BIS paper adds evidence on macro-prudential spillovers
Macro-prudential policy may have unintended global consequences
Tightening macro-prudential policy in one country tends to boost lending internationally, research published by the Bank for International Settlements (BIS) on October 20 finds.
Stefan Avdjiev, Catherine Koch, Patrick McGuire and Goetz von Peter employ a bilateral panel regression based on BIS banking data and information on country-specific macro-prudential policy in their paper, International prudential policy spillovers: a global perspective.
Loan-to-value (LTV) limits and local currency
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