Un análisis comparado de las medidas macroprudenciales y fiscales en la mitigación de crisis inmobiliarias, de crédito y sistémicas en las economías deEspaña, Corea, Reino Unido, Noruega, Suecia, Estados Unidos, Canadá, Hong-Kong, Japón y Australia

Abstract

This is a comparative analysis of ten advanced economies in terms of the mitigation of bubbles and prevention of systemic risk, to get to know if the effects of the recent financial crisis could have been mitigated through the use of macroprudential and fiscal measures. In order to achieve this, it is performed a comparative analysis of the policies guidelines and results obtained by the different countries, including results obtained in the control of house price growth as well as household debt and the prevention of banking crises. The analysis covers the period between 1980 and 2012. An econometric study is ellaborated to compare the effectiveness of macroprudential and fiscal measures in the control of the mentioned variables. Finally, case studies of Spain, United Kingdom and South Korea are presented, to analyze the situation in each country and the policies applied.