How Long to Read Stress Testing and Calibration of Macroprudential Policy Tools

How Long Does it Take to Read Stress Testing and Calibration of Macroprudential Policy Tools?

It takes the average reader and 54 minutes to read Stress Testing and Calibration of Macroprudential Policy Tools by Lucyna Gornicka

Assuming a reading speed of 250 words per minute. Learn more

Description

We present a semi-structural model of default risk, which is a function of loan and borrower characteristics, economic conditions, and the regulatory environment. We use this model to simulate bank credit losses for stress-testing purposes and to calibrate borrower-based macroprudential tools. The proposed approach is very flexible and is particularly useful when there is limited history of crisis episodes, when crises bring unanticipated shocks where past tail events offer little guidance and when structural shocks or changes in financial regulations have altered the loan default process. We apply the model to quantify mortgage lending risk in two distinct mortgage markets. For each application, we show a range of modeling adjustments that can be made to capture country-specific institutional features. The model uses bank portfolio data broken down by risk bucket and vintage, which enables us to take explicit account of the loan life cycle and to incorporate the housing and economic cycles. This feature facilitates a timely assessment of banks' loss-absorbing capacity and the buildup of systemic risk conditional on policy. It also enables counterfactual analysis and the evaluation of macroprudential policy interventions.

How long is Stress Testing and Calibration of Macroprudential Policy Tools?

Stress Testing and Calibration of Macroprudential Policy Tools by Lucyna Gornicka is 54 pages long, and a total of 13,716 words.

This makes it 18% the length of the average book. It also has 17% more words than the average book.

How Long Does it Take to Read Stress Testing and Calibration of Macroprudential Policy Tools Aloud?

The average oral reading speed is 183 words per minute. This means it takes 1 hour and 14 minutes to read Stress Testing and Calibration of Macroprudential Policy Tools aloud.

What Reading Level is Stress Testing and Calibration of Macroprudential Policy Tools?

Stress Testing and Calibration of Macroprudential Policy Tools is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

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