financial conditions

Tihana Škrinjarić How effective is macroprudential policy and how should policymakers measure its stance? My recent paper surveys the literature on the topic of Growth-at-Risk (GaR), which has been developed as a methodology to provide answers to these questions by relating the effects of macroprudential policy tools to real-economy dynamics. While the results are mixed, … Continue reading Growth-at-Risk for macroprudential policy stance assessment: a survey →

Natalie Burr The challenge of measuring financial conditions Imagine you were tasked with thinking about how financial conditions have changed over a policy tightening cycle. Different economists would come to very different conclusions, and none would necessarily be wrong. Why? Because measuring financial conditions is challenging – for a variety of reasons. A financial conditions … Continue reading The challenges of measuring financial conditions →