Date published: Nov 2019
SUERF Policy Note, Issue No 115
by Paul Hilbers and Marco van Hengel
De Nederlandsche Bank
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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