The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.
Macroprudential Policy, Countercyclical Bank Capital Buffers, and Credit Supply: Evidence from the Spanish Dynamic Provisioning Experiments
Open accessAbstract
To study the impact of macroprudential policy on credit supply cycles and real effects, we analyze dynamic provisioning. Introduced in Spain in 2000, revised four times, and tested in its countercyclicality during the crisis, it affected banks differentially. We find that dynamic provisioning smooths credit supply cycles and, in bad times, supports firm performance. A 1 percentage point increase in capital buffers extends credit to firms by 9 percentage points, increasing firm employment (6 percentage points) and survival (1 percentage point). Moreover, there are important compositional effects in credit supply related to risk and regulatory arbitrage by nonregulated and regulated but less affected banks.
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Cites
Corporate financing and investment decisions when firms have information that investors do not have
Myers, S. C., & Majluf, N. S. (1984) · Journal of Financial Economics · doi:10.1016/0304-405x(84)90023-0 · Cited by 18,957
Financial intermediation and delegated monitoring
Diamond, D. W. (1984) · The Review of Economic Studies · doi:10.2307/2297430 · Cited by 8,476
Agency Costs, Net Worth, And Business Fluctuations
Bernanke, B., Gertler, M., Bernanke, B., & Gertler, M. (1988) · Unknown · doi:10.22004/ag.econ.292693 · Cited by 4,386
Cited by
Banks Response to Higher Capital Requirements: Evidence from a Quasi-Natural Experiment
Gropp, R., Mosk, T., Ongena, S., & Wix, C. (2019) · The Review of Financial Studies · doi:10.1093/rfs/hhy052 · Cited by 394
Self-citationBank liquidity creation and real economic output
Berger, A. N., & Sedunov, J. (2017) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2017.04.005 · Cited by 268
Bank Capital Redux: Solvency, Liquidity, and Crisis
Jordà, Ò., Richter, B., Schularick, M., & Taylor, A. (2017) · doi:10.3386/w23287 · Cited by 64
Expected Losses, Unexpected Costs? Evidence from SME Credit Access under IFRS 9
Ertan, A. (2025) · The Accounting Review · doi:10.2308/tar-2022-0301 · Cited by 39
Metadata
- Authors
- Jiménez, G., Ongena, S., Peydró, J.-L., & Saurina, J.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 2017-12
- Volume
- 125
- Issue
- 6
- Pages
- 2126-2177
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W3123780046
- Cited by
- 655
- References
- 3
- FWCI
- 79.50
- Type
- journal article
- Language
- en
- Open access
- green
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- Jiménez, G., Ongena, S., Peydró, J.-L., & Saurina, J. (2017). Macroprudential Policy, Countercyclical Bank Capital Buffers, and Credit Supply: Evidence from the Spanish Dynamic Provisioning Experiments. Journal of Political Economy. https://doi.org/10.1086/694289
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