Macroprudential Policy, Countercyclical Bank Capital Buffers, and Credit Supply: Evidence from the Spanish Dynamic Provisioning Experiments

By Gabriel Jiménez, Steven R. G. Ongena, José-Luis Peydró, Jesús Saurina. Journal of Political Economy, 2017

681 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/6e0a112ff5b2c0c54c05346ef90c7917dcb91ada

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Citations in the corpus

Bank Capital Redux: Solvency, Liquidity, and Crisis (2017, positive): “Rather, the evidence suggests that the disciplining effects of bank capital are absent when they presumably matter most: during credit booms (Jiménez et al. 2017). This finding is consistent with work that points to the overoptimism of insiders and market-wide neglect of crash risk during credit boo”
Effective Macroprudential Policy: Cross‐Sector Substitution from Price and Quantity Measures (2016, background): “For example, by exploiting bank-specific shocks to capital buffers, Jiménez et al. (2012) show that Spain’s dynamic provisioning requirements helped smooth cycles in the supply of credit. With Korean data on housing and mortgage activity, Igan and Kang (2011) find that the tightening of DTI and LTV ”
Where the Risks Lie: A Survey on Systemic Risk (2017, neutral): “Jobst (2014) gives an overview of the different instruments proposed by academics.”
Cross-Border Prudential Policy Spillovers: How Much? How Important? Evidence from the International Banking Research Network (2016, background): “Examples include Bruno and Shin (2014), International Monetary Fund (2011), Jiménez et al. (2012), and Vandenbussche, Vogel, and Detragiache (2015).”
Fostering green investments and tackling climate-related financial risks: Which role for macroprudential policies? (2019, background): “CCyBs are designed to reinforce financial institutions defenses against the build-up of systemic vulnerabilities and serve as a cushion during the contractionary phase of a credit cycle (Drehmann and Gambacorta, 2012; Jiménez et al., 2017; Popoyan et al., 2017).”
The Anatomy of the Transmission of Macroprudential Policies (2020, neutral): “Our paper is also related to the literature, empirical (Aiyar et al., 2014; Jimenez et al., 2017; Gropp et al., 2019; Benetton, 2018; Benetton et al., 2017; De Marco and Wieladek, 2015; Ayyagari et al., 2019) and theoretical (Landvoigt and Begenau, 2017; Elenev et al.”
The public costs of climate-induced financial instability (2019, background): “In such a context, heterogeneity is crucial, as banks with diverse capital structures are dierentially vulnerable to (climate-induced) shocks and dierentially impact the macro-economy in case of failure [Jimnez et al., 2017], while also possibly triggering bankruptcy cascades.”
The benefits are at the tail: Uncovering the impact of macroprudential policy on growth-at-risk (2020, background): “While the median effect is negative in the short-run, which is consistent with most of studies assessing the impact of capital and solvency ratios on the conditional mean GDP growth (Noss and Toffano, 2016; Jiménez et al., 2017), the impact on the left tail of the distribution is clearly positive id”
Accounting for financial stability: Bank disclosure and loss recognition in the financial crisis (2021, neutral): “27 These findings are consistent with a similar analysis in Laux and Leuz (2010) on the four largest banks. 28 This evidence is consistent with Vyas (2011) and Huizinga and Laeven (2012).”