Interactions between monetary and macroprudential policies in the transmission of discretionary shocks

Vinhado, Fernando da Silva; Divino, José Ângelo

doi:10.1016/j.najef.2019.101020

Cited by 3 publications

(2 citation statements)

References 17 publications

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“…by deliberately manipulating the level of taxation in the country and the volume of government spending (Larch et al, 2021). The structure of specific measures depends on the government's goals and the ratio of the effectiveness of implementing these measures on the part of revenues and budget expenditures (Larch et al, 2021;Vinhado & Divino, 2019).…”

Section: Literature Reviewmentioning

confidence: 99%

“…Modern economic literature examines fiscal risks and the effectiveness of the fiscal policy, as a rule, in the face of a shock to aggregate demand (financial crises, reduced investment inflows, excessive export dependence) (Montes & de Hollanda Lima, 2021;Larch et al, 2021;Vinhado & Divino, 2019). Or in a crisis of aggregate supply Fiscal policy effectiveness and risks in the development of Azerbaijan's economy… Shafa Guliyeva et al www.ieeca.org/journal (volatility in the level of prices for crude oil, a decrease in labor productivity and the quality of human capital, etc.)…”

Section: Literature Reviewmentioning

confidence: 99%

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Fiscal policy effectiveness and risks in the development of Azerbaijan’s economy during economic shock

Guliyeva

Gadimli

Azizov

et al. 2021

JEECAR

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The study aimed to empirically evaluate the effectiveness of fiscal policy in the context of the economic slowdown in Azerbaijan caused by the COVID19 pandemic. Using the Granger test, causal relationships between fiscal indicators and indicators of macroeconomic development in Azerbaijan have been determined. Presented an integrated assessment of the development of the national economy under the influence of the fiscal policy in the country. Using the regression analysis, fiscal risks have been identified that have a destabilizing effect on the economy and aggravating its state during a period of economic shock in the short term. The hypothesis about the different influence of the values of the public expenditure multipliers on the economy, depending on their functional directions, has been confirmed. The structure of expenses of the state budget of Azerbaijan has been empirically optimized, increasing production expenses.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Fiscal policy effectiveness and risks in the development of Azerbaijan’s economy during economic shock

Guliyeva

Gadimli

Azizov

et al. 2021

JEECAR

View full text Add to dashboard Cite

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Macroprudential regulation and financial inclusion: Any difference between developed and developing countries?

Raksmey

Lin²,

Kakinaka³

2022

Research in International Business and Finance

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The effects of macroprudential policies in the Brazilian banking sector

Moscareli,

Tessmann,

Beppler

et al. 2024

JFEP

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Purpose This paper aims to investigate the effects of macroprudential policies in Brazil on the banking sector. Design/methodology/approach Autoregressive models with distributed lags (ADL) are estimated to verify whether such regulatory measures affected the volume of credit, the banking spread and the concentration index of the five largest Brazilian banks. In addition to the variables of interest, monthly macroeconomic data from 2011 to 2021 are considered. Findings Our results suggest that macroprudential policies are effective in reducing credit volume. More importantly, our findings highlight two possible adverse effects of these instruments. Firstly, macroprudential tightenings are associated with increases in bank spread. Secondly, tightening measures contribute to increasing bank market concentration. Originality/value These findings are useful for the scientific literature that investigates the regulation of the financial system by providing empirical evidence of the effects of Brazilian macroprudential measures on investors, policymakers and other economic agents whose well-being is associated with economic stability.

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Interactions between monetary and macroprudential policies in the transmission of discretionary shocks

Cited by 3 publications

References 17 publications

Fiscal policy effectiveness and risks in the development of Azerbaijan’s economy during economic shock

Fiscal policy effectiveness and risks in the development of Azerbaijan’s economy during economic shock

Macroprudential regulation and financial inclusion: Any difference between developed and developing countries?

The effects of macroprudential policies in the Brazilian banking sector

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