دورية أكاديمية
Macroprudential policy, countercyclical bank capital buffers and credit supply: evidence from the spanish dynamic provisioning experiments
| العنوان: | Macroprudential policy, countercyclical bank capital buffers and credit supply: evidence from the spanish dynamic provisioning experiments |
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| المؤلفون: | Jiménez, Gabriel, Ongena, Steven, Peydró, José-Luis, Saurina, Jesús |
| بيانات النشر: | University of Chicago Press ZBW – Leibniz Information Centre for Economics |
| سنة النشر: | 2017 |
| مصطلحات موضوعية: | ddc:330, E51, E58, E60, G01, G21, G28, macroprudential policy, financial crises, credit, bank capital, systemic risk, eco, socio |
| الوصف: | To study the impact of macroprudential policy on credit supply cycles and real effects, we analyze dynamic provisioning. Introduced in Spain in 2000, revised four times, and tested in its countercyclicality during the crisis, it affected banks differentially. We find that dynamic provisioning smooths credit supply cycles and, in bad times, supports firm performance. A 1 percentage point increase in capital buffers extends credit to firms by 9 percentage points, increasing firm employment (6 percentage points) and survival (1 percentage point). Moreover, there are important compositional effects in credit supply related to risk and regulatory arbitrage by nonregulated and regulated but less affected banks. |
| نوع الوثيقة: | article in journal/newspaper |
| اللغة: | English |
| تدمد: | 1537-534X |
| العلاقة: | Journal: Journal of Political Economy; Volume: 125; Year: 2017; Issue: 6; Pages: 2126-2177; Chicago, IL: University of Chicago Press; RePEc:zbw:espost:216804; http://hdl.handle.net/10419/216804Test |
| DOI: | 10.1086/694289 |
| الإتاحة: | https://doi.org/10.1086/694289Test http://hdl.handle.net/10419/216804Test |
| حقوق: | undefined ; other |
| رقم الانضمام: | edsbas.E11D327D |
| قاعدة البيانات: | BASE |
| تدمد: | 1537534X |
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| DOI: | 10.1086/694289 |