The Anatomy of the Transmission of Macroprudential Policies
ABSTRACT We analyze how regulatory constraints on household leverage—in the form of loan‐to‐income and loan‐to‐value limits—affect residential mortgage credit and house prices as well as other asset classes not directly targeted by the limits. Loan‐level data suggest that mortgage credit is realloca...
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Veröffentlicht in: | The Journal of finance (New York) 2022-10, Vol.77 (5), p.2533-2575 |
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Hauptverfasser: | , , , , |
Format: | Artikel |
Sprache: | eng |
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