02300cas a2200277 a 4500 AALejournalIMF021104 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513550503 1018-5941 BD-DhAAL BD-DhAAL Juria, Pavol. The Effectiveness of Borrower-Based Macroprudential Measures : A Quantitative Analysis for Slovakia / Pavol Juria, Jan Klacso, Eugen Tereanu, Marco Forletta. Washington, D.C. : International Monetary Fund, 2020. 1 online resource (37 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 We develop a semi-structural quantitative framework that combines micro and macroeconomic data to assess the effectiveness of combinations of borrower-based macroprudential measures in Slovakia. We expand on the integrated dynamic household balance sheet model of Gross and Poblacion (2017) by introducing an endogenous loan granting feature, in turn to quantify the potential (ex-ante) impact of macroprudential measures on resilience parameters, compared with a counterfactual no-policy scenario, under adverse macroeconomic conditions. We conclude that (1) borrower-based measures can noticeably improve household and bank resilience to macroeconomic downturns, in particular when multiple measures are applied; (2) those measures tend to complement each other, as the impact of individual instruments is transmitted via different channels; and (3) the resilience benefits are more sizeable if the measures effectively limit the accumulation of risks before an economic downturn occurs, suggesting that an early, preemptive implementation of borrower-based measures is indeed warranted. Mode of access: Internet Forletta, Marco. Klacso, Jan. Tereanu, Eugen. IMF Working Papers; Working Paper ; No. 2020/134 Full text available on IMF http://elibrary.imf.org/view/journals/001/2020/134/001.2020.issue-134-en.xml IMF e-Library