Macroprudential Policy: Objectives, Instruments and Indicators (Política macroprudencial: objetivos, instrumentos e indicadores)

26 Pages Posted: 21 Jan 2016

Date Written: January 19, 2016

Abstract

English Abstract: This document presents the analytical framework recently developed by the Banco de España for the implementation of its macroprudential policy. The methodology described uses a broad set of indicators that enables macroprudential risks to be monitored through risk mapping. This framework will provide support for the Banco de España’s broad macroprudential policy stance.

Spanish Abstract: Este documento presenta el marco analítico desarrollado recientemente por el Banco de España para la puesta en marcha de su política macroprudencial. La metodología descrita incorpora un amplio conjunto de indicadores que permiten realizar un seguimiento de los riesgos macroprudenciales a través de un mapa de riesgos. El marco servirá de soporte para definir la orientación general de la política macroprudencial del Banco de España.

Keywords: early warning indicators, macroprudential policy stance, macroeconomic actual conditions

JEL Classification: G21, G32

Suggested Citation

Mencia, Javier and Saurina Salas, Jesus, Macroprudential Policy: Objectives, Instruments and Indicators (Política macroprudencial: objetivos, instrumentos e indicadores) (January 19, 2016). Banco de Espana Occasional Paper No. 1601, Available at SSRN: https://ssrn.com/abstract=2718380 or http://dx.doi.org/10.2139/ssrn.2718380

Javier Mencia (Contact Author)

Banco de España ( email )

Alcala 50
Madrid 28014
Spain
+34 91 338 5414 (Phone)
+34 91 338 6104 (Fax)

HOME PAGE: http://www.bde.es/investigador/staff/66.htm

Jesus Saurina Salas

Banco de España ( email )

Madrid 28014
Spain

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