Abstract

DE OLIVEIRA, Gabrielle Mari  and  VASCONCELOS, Marcos Roberto. EVIDENCE OF HOW MACROPRUDENTIAL POLICIES IMPACT LATIN AMERICAN ECONOMIES DEPENDING ON THE TYPE OF THEIR MONETARY REGIME STRUCTURE. Estud. econ. [online]. 2023, vol.40, n.81, pp.101-129. ISSN 2525-1295.

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 countries.

Keywords : macroprudential policies; Latin America; Inflation Targeting Regime.

        · abstract in Spanish     · text in English     · English ( pdf )