Author(s): Paul Hilbers and Marco van Hengel
Date published: Nov 2019
SUERF Policy Note, Issue No 115
by Paul Hilbers and Marco van Hengel
De Nederlandsche Bank
JEL-codes: E44, E61, G28.
Keywords: Macroprudential policies, housing market, financial stability risks.
Macroprudential policy focuses on the different and complex interactions within and between the financial system and the macro-economy. In this context, it is particularly important to monitor and address housing market developments, because they often contribute to procyclical fluctuations and financial crises. It is important to develop a macroprudential framework for the housing market to timely and adequately address risks to financial stability. This article provides a case-study on the macroprudential framework for the housing market in the Netherlands reflecting lessons from capital-based, borrower-based and structural measures.
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