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 …

The paper proposes a simple, new, analytical framework for assessing the cost and benefits
of macroprudential policies. It proposes a measure of net benefits in terms of parameters …

The goal of this paper is to assess the effectiveness of the policy measures taken by
Canadian authorities to address the housing boom. We find that the the last three rounds of …

This paper assesses the costs of internal trade barriers and proposes policies to improve
internal trade. Estimates suggest that complete liberalization of internal trade in goods can …

This paper explores the nexus between the financial cycle and business cycle in Brazil.
Cycles are estimated using a variety of commonly-used statistical methods and with a small, …

While Brazil’s deep recession has been broad based, it has been marked by a particularly
large fall in investment. Real investment fell by around 30 percent between the beginning of …

Macro-feedback effects have been identified as a key missing element for more effective
macro-prudential stress testing. To fill this gap, this paper develops a framework that facilitates …

Climate change presents risks and opportunities for the real economies and financial sectors
of the IMF’s global membership. Understanding the risks is key to prepare for a successful …

We conduct simulations of the impact of the financial crisis on the Croatian economy using
the newly developed DSGE model for Croatia. The impact of the crisis is modeled by proxying …

The goal of this paper is to assess the effectiveness of the policy measures taken by
Canadian authorities to address the housing boom. We find that the the last three rounds of …