Characterization of the Chilean financial cycle, early warning indicators and implications for macro-prudential policies
نویسندگان
چکیده
From the perspective of an emerging country – Chile we analyze recommendations Basel Committee Banking Supervision (BCBS) regarding design and implementation indicators to guide countercyclical capital buffer (CCyB) policy decisions. We sensitivity predictive power calculation methodology different early warning (EWIs), including standard credit-to-GDP gap. To meet these goals, expand available data loans, using quarterly from 1970 2017, which covers three financial fragility periods. Additionally, adjust methodologies according domestic structure excessive amplitude past local episodes. Finally, discuss some remaining challenges for application CCyB in Chile.
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ژورنال
عنوان ژورنال: Latin American journal of central banking
سال: 2021
ISSN: ['2666-1438']
DOI: https://doi.org/10.1016/j.latcb.2021.100024