Analyzing the effectiveness of macroprudential policy and its interaction with the credibility of monetary policy

This project will study the effects of macroprudential measures on house price and credit growth using a novel index that captures the restrictiveness of each measure. Next, the framework of reciprocity regulation put in place to minimize cross-border spillovers of macroprudential policy will be investigated. Finally, I will analyze the interaction of macroprudential policy with the credibility of monetary policy.