Macro-prudential policy versus asset price bubbles in monetary union member states the case of Spain /
The paper considers the ability of macro-prudential instruments – top-down regulations applied on the financial system as a whole, aimed at slowing credit growth and decreasing systemic risk – to flatten a growing asset price bubble in a country not having independent monetary policy. This is proble...
Elmentve itt :
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| Dokumentumtípus: | Könyv része |
| Megjelent: |
2014
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| Sorozat: | Crisis Management and the Changing Role of the State
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| Kulcsszavak: | Ingatlanpiac - Spanyolország, Pénzügy - Spanyolország |
| Online Access: | http://acta.bibl.u-szeged.hu/57514 |
| LEADER | 01644naa a2200193 i 4500 | ||
|---|---|---|---|
| 001 | acta57514 | ||
| 005 | 20221108102528.0 | ||
| 008 | 190524s2014 hu o 1|| zxx d | ||
| 020 | |a 978-963-306-340-8 | ||
| 040 | |a SZTE Egyetemi Kiadványok Repozitórium |b hun | ||
| 041 | |a zxx | ||
| 100 | 1 | |a Karaś Małgorzata | |
| 245 | 1 | 0 | |a Macro-prudential policy versus asset price bubbles in monetary union member states |h [elektronikus dokumentum] : |b the case of Spain / |c Karaś Małgorzata |
| 260 | |c 2014 | ||
| 300 | |a 13-31 | ||
| 490 | 0 | |a Crisis Management and the Changing Role of the State | |
| 520 | 3 | |a The paper considers the ability of macro-prudential instruments – top-down regulations applied on the financial system as a whole, aimed at slowing credit growth and decreasing systemic risk – to flatten a growing asset price bubble in a country not having independent monetary policy. This is problem is analyzed from the perspective of Spain – a eurozone member state, for which the common monetary policy turned out to be expansionary, and which introduced a macro-prudential tool, dynamic provisioning, in the previous decade. The paper analyses the factors that influenced the emergence of the bubble of the Spanish real estate market in the previous decade. It takes into account demand and supply factors, as well as discusses the ECB’s monetary policy in the context of Spain. Finally, it provides an overview of dynamic provisioning, the Spanish macro-prudential tool. | |
| 695 | |a Ingatlanpiac - Spanyolország, Pénzügy - Spanyolország | ||
| 856 | 4 | 0 | |u http://acta.bibl.u-szeged.hu/57514/1/crisis_management_013-031.pdf |z Dokumentum-elérés |