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Macroprudential Policy:The Case of Brazil

Ioannidis, Filippos LU (2014) NEKN01 20141
Department of Economics
Abstract
In the wake of 2008 financial crisis there has been growing interest in issues related to macroprudential policy and the coordinated attempt to ensure financial stability as a whole. The main objective of the paper is to provide a combination of both theoretical and empirical analysis of the effectiveness of macroprudential policy, implemented in Brazilian economy in 2010. Based on an existing methodology and using data from 46 countries, the paper develops methods for assessing the sensitivity of capital flows to global financial conditions. The main empirical findings cannot be interpreted in terms of effectiveness of the measures, since the interaction terms aiming to capture potential shift in Brazilian capital inflows turn out to be... (More)
In the wake of 2008 financial crisis there has been growing interest in issues related to macroprudential policy and the coordinated attempt to ensure financial stability as a whole. The main objective of the paper is to provide a combination of both theoretical and empirical analysis of the effectiveness of macroprudential policy, implemented in Brazilian economy in 2010. Based on an existing methodology and using data from 46 countries, the paper develops methods for assessing the sensitivity of capital flows to global financial conditions. The main empirical findings cannot be interpreted in terms of effectiveness of the measures, since the interaction terms aiming to capture potential shift in Brazilian capital inflows turn out to be statistically insignificant both prior and after the introduction of the measures. (Less)
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author
Ioannidis, Filippos LU
supervisor
organization
course
NEKN01 20141
year
type
H1 - Master's Degree (One Year)
subject
keywords
Macroprudential Policy, Systemic risk, Brazil, Capital flows
language
English
id
4457595
date added to LUP
2014-06-23 10:44:00
date last changed
2014-06-23 10:44:00
@misc{4457595,
  abstract     = {In the wake of 2008 financial crisis there has been growing interest in issues related to macroprudential policy and the coordinated attempt to ensure financial stability as a whole. The main objective of the paper is to provide a combination of both theoretical and empirical analysis of the effectiveness of macroprudential policy, implemented in Brazilian economy in 2010. Based on an existing methodology and using data from 46 countries, the paper develops methods for assessing the sensitivity of capital flows to global financial conditions. The main empirical findings cannot be interpreted in terms of effectiveness of the measures, since the interaction terms aiming to capture potential shift in Brazilian capital inflows turn out to be statistically insignificant both prior and after the introduction of the measures.},
  author       = {Ioannidis, Filippos},
  keyword      = {Macroprudential Policy,Systemic risk,Brazil,Capital flows},
  language     = {eng},
  note         = {Student Paper},
  title        = {Macroprudential Policy:The Case of Brazil},
  year         = {2014},
}