How do institutional settings condition the effect of macroprudential policies on bank systemic risk?

Nicholas Apergis, Ahmet F. Aysan, Yassine Bakkar

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Abstract

This paper investigates the impact of different country-traits of the effects of macroprudential policies on systemic risks in OECD countries. The analysis documents that institutional quality, high capital stringency, and moderate supervision support macroprudential policies in mitigating systemic risks, depending on macroprudential instruments in force. Institutional, regulatory and supervisory frameworks differently affect the effectiveness of lender- vis-à-vis borrower-targeted policies.
Original languageEnglish
Article number10123
JournalEconomics Letters
Volume209
Early online date18 Oct 2021
DOIs
Publication statusPublished - Dec 2021

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