the loss in output given crisis, policy effectiveness in bringing down both the probability and damage during crisis, and the output-cost of a policy decision. It discusses three types of policy leakages and identifies instruments that could best minimize the leakages. Some rules of thumb for policymakers are provided

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Year of publication:	2013
Authors:	Arregui, Nicolas
Other Persons:	Beneš, Jaromír (contributor) ; Krznar, Ivo (contributor) ; Mitra, Srobona (contributor)
Publisher:	[2013]: [S.l.] : SSRN
Subject:	Finanzmarktaufsicht \| Financial supervision \| Wirkungsanalyse \| Impact assessment \| Kosten-Nutzen-Analyse \| Cost-benefit analysis

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