Mr.Ivo Krznar

Evaluating the Net Benefits of Macroprudential Policy

A Cookbook

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

The Macroprudential Framework

Policy Responsiveness and Institutional Arrangements

This paper gauges if, and how, institutional arrangements are correlated with the use of macroprudential policy instruments. Using data from 39 countr...

Towards Macroprudential Stress Testing

Incorporating Macro-Feedback Effects

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

Financial and Business Cycles in Brazil

This paper explores the nexus between the financial cycle and business cycle in Brazil. Cycles are estimated using a variety of commonly-used statisti...

The Global Bank Stress Test

This paper presents the framework underlying the Global Bank Stress Test (GST) and applies it to recent data and global scenarios to illustrate the us...

With Great Power Comes Great Responsibility

Macroprudential Tools at Work in Canada

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 t...