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Evidence of how macroprudential policies impact latina american economies depending on the type of their monetary regine structure
[Evidencia de la importancia de la estructura del régimen monetario para los impactos de las políticas macroprudenciales en las economías latinoamericanas]

Author

Listed:
  • Gabrielle Mari de Oliveira
  • Marcos Roberto Vasconcelos

Abstract

The objective of this study was to perform an empirical analysis of the macroeconomic effects of macroprudential policies and the influence of monetary regimes on these policies in the main countries of Latin America from 2007 to 2019. The countries analyzed were Argentina, Bolivia, Brazil, Costa Rica, Chile, Colombia, Ecuador, Mexico, Peru, and Uruguay. They were divided into countries that adopt the Inflation Targeting Regime (ITR) and those that have another monetary structure. For this end, the panel vector autoregression (PVAR) method was used. This paper points out that, in ITR countries, macroprudential policies achieve their goal of reducing credit. Moreover, other macroeconomic variables have the expected behavior. On the other hand, these policies seem to have contradictory impacts on non-ITR countrie

Suggested Citation

  • Gabrielle Mari de Oliveira & Marcos Roberto Vasconcelos, 2023. "Evidence of how macroprudential policies impact latina american economies depending on the type of their monetary regine structure [Evidencia de la importancia de la estructura del régimen monetari," Estudios Economicos, Universidad Nacional del Sur, Departamento de Economia, vol. 40(81), pages 101-129, july-dece.
    • Handle: RePEc:uns:esteco:v:40:y:2023:i:81:p:101-129
    DOI: https://doi.org/10.52292/j.estudecon.2023.3366
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    More about this item

    Keywords

    macroprudential policies; Latin America; inflation targeting regime;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination

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