TY - BOOK ID - 84658610 TI - The macroprudential framework : policy responsiveness and institutional arrangements PY - 2013 SN - 1484366980 1557757631 1484349040 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Monetary policy KW - Macroeconomics. KW - Economics KW - Econometric models. KW - Banks and Banking KW - Finance: General KW - Macroeconomics KW - Public Finance KW - Industries: Financial Services KW - Financial Institutions and Services: Government Policy and Regulation KW - Central Banks and Their Policies KW - Financial Markets and the Macroeconomy KW - Taxation, Subsidies, and Revenue: General KW - Banks KW - Depository Institutions KW - Micro Finance Institutions KW - Mortgages KW - General Financial Markets: Government Policy and Regulation KW - Financial Institutions and Services: General KW - Public finance & taxation KW - Banking KW - Finance KW - Macroprudential policy KW - Institutional arrangements for revenue administration KW - Macroprudential policy instruments KW - Financial sector stability KW - Financial sector policy and analysis KW - Revenue administration KW - Financial sector KW - Economic sectors KW - Economic policy KW - Revenue KW - Banks and banking KW - Financial services industry KW - China, People's Republic of UR - https://www.unicat.be/uniCat?func=search&query=sysid:84658610 AB - This paper gauges if, and how, institutional arrangements are correlated with the use of macroprudential policy instruments. Using data from 39 countries, the paper evaluates policy response time in various types of institutional arrangements for macroprudential policy and finds that the macroprudential framework that gives the central bank an important role is associated with more timely use of macroprudential policy instruments. Policymakers may also tend to use macroprudential instruments more quickly if the ability to conduct monetary policy is somehow constrained. This finding points to the importance of coordination between macroprudential and monetary policy. ER -