IMF paper: Costs of macro-pru policies still unclear
Policy-makers should ‘move carefully' in adopting macro-prudential tools as ‘knowledge is still limited'
The costs of macro-prudential policies remain largely unclear, according to an International Monetary Fund working paper (IMF), which argues policy-makers should "move carefully" in adopting macro-prudential tools.
An Overview of Macroprudential Policy Tools, by Stijn Claessens, argues there are several areas where "knowledge is still limited", including how macro-prudential polices affect resource allocations and how they can best be adapted to country circumstances.
"Caps on loan-to-value
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