Experiences with Macroprudential Policy—Five Case Studies

Author/Editor:

Salim M. Darbar ; Xiaoyong Wu

Publication Date:

June 19, 2015

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

This paper presents case studies of macroprudential policy in five jurisdictions (Hong Kong SAR, the Netherlands, New Zealand, Singapore, and Sweden). The case studies describe the institutional framework, its evolution, the use of macroprudential tools, and the circumstances under which the tools have been used. The paper shows how macroprudential policy is conducted under a heterogeneous set of institutional frameworks. In all cases macroprudential tools have been used to address risks in the housing market. In addition, some of them have moved to enhance the resilience of their banks to more general cyclical and structural risks.

Series:

Working Paper No. 2015/123

Subject:

Banking Financial institutions Financial sector policy and analysis Housing Housing prices Loans Macroprudential policy Mortgages National accounts Prices

English

Publication Date:

June 19, 2015

ISBN/ISSN:

9781513500812/1018-5941

Stock No:

WPIEA2015123

Pages:

41

Please address any questions about this title to publications@imf.org