Banca de DEFESA: Bruna Fernandes Guimarães

Uma banca de DEFESA de MESTRADO foi cadastrada pelo programa.
STUDENT : Bruna Fernandes Guimarães
DATE: 06/03/2025
TIME: 17:00
LOCAL: A defesa será realizada por vídeoconferência
TITLE:

: Credit Growth, Inflation-Targeting and the Role of Macroprudential Policies: Does Targeting Matter?

KEY WORDS:

Macroprudential Policy, Inflation Targeting, Monetary Policy, Financial Stability, Credit Growth

PAGES: 59
BIG AREA: Ciências Sociais Aplicadas
AREA: Economia
SUMMARY:

Exploring a dataset spaning from 2005 to 2021, comprised of 38 countries, between advanced economies and emerging and developing markets, with and without a formal, single country inflation-targeting regime, across three different borrowing sectors, this research empirically investigates the complex relationship between macroprudential policy, inflation-targeting and credit growth. Using a macroprudential policy index composed of 17 different policy tools, it is possible to capture the net tightening/loosening stance and to measure it's effects on quarterly credit stock growth. The results points towards the negative effects of macroprudential policy tightening on credit growth, however, with some new important insights: inflation-targeting, especially for EMDE, is associated with a overall lower baseline credit growth. Inflation-targeting countries, both AE and EMDE, show a relatively faster response of macroprudential policy action effect, when compared to their non-targeting counter parts. On the other hand, Government borrowing seems to be less affected by macroprudential policy action in inflationtargeting countries.

COMMITTEE MEMBERS:
Externo à Instituição - ANDERSON MUTTER TEIXEIRA - UFG
Presidente - 1642911 - DANIEL OLIVEIRA CAJUEIRO
Interno - 1550794 - JOSE GUILHERME DE LARA RESENDE
Externo à Instituição - REGIS AUGUSTO ELY - UFPel