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51. Ekonomska radionica HNB-a održana je online u srijedu 19. listopada 2022. u 14h na engleskom jeziku. Na radionici je Jorge E.Galán iz Španjolske središnje banke predstavio svoje istraživanje o utjecaju makroprudencijalne politke na rast
The benefits are at the tail: Uncovering the impact of macroprudential policy on growth-at-risk
The paper uncovers relevant benefits of macroprudential policy on the left tail of the GDP growth distribution, which may offset the deterioration produced by the build-up of cyclical vulnerabilities and the materialization of financial risk.
The effects of macroprudential policy on growth-at-risk are dependent on the position in the financial cycle, the type of instrument implemented, and the time elapsed since its implementation.
Rad je objavljen u časopisu Journal of Financial Stability.