Does the Credit Cycle Exist? Policy Recommendations Based on Empirical Analyses of the Polish Banking Sector

• Autorzy: Mateusz Pipień , Dobiesław Tymoczko

Warianty tytułu

Czy cykl kredytowy istnieje? Analizy empiryczne polskiego sektora bankowego i rekomendacje dla polityki makro-ostrożnościowej

• Języki publikacji: EN

Abstrakty

EN

Macroprudential policy gained significance after the 2007 crisis, increasing the importance of financial cycle analyses. In this study, the authors investigate the empirical features of the credit cycle in Poland, broken down by individual banks. The results point out a decrease in the amplitude of cyclical fluctuations. Furthermore the empirical findings indicate a differentiation of credit cycles in individual banks, suggesting that a microprudential policy towards one bank (or a group of banks) could bring similar effects to macroprudential policy. The results indicate the need to supplement the macroprudential policy analysis with disaggregated data for individual banks. (original abstract)

Celem niniejszego artykułu jest uzyskanie informacji o empirycznych cechach cyklu kredytowego w podziale na poszczególne banki działające w Polsce. Wyniki mogą dostarczyć informacji ważnych dla prowadzenia polityki makroostrożnościowej, skoncentrowanej na wygładzaniu cyklu kredytowego na poziomie zagregowanym. W przypadku małych sektorów bankowych, gdzie istotną rolę odgrywa niewielka liczba instytucji, cykl kredytowy może mieć bowiem charakter cyklu pozornego, jako agregat luźno związanych ze sobą fluktuacji cyklicznych, generowanych przez poszczególne banki. (skrócony abstrakt oryginalny)

Słowa kluczowe

EN

Credit cycle; Macroprudential policy; Banking sector; Empirical analysis

PL

Cykl kredytowy; Polityka makroostrożnościowa; Sektor bankowy; Analiza empiryczna

• Czasopismo: Bank i Kredyt
• Rocznik: 2024
• Numer: nr 1
• Strony: 1--20

Twórcy

autor

Mateusz Pipień

• Cracow University of Economics, Poland

autor

Dobiesław Tymoczko

• Warsaw School of Economics

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