All Outputs (2)

The Macroprudential Toolkit: Effectiveness and Interactions (2023)
Journal Article
Millard, S., Rubio, M., & Varadi, A. (2024). The Macroprudential Toolkit: Effectiveness and Interactions. Oxford Bulletin of Economics and Statistics, 86(2), 335-384. https://doi.org/10.1111/obes.12582

We use a DSGE model with financial frictions and with macroprudential limits on both banks and mortgage borrowers, in the form of capital requirements and maximum debt‐service ratios. We then examine: (i) the impact of different combinations of macro... Read More about The Macroprudential Toolkit: Effectiveness and Interactions.

Sectoral Shocks and Monetary Policy in the United Kingdom (2021)
Preprint / Working Paper
Dixon, H., Franklin, J., & Millard, S. Sectoral Shocks and Monetary Policy in the United Kingdom

In this paper, we examine the extent to which monetary policy should respond to movements in sectoral inflation rates. To do this we construct a Generalised Taylor model that takes specific account of the sectoral make-up of the consumer price index... Read More about Sectoral Shocks and Monetary Policy in the United Kingdom.