01745cas a2200241 a 4500 AALejournalIMF011338 230101c9999 xx r poo 0 0eng d 5.00 USD 9781463922603 1018-5941 BD-DhAAL BD-DhAAL International Monetary Fund. Macroprudential Policy : What Instruments and How to Use them? Lessons From Country Experiences. Washington, D.C. : International Monetary Fund, 2011. 1 online resource (85 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper provides the most comprehensive empirical study of the effectiveness of macroprudential instruments to date. Using data from 49 countries, the paper evaluates the effectiveness of macroprudential instruments in reducing systemic risk over time and across institutions and markets. The analysis suggests that many of the most frequently used instruments are effective in reducing pro-cyclicality and the effectiveness is sensitive to the type of shock facing the financial sector. Based on these findings, the paper identifies conditions under which macroprudential policy is most likely to be effective, as well as conditions under which it may have little impact. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2011/238 Full text available on IMF http://elibrary.imf.org/view/journals/001/2011/238/001.2011.issue-238-en.xml IMF e-Library