Evidencia sobre el impacto y la efectividad de las herramientas macroprudenciales

Resumen

En este artículo se presentan dos ejercicios empíricos complementarios sobre el posible impacto de las políticas macroprudenciales en España. El primero, se basa en la estimación de un modelo vectorial autorregresivo estructural (SVAR) y el segundo utiliza un modelo de crecimiento en riesgo (growth-at-risk). Los resultados coinciden en destacar el papel de la política macroprudencial para mitigar riesgos de naturaleza sistémica.

Palabras clave:

estabilidad financiera, riesgo sistémico, crecimiento en riesgo, modelo SVAR

Citas

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