| 000 -LEADER |
|---|
| fixed length control field |
03941cam a22003617i 4500 |
| 001 - CONTROL NUMBER |
|---|
| control field |
22765317 |
| 005 - DATE AND TIME OF LATEST TRANSACTION |
|---|
| control field |
20241223160853.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
|---|
| fixed length control field |
220825s2020 dcua b 000 0 eng |
| 010 ## - LIBRARY OF CONGRESS CONTROL NUMBER |
|---|
| LC control number |
2021276450 |
| 020 ## - INTERNATIONAL STANDARD BOOK NUMBER |
|---|
| International Standard Book Number |
1513512250 |
| 020 ## - INTERNATIONAL STANDARD BOOK NUMBER |
|---|
| International Standard Book Number |
9781513512259 |
| Qualifying information |
pbk. |
| 040 ## - CATALOGING SOURCE |
|---|
| Original cataloging agency |
DLC |
| Language of cataloging |
eng |
| Description conventions |
rda |
| Transcribing agency |
DLC |
| 050 00 - LIBRARY OF CONGRESS CALL NUMBER |
|---|
| Classification number |
MLCM 2024/46292 (HD) |
| 082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER |
|---|
| Classification number |
332.094 |
| Item number |
MAC 2020 |
| 100 1# - MAIN ENTRY--PERSONAL NAME |
|---|
| Personal name |
Arena, Marco, |
| Relator term |
author. |
| 245 10 - TITLE STATEMENT |
|---|
| Title |
Macroprudential policies and house prices in Europe / |
| Statement of responsibility, etc. |
Marco Arena [and 7 others]. |
| 264 #1 - PRODUCTION, PUBLICATION, DISTRIBUTION, MANUFACTURE, AND COPYRIGHT NOTICE |
|---|
| Place of production, publication, distribution, manufacture |
Washington, DC : |
| Name of producer, publisher, distributor, manufacturer |
International Monetary Fund, |
| Date of production, publication, distribution, manufacture, or copyright notice |
[2020] |
| 300 ## - PHYSICAL DESCRIPTION |
|---|
| Extent |
x, 39 pages : |
| Other physical details |
illustrations ; |
| Dimensions |
28 cm. |
| 336 ## - CONTENT TYPE |
|---|
| Content type term |
text |
| Content type code |
txt |
| Source |
rdacontent |
| 337 ## - MEDIA TYPE |
|---|
| Media type term |
unmediated |
| Media type code |
n |
| Source |
rdamedia |
| 338 ## - CARRIER TYPE |
|---|
| Carrier type term |
volume |
| Carrier type code |
nc |
| Source |
rdacarrier |
| 490 0# - SERIES STATEMENT |
|---|
| Series statement |
International Monetary Fund. European Department ; |
| Volume/sequential designation |
No. 20/03. |
| 504 ## - BIBLIOGRAPHY, ETC. NOTE |
|---|
| Bibliography, etc. note |
Includes bibliographical references (pages 35-39). |
| 520 ## - SUMMARY, ETC. |
|---|
| Summary, etc. |
"Recent years have seen an increasing use of macroprudential policies (MaPPs) in Europe. Since the global financial crisis, many European countries have implemented macroprudential frameworks and tools, producing an expanding body of empirical research on their effectiveness. In part, the goal of this research is to evaluate the effectiveness of macroprudential policy. This paper discusses how MaPPs have been used in Europe to address risks from the housing market and growing household indebtedness. It also documents developments in riskier mortgages, as well as house prices and credit related to the adoption of MaPPs. Macroprudential policy in Europe aligns with the objective of limiting systemic risk, namely the risk of widespread disruption to the provision of financial services that is caused by an impairment of all or parts of the financial system and that can cause serious negative consequences for the real economy. The paper presents evidence suggesting that MaPP implementation successfully limited systemic risk that could emerge from riskier mortgages and helped to build resilience. That said, many European countries' experiences have not yet spanned a full financial cycle, so any ensuing lessons and empirical evidence remain tentative. Overall, the findings suggest that borrower-based measures, supported by lender-based measures, helped limit the share of riskier mortgages. However, results are more mixed as to the ability of MaPPs to contain house prices and overall credit growth against the backdrop of still-accommodative monetary policy and other factors. This trend supports the notion that macroprudential policies are mainly aimed at strengthening resilience and containing systemic financial risks, rather than steering house prices and overall credit growth. Further, the wide range of institutional arrangements and policies being adopted across countries suggests that there is no one-size-fits all approach. The paper also notes that macroprudential policy effectiveness in influencing house prices through credit should be assessed in the context of other policies affecting house prices. House prices are a function of many drivers, such as supply of land, zoning, tax policy, etc. It should be also noted that to the extent that MaPPs are effective in contributing to reducing housing price growth, the reduction in price will come about via a reduction in demand, as MaPPs make (some) mortgages more expensive. To protect affected households, policymakers can strengthen various policies that promote housing affordability."--Executive Summary. |
| 588 0# - SOURCE OF DESCRIPTION NOTE |
|---|
| Source of description note |
Record based on description for electronic version. |
| 650 #0 - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name entry element |
Housing |
| General subdivision |
Prices. |
| 650 #0 - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name entry element |
Housing |
| General subdivision |
Prices |
| Geographic subdivision |
Europe. |
| 650 #0 - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name entry element |
Housing |
| General subdivision |
Prices |
| Geographic subdivision |
Europe, Central. |
| 650 #0 - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name entry element |
Housing |
| General subdivision |
Prices |
| Geographic subdivision |
Europe, Eastern. |
| 710 2# - ADDED ENTRY--CORPORATE NAME |
|---|
| Corporate name or jurisdiction name as entry element |
International Monetary Fund. |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) |
|---|
| a |
7 |
| b |
cbc |
| c |
origres |
| d |
4 |
| e |
ncip |
| f |
20 |
| g |
y-gencatlg |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
|---|
| Source of classification or shelving scheme |
|
| Koha item type |
Süreğen Kaynaklar |
