ECBN 2017 Research Papers

The third Policy Research Conference of the European Central Banking Network held on 14-15 September 2017 brought together a distinguished group of researchers from 18 central banks, senior officials of other international financial institutions and leading academics to present and discuss policy-oriented research on “Evaluating the Effectiveness of Macroprudential Policies”.

Authors presented their research on different types of macroprudential instruments, using various methodologies and empirical approaches to assess their effectiveness. Participants had the chance to learn about country-specific experiences with the use and (short-run and long-run) impact of macroprudential policies and their interaction with market discipline for banks and with monetary policy. 

How effective are capital-based macroprudential measures in taming the macro-financial cycles?

Eddie Gerb (Bank of Spain)

Implications of the O-SII designation – evidence from Germany

Ursula Vogel (Deutsche Bundesbank)

The impact of sectoral macroprudential capital requirements on mortgage lending: evidence from the Belgian risk weight add-on​

Stijn Ferrari (National Bank of Belgium), Mara Pirovano (European Central Bank) and Pablo Rovira Kaltwasser (National Bank of Belgium)​

Implementation of macro-prudential tools Some examples from Iceland

Lúðvík Elíasson (Central Bank of Iceland​)

The Macroeconomic Effects of LTV And LTI Ratios in Ireland 

Matija Lozej and Ansgar Rannenberg (Central Bank of Ireland) 

Effectiveness and side effects of macroprudential measures: First evidence from Austria

Doeme Zsofia, Sigmund Michael and Ubl Eva (Oesterreichische Nationalbank)

Macroprudential mortgage restrictions and the risk profile of new lending

Fergal McCann and Ellen Ryan (Central Bank of Ireland)

Mortgage delinquency rates: A cross-country perspective

Irina Stanga, Razvan Vlahu and Jakob de Haan (De Nederlandsche Bank​)

Loan-to-value caps, bank lending, and spill-over to general-purpose loans

Selva Bahar Baziki, Tanju Çapacıoğlu (Central Bank of the Republic of Turkey​)

Bank liquidity management and potential impact of macroprudential liquidity measures

Domenica Di Virgilio (Bank of Slovenia)

Financial cycles: What are they and what do they look like in Denmark?

Oliver Juhler Grinderslev, Paul Lassenius Kramp, Anders Farver Kronborg and Jesper Pedersen (Danmarks Nationalbank)

FISS – A Factor Based Index of Systemic Stress in the Financial System​

Tibor Szendrei and Katalin Varga (Magyar Nemzeti Bank​)

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