Macroeconomic Consequences of Macroprudential Policy

本项目旨在调查宏观审慎政策的宏观经济后果，并就如何实施宏观审慎政策向政策制定者提供强有力的、基于经验的建议。全球金融危机促使许多国家推出新的政策，即所谓的宏观审慎政策，其明确目标是维持金融稳定。该项目的重要组成部分包括估计金融部门与宏观经济其他部门之间相互作用的多部门小型开放经济模型，并开发评估这些政策的新方法。评估宏观审慎政策表现对模型关键维度变化的敏感性是另一个重要方面。

This project aims to investigate the macroeconomic consequences of macroprudential policies and to provide robust, empirically-based advice to policy-makers about how they should be conducted. The global financial crisis motivated many nations to introduce new policies – known as macroprudential policies – with the explicit goal of maintaining financial stability. Important components of the project include estimation of a multisector small open economy model with interactions between the financial sector and the rest of the macroeconomy and development of new methods to evaluate these policies. Assessing the sensitivity of the performance of macroprudential policies to variations in key dimensions of the model is another important aspect.