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The interaction bet...
The interaction between macroprudential and monetary policies: The cases of Norway and Sweden
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- Cao, Jin (author)
- The central bank of Norway
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- Dinger, Valeriya (author)
- University of Leeds,University of Osnabrück
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- Grodecka-Messi, Anna (author)
- Lund University,Lunds universitet,Nationalekonomiska institutionen,Ekonomihögskolan,Department of Economics,Lund University School of Economics and Management, LUSEM
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- Juelsrud, Ragnar (author)
- The central bank of Norway
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- Zhang, Xin (author)
- Sveriges Riksbank
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(creator_code:org_t)
- 2020
- English 36 s.
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Series: Norges Bank Working Paper
- Related links:
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https://static.norge... (free)
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https://lup.lub.lu.s...
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Abstract
Subject headings
Close
- To shed light on the interaction between macroprudential and monetary policies, we study the inward transmission of foreign monetary policy in conjunction with domestic macroprudential and monetary policies in Norway and Sweden. Using detailed bank-level data we show how Norwegian and Swedish banks’ lending reacts to monetary policy surprises arising abroad, controlling for the domestic macroprudential stance and the interaction between monetary and macroprudential policies. In both countries, the domestic macroprudential policy helps mitigate the effects arising after foreign monetary surprises.
Subject headings
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Keyword
- monetary policy, macroprudential policy, policy interactions, bank lending, inward transmission, international bank lending channel
Publication and Content Type
- ovr (subject category)
- vet (subject category)
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