Macro-Prudential Policies and Financial Cycle in Iran
سال انتشار: 1400
نوع سند: مقاله ژورنالی
زبان: انگلیسی
مشاهده: 229
فایل این مقاله در 20 صفحه با فرمت PDF قابل دریافت می باشد
- صدور گواهی نمایه سازی
- من نویسنده این مقاله هستم
استخراج به نرم افزارهای پژوهشی:
شناسه ملی سند علمی:
JR_IJBDS-13-1_005
تاریخ نمایه سازی: 19 دی 1400
چکیده مقاله:
Financial markets are channels for attracting surplus financial resources and allocating them to investment. Macro-prudential policy needs to consider financial cycle in order to assess the state of the financial sector, predict its developments and justify the need for specific policy tools. we examined the effect of macro-prudential policies on financial cycle of Iran's economy Over the period ۲۰۰۸-۲۰۱۸ using Unobserved Components Structural Time Series Model. We explored the effect of macro-prudential policy index and other variables on the financial cycle. The findings of this study, using the Generalized method of moments (GMM) for the time series data, suggested that the macro-prudential policy index has a negative and significant effect on the financial cycle in the Iranian economy. Also, the probability(likelihood) of a banking crisis, the interbank market loan rate and the economic growth index have positive and significant effect on the financial cycle.
کلیدواژه ها: