Renouf Publishing Co. Ltd.
embedded image
Renouf
Online Bookstore

ABOUT SSL CERTIFICATES

 
Quick Search
for: 
in 
 
Advanced search
F.A.Q.
Featured books
New in print
Best Sellers
President's picks

Shopping cart/Checkout  [0]
Sign-up for eUpdates
How Effective is Macroprudential Policy?
Evidence from Lending Restriction Measures in EU Countries

by Tigran Poghosyan

Series:Working Paper No. 19/45
ISBN 9781498300872
Code: #WPIEA2019045

Publication year: 2019

Cdn: $27.00; US: $25.00
Paperback
Language: English
0 pages
Add to cart
This paper assesses the effectiveness of lending restriction measures, such as loan-to-value and debt-service-to-income ratios, in affecting developments in house prices and credit. We use data on 99 lending standard restrictions implemented in 28 EU countries over 1990–2018. The results suggest that lending restriction measures are generally effective in curbing house prices and credit. However, the impact is delayed and reaches its peak only after three years. In addition, the impact is asymmetric, with tightening measures having weaker association with target variables compared to loosening measures. The association is stronger in countries outside of euro area and for legally-binding measures and measures involving sanctions. The results have practical implications for macroprudential authorities.
How Effective is Macroprudential Policy?
Cdn: $27.00; US: $25.00
International Monetary Fund (IMF) BookID: 124530 Added: 2019.3.3