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A Peer-reviewed scientific articles/A1 Journal article (refereed), original research
      
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Evaluating Indicators for Use in Setting the Countercyclical Capital Buffer, International Journal of Central Banking 2 (March) (2018). Tölö, Eero; Laakkonen, Helinä; Kalatie, Simo


Category A Peer-reviewed scientific articles
Sub-category A1 Journal article (refereed), original research
auki Internal authors
Tölö Eero / Macroprudential Analysis Division
All authors as text Tölö, Eero; Laakkonen, Helinä; Kalatie, Simo 
Number of authors
Status Published
Year of publication 2018 
Date 01.03.2018 
Name of article Evaluating Indicators for Use in Setting the Countercyclical Capital Buffer 
Name of journal International Journal of Central Banking
Volume of issue 14 
Number of issue 2 (March) 
Pages 51-112 
Abstract The European Systemic Risk Board (ESRB) recently issued a recommendation on the use of early warning indicators in macroprudential decisions involving the countercyclical capital buffer (Basel III framework). In addition to a primary indicator, deviation in the credit-to-GDP ratio from long-term trend, the ESRB advises the use of supplemental indicators to measure private-sector credit developments and debt burden, overvaluation of property prices, external imbalances, mispricing of risk, and strength of bank balance sheets. Based on empirical analysis of data for European Union countries, a large assortment of potential indicators, and comprehensive robustness checks, we propose specific suitable early warning indicators for each of the six risk categories set forth by the ESRB.
Index

Free text descriptor in Finnish pankit; pääoma; indikaattorit; riskit; 
JEL-codes G01, G28 
ISSN / e-ISSN 1815-4654 
auki Internet addresses
Notes BoF DP 8/2015 


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