… liquidity, leverage, and capital flows. They use International … markets as somewhat volatile,
with periods of restrictive … be influenced by cross-border banking flows that could lead to …

… model with financial frictions and cross-border banking to … countercyclical capital buffers
under a range of policy regimes, … complicating the interpretation of capital flows across regions, …

… boom; (iv) macroprudential policies should be viewed from a … have been channeled through
trade credit and cross-border … Also, the increase in gross short-term financial inflows can …

… a deep reshaping of cross-border financial flows, featuring de-… integration, and capital flows
often have volatile features. But … of policy tools, notably including macroprudential policies, …

… liquidity ratios or countercyclical capital buffers. In addition, … -bank financial intermediaries
in cross-border capital flows in … per year and their more volatile behaviour. Instead, we chose …

… ) and capital-based instruments (Countercyclical Capital buffers, or CCyB) … fact that financial
cycles are longer and more volatile than … The potential for cross-border shocks could be also …

… macroprudential policy framework. In particular, the use of CFM/MPMs should be aligned …
CFM/MPMs can be designed to increase resilience to aggregate shocks by building buffers for …

… liquidity, capital flows, macroprudential policies and foreign banks… A key driver of the surge
in cross-border capital flows has … In the face of large and volatile capital flows, a freely floating …

… to large and volatile movements in cross-border debt inflows (Alberola et al., … macroprudential
policies may support macroeconomic stability at times of large cross-border capital inflows (…

… volatile output growth. In addition, measuring potential cross-border spillover effects from
macroprudential policy … the effectiveness of macroprudential policies in containing systemic risk …