Can non-interest rate policies stabilize housing markets? Evidence from a panel of 57 economies
详细信息 查看全文
- 作者：Kenneth N. Kuttnera ; Kenneth.N.Kuttner@williams.edu" class="auth_mail" title="E-mail the corresponding author ; Ilhyock Shimb ; ilhyock.shim@bis.org" class="auth_mail" title="E-mail the corresponding author
- 关键词：House prices ; Housing credit ; Financial stability ; Macroprudential policy
- 刊名：Journal of Financial Stability
- 出版年：2016
- 出版时间：October 2016
- 年：2016
- 卷：26
- 期：Complete
- 页码：31-44
- 全文大小：650 K
文摘
- •
We gauge the effectiveness of non-interest rate policies on housing credit and price.
- •
We use data from 57 economies and periods of up to three decades.
- •
Debt-service-to-income limits lower housing credit growth by 4–6 percentage points.
- •
Housing-related taxes slow housing credit and price growth by 3–4 percentage points.