Macroprudential Regulation and Economic Growth
摘要
Provides an analysis of the links between macroprudential regulation, in the form of capital requirements, and economic growth from a longer-run perspective. The analysis is based on a two-period overlapping generations model with banking. The analysis highlights the fact that there are several channels, in addition to mitigating effects on risk-taking, through which capital requirements can affect long-run growth. These channels may operate in opposite directions, making their net impact ambiguous.