What do we know about the effects of macroprudential policy

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A Fisherian approach to financial crises: Lessons from the Sudden Stops literature (2020, unknown): “Models like those studied by Lorenzoni (2008), Stein (2012), Gertler and Kiyotaki (2010) and Brunnermeier and Sannikov (2014) also feature credit frictions and related pecuniary externalities affecting the efficiency of competitive equilibria.”
Climate change challenges for central banks and financial regulators (2018, background): “The tools at their disposal vary across 165 jurisdictions, and could include reserve, liquidity, and capital requirements, caps on loan-to-value ratios and 166 ceilings on credit growth, in some cases aimed at specific sectors.(57,58) In some cases institutions holding riskier 167 assets are require”
Effective Macroprudential Policy: Cross‐Sector Substitution from Price and Quantity Measures (2016, background): “Galati and Moessner (2013, 2017) provide an overview of the literature, emphasizing the objectives, instruments, and analytical underpinnings of the macroprudential approach.”